<p>Hi. My D just was admitted ED to a private university that does not have merit-based FA. I used their on-line estimator and am pretty sure we are not eligible for any need-based FA, since our EFC is higher than the COA. We are hoping that she may get some merit scholarship(s) she applied for, but none are available from her school. She is also a National Merit semi-finalist, and I work for the company that sponsors the program, so we are hoping for it as well.</p>
<p>Should we even bother with FAFSA and SCC profile?</p>
<p>I would appreciate any advice since I have absolutely no experience with this.</p>
<p>If she files the FAFSA, she will be eligible to take out an unsubsidized Stafford Loan each year. </p>
<p>Some colleges and universities will not consider a student for financial aid in the future if they do not apply for it when they first apply for admission. Ask about this at your daughter’s university.</p>
<p>Some merit-based scholarships require the FAFSA and/or CSS Profile. Again, you should ask about this as well.</p>
<p>She is also a National Merit semi-finalist, and I work for the company that sponsors the program, so we are hoping for it as well.</p>
<p>do you know what your company gives? Do they give to every NMF? </p>
<p>As mentioned above, your D can take out an unsub student loan for 5500 for frosh year. </p>
<p>You need to figure out whether this school will be affordable. Since it’s an ED acceptance, you’ll be deciding soon.</p>
<p>Should we even bother with FAFSA and SCC profile?</p>
<p>Since this was an ED acceptance, if you were going to apply for aid, you were supposed to have already done so. This school (if need aware) may not like you applying for aid AFTER acceptance. However, if just wanting a loan after filing FAFSA…then no biggie.</p>
<p>Thanks so much for your responses, they are much appreciated. I wish I got to this forum a few months back :)</p>
<p>As mentioned before, I have absolutely no experience with entire college application process, and, guilty…I overlooked the requirement to fill out FA forms by November 1. The college website says you can still do it, but you will not get the decision before April…fine with me, since I know I am not getting anything, but loans, if any…According to the calculator, we are not even qualified for subsidized loans.</p>
<p>I think we can afford the tuition. It will not be easy, but if both me and my H keep our jobs, we’ll be fine. Our D is a pretty good student, so we do hope for at least one merit scholarship. I believe my company gives $3,000 per year for up to four years, National Merit Scholarship Corporation selects the scholarship winners. I know that quite a few people get it every year, so as long as my D makes finalists she has a pretty good shot at it.</p>
<p>From what you are saying, it looks like it may be worthwhile to invest some time in filing out these forms. I am not sure why, since we are talking about merit award, which should have nothing to do with parents income. Another think I don’t like is the fact that EFC calculation does not factor in the state where you live, so people that live in places with higher cost of living get penalized.</p>
<p>You don’t need FAFSA at all to be considered for a NMF corporate award. Doesn’t matter at all. Those decisions are made between NMCorp and the company. FAFSA isn’t used.</p>
<p>*to a private university that does not have merit-based FA. *</p>
<p>So, the only merit you’re concerned about is Nat’l merit and/or a private scholarship right? If so, no hurry to file FAFSA…you can file that later and get the unsub loan.</p>
<p>Yes, that’s right. At this point I only concerned about Nat’l merit and/or a private scholarship. I guess I’ll fill out FAFSA just in case anyway.</p>
<p>My suggestion: fill out and file the FAFSA. That way you will KNOW if your family is eligible for financial aid.</p>
<p>Reason to do that? Each school has its own way of calculating financial need. If the school asks for the Profile, it CERTAINLY uses its own methods and does NOT rely soley on the FAFSA to assess need. </p>
<p>Second reason: if your financial situation changes you will be able to modify what you’ve already submitted far more easily than filing anew mid year.</p>
<p>Third reason: The FAFSA is used to calculate eligibility for federal aid. Unless the school says explicitly that it uses the FAFSA to calculate institutional (college) aid, you do not know if you are eligible for institutional aid unless you file what the school says it needs.</p>
<p>Sorry to bother everyone again. OK, I got it - I’ll do FAFSA as soon as I do my taxes. Can I use estimates? Some of the paperwork that is used for my tax return is not even mailed to me before March, so I can try to guesstimate, but it will not be final.</p>
<p>Second question: When should I fill out CSS profile? And should I even fill it out? I know, I should have done it by Nov 1, but I guess it does not matter now, since as I said, I am not likely to get any need-based FA.</p>
<p>Thanks for being so patient with me. I am a total dummy in these questions.</p>
<p>on January 1 you can file the FAFSA using 2011 income and the numbers from your 2010 taxes. remember to click the box that says will file. Once you file your 2011 taxes, log back into FAFSA, amend the information based on your 2011 taxes and then resubmit.</p>
<p>Here is the link to the 2012-2013 FAFSA EFC formula. You can print out the PDF, and determine which bits of financial information you will need to lay your hands on. You also can run through it with your 2010 tax info, so that you have a solid ball-park figure for your EFC.</p>