Do you HAVE to fill out the FAFSA every year?

DS heading to college this fall. We filled out the FAFSA last year. This year, we know he’s going to a state school where he gets a tuition waiver from DH being faculty. He has a merit scholarship applied toward some room and board (not based on income/finances). So here’s what we will pay each semester: room and board, fees, books, and supplies. I have a 529 fund I will use to cover these expenses, and I have saved enough to cover all four years of undergrad. I just saw the bill for fall, and I am certain we’ve got what we need in the 529. We don’t have any loans we’ll be taking out. We declined the federal Stafford loan. So my question is – do I need to fill out the FAFSA every year if I know I don’t need financial aid or loans? Is it just a prerequisite no matter what? Pros/cons to filling it out? It was tedious and hideous to fill out last time, so if I can avoid that headache, I’d like to. Also – do you have to fill out the FAFSA for each child in college or do you fill it out just once? Thanks for any insight.

Every child has their own FAFSA. There’s a student section (for earnings, savings, etc.) that could be different for each one. Whether or not you need to fill it out depends on the school. If the school requires it for the merit scholarship then you’ll need to fill it out.

Ask the school.

For my oldest, we filled it out once and never have to for him again. He’s on a full ride; his university doesn’t require him to fill it out each year.

The other kid is on an almost full ride at a different university and we started to fill it out last year for his freshman year. He was notified that he had to do some verification step, and when I checked when his university they said he didn’t need to fill out the FAFSA at all to get his scholarship. However, this spring they asked all the scholarship kids to fill out the FAFSA for this fall, so we did that a few weeks ago. I’m guessing they’re looking to see if anyone is eligible for Pell grants so they can extend their scholarship fund a bit.

We only filled it out if it was needed for merit aid. Most schools do not require it, but some want to ensure that FA is used before offering merit. Every school is different.

You should ask the FA office if any of their Aid requires a FAFSA to be filed. If the answer is no, only need it if you want a federal loan then you should be safe to skip completing it. But some colleges require the FAFSA on file to be considered for scholarships.

We have a local community foundation that requires scholarship applicants to file the FAFSA every year (they want to be sure that institutional, federal and state aid is being pursued as well). You might want to double check the policies of any outside scholarship organizations he might apply to.

Other pros to filling it out:

I usually fill it out with my student and husband, so it sets aside a time to get a full financial picture of where we are and where they are. It gives them a big picture of the challenge of paying for college, the importance of pursuing scholarships, graduating on time and planning ahead.

Students have quick access to a student loan if needed. Unexpected fee increases, extra expenses for study abroad programs, a dip in gpa that suspends merit aid, a delayed 529 payment, etc.

It’s hard to be sure you aren’t eligible for a state grant (some are merit based), work study, or need aid without filing it since policies can change quickly.

“For example, 95.9% of Pell Grant recipients in 2007-08 had an adjusted gross income (AGI) of $50,000 or less, 3.5% had an AGI of $50,000 to $75,000, 0.4% had an AGI of $75,000 to $100,000 and 0.2% had an AGI of $100,000 or more.” from https://www.forbes.com/sites/reynagobel/2015/01/31/more-people-eligible-for-pell-grants-than-expected/#19109ed01290

For in state Pell eligible students attending Ohio State, failing to file wouldn’t just cost them the Pell grant, they’d miss out on an automatic full tuition award https://www.thelantern.com/2017/09/ohio-state-to-become-first-public-ohio-college-to-cover-tuition-for-pell-students/ “An estimated 3,500 undergraduate students on Ohio State’s main campus are eligible for this tuition coverage, according to university data.”

The first time is the hardest, it does get easier.

FAFSA is easy to fill out, especially if you use any kind of tax software.

No. You don’t.

We have not filled it out the last few years now that we know what the FAFSA is all about. I’m not sure what we expected when he started 3 yrs ago, but all he was offered was loans. Son has tuition covered via merit, and between us we pay the rest. No need to fill it out as we are not taking out loans. I’m guessing it’ll be similar with you.

FAFSA takes 20 minutes tops if your tax return is completed. Not a burden.

It depends on the college or university. I would take the time to fill out your FAFSA each year, just because it offers you more options in the event that something happens where you need the money for school. They will still let you know if you are eligible for any sort of government money, so it is a shot worth taking. That’s just my 2 cents.