<p>My parents have already saved for my college tuition and it'd be highly unlikely that we'd receive anything due to our income, and to my understanding FAFSA and CSS are just a loan which would require you to pay back with interest. However, I may be misinformed.
Also, I received some acceptances with scholarships, do I still need to fill out FAFSA/CSS in order to still receive them or are they unrelated?
I also still don't quite understand the purpose of CSS, how is it different from FAFSA?</p>
<p>You should always fill out the FAFSA. It’s free (provided by the federal government) and determines your eligibility for financial aid, EFC, work study, etc.</p>
<p>The CSS is more aimed at private universities and is more detailed, but similar. (and more expensive -_-)</p>
<p>Thanks! I appreciate the response!</p>
<p>FAFSA and CSS are not loans, or any other kind of aid. They determine your eligibility for aid. Filing FAFSA costs nothing and filing CSS costs very little. Neither one obligates you to accept any aid that may be offered, not even loans. </p>
<p>Regarding the scholarship offers you’ve received: Since they’ve already been offered, you probably don’t need to do anything else except accept them. But a few schools do require FAFSA even for merit aid, so you might contact the schools just to be double-sure.</p>
<p>As clouder notes, CSS is not required by all schools (whereas FAFSA is). It is far more detailed, especially in its look at assets as opposed to income. It also asks some questions about expenses, which FAFSA does not. The cost is $24 for the first college, and $18 for each additional school.</p>
<p>If you’re not going to need any aid, and you’re not going to qualify for any aid (other than loans which it sounds like you don’t want), and you don’t need to do FAFSA to be awarded merit aid, then you don’t need to fill it out. </p>
<p>Since your parents make too much money and you have a college fund, it sounds like you’re set! Congrats! </p>
<p>My kids were awarded merit scholarships, and we didn’t fill out FAFSA in order for them to accept them (We’ve never filled out FAFSA)… I believe that when FAFSA is needed for merit consideration that means that you must fill FAFSA out BEFORE merit is awarded. You’ve already been awarded merit, so you’re good to go! :)</p>
<p>Many high income people/people with savings don’t fill out the FAFSA. If you don’t want a loan, there’s little point.</p>
<p>I beg to differ with 2 college2 college–</p>
<p>Every FA pro I know or have read says one should fill out FAFSA even if you don’t think you need or qualify for aid now. Reason being, one never knows what will happen in the next 4-5 years. The world changes and so do economies, both personal and world. So it’s best to have a base line if there comes a change and one does need to file for aid. It’s free, so why not play safe. I believe Paying for College without going broke also recommends this.</p>
<p>What do other posters think? Or do you think it would be better to wait until a “financial disaster” strikes and then apply?</p>
<p>At minimum, families should do the calculators to see what their EFC might be. With college costs at some private universities approaching $60,000/year, even families with $40,000+ EFCs might qualify for a bit of institutional grant aid (depending on the school, of course) - and every little bit helps.</p>
<p>As upstatemom suggests, if your college or university will only consider aid in future years if you apply as a freshman, filling out the forms is s good idea - especially if a sibling will be entering college while you are attending.</p>
<p>Good luck!</p>
<p>I agree, but understand I was not referring to a family in which losing one job would make them eligible for aid. There’s loads of wealth in America, if your EFC is $99,999 and you own big homes and have a sizable portfolio, you probably don’t need to fill out FAFSA. At the schools most popular on CC, a significant percentage of every class fits this description.</p>
<p>upstatemom, I agree with you. One lesson that we should all have learned by now is that a family’s financial situation can change drastically in this economy – even very wealthy families. Also, some colleges will not let you apply for aid in subsequent years if you didn’t apply in the first year. There’s no downside to filing FAFSA.</p>