<p>If you know that your child will not qualify for financial aid, do you have to fill out the forms??? His test scores will qualify him for merit aid, but if they look at our finances, they will know that he doesn't need it. Also, does every school ask for copies of tax returns??? Ours is 70 pages or more thick... </p>
<p>I guess it is silly, but we are in the financial situation we are in because I use coupons, buy clothes on the clearance rack, find super sales. I've never paid full price for anything in my life and I guess I'm looking like that at college. We will pay what we need to, but would like to get the best deal possible...</p>
<p>Some, but not all, schools require FAFSA in order to receive merit scholarships. If it is a true merit scholarship your son will not have to prove financial need in order to receive it, by the way. </p>
<p>Some parents have their children take the available Stafford loans to help fund their own educations. And with that, some parents then pay them back at graduation.</p>
<p>Some colleges will not consider your child for financial aid in future years if you don’t apply for the first year. Just call them and ask about their policy, and they will tell you. If you have four full years of college expenses stashed away in a safe place, it is perfectly OK to not apply for aid.</p>
<p>My DD was given aid at a school if we filed FAFSA. EFC of 99,999. I think the school just wanted to make certain if they were giving any aid, that parents realized they could get unsub stafford. Beleive or not, some people dont realize anyone can get unsub stafford.</p>
<p>No, we know many people who do not fill out financial aid forms. Only you know what your situation is and if you want your kids to take out federal direct loans.</p>
<p>Plano, it was not a top tier school – it was actually my DDs safety. I was suprised when they offered money, but it seems to be the thinking here that if you apply to schools where child is in top 80-90% they may get merit aid.</p>
<p>Yes, we have pretty much 4 years of college in his 429. Plus our salary is REALLY high. But for that reason, I don’t want them to look at it and say, “Oh…we won’t even offer merit aid.” He may decide to go to grad school or even get his PHD or law school or who knows what. So that money may be used for that if we can save some of the college money. Probably silly, I know. I just want the best deal possible.</p>
<p>Kay…that sounds like merit for stats…unrelated to EFC (altho they may have req’d FAFSA submittal). An EFC of 99K would only qualify for unsub loans.</p>
<p>Plano…if you have a high EFC (above cost of school), then merit and/or unsub is your only hope to escape paying full freight.</p>
<p>momknowsbest3, merit aid gets used to lure families like yours. You’re not going to get need-based aid, you’re not applying for it…but if a school offers your child a merit scholarship, your kid is going to think “wow, they really want me!” and you’re going to think “sweet deal!”. Then a school which might not have been your son’s top choice suddenly starts looking mighty tempting.</p>
<p>If the school’s COA is $50k a year and they give your son a $10k a year scholarship, they’re still getting $40k a year from your family. Plus, since your son’s stats are higher than the average for the school, he makes the school look better, thus luring more prospective students in the future. </p>
<p>That said, you can lead a horse to water but you can’t make him drink. Meaning that though you see it as a good deal, your son may still prefer to go to a more expensive school. You can lay out the options for him about how going to a school with merit aid will allow him to have money set aside for law school or grad school. The final decision, though, rests with him (as you’ve already set the money aside).</p>
<p>See that is EXACTLY what I am trying to prevent. I’m looking at the websites and sure he’ll get 15,000 but the whole cost is 40,000. So how do you find the ones where he will get REALLY good merit aid that pays most of it??</p>
<p>You need to check with each college for their requirements. Some (my kids’ schools both had this requirement when they were incoming freshmen…one no longer has it) schools REQUIRE that students complete the financial aid application forms for ALL aid including merit aid…as incoming freshmen. So check.</p>
<p>Also, as noted above, there are some schools that will not give you instititional aid in subsequent years if you don’t APPLY as an incoming freshman.</p>
<p>And lastly…if you do NOT apply for financial aid at all, it will be clear to the school that you don’t think you qualify for need based aid, right? So what is the difference between not applying and applying? None really…the school will think you don’t want need based aid regardless.</p>
<p>To find the ones that offer “really good” merit aid that pays for everything: you do research on this forum and on others. Here are some threads to get you started:</p>
<p>And, as thumper noted, you check websites to see if a school offers merit aid. Be aware that full-tuition scholarships, let alone full rides, are highly competitive. </p>
<p>Two cents of advice: if you really are not going to be willing to pay $40k a year (let alone $50k or $60k, 'cause that’s where things are heading :eek:), then tell your son now. Better that he starts off with a budget, rather than that he applies to schools that are going to be entirely out of financial consideration.</p>
<p>i was simply looking at paying $40 K instead of $60K - which is still a premium over instate school. D got admiitted into UT Austin (Business School) which is a good option to have otherwise. So for the right school, I am willing to pay additional $15 K with the intent that school may offer some break (not all of it)…</p>
<p>At Son’s school, all the campus jobs go to kids with Work Study. In order to get work study, one must apply for financial aid. </p>
<p>If you’d like your kid to have a campus job, I suggest applying for aid. </p>
<p>With our high EFC, Son got unsub staffords for this year. What he really needed was a job. So, for next year, we made a point of requesting work study in the application. Who knows if the Fin Aid office will take notice. But, we sure hope so.</p>
<p>Work study is a need based award. It will only be given to a student who qualifies for need based aid. If it’s Federal Work Study, the funds are limited at each school, and typically go to the neediest students first.</p>
<p>You get an unsubsidized Stafford loan by simply completing the FAFSA. You have to have financial NEED to get Work study.</p>
<p>A quick and dirty rule of thumb: the less selective the school, the more likely your kid will get great merit aid. So your first decision is how “low” you are willing to go in order to save money. And to my mind, that’s a big decision, not a bit like buying clothes on the clearance rack…One thing to consider is whether attending your state flagship may be a better academic choice than looking for huge merit at a lesser school.</p>