<p>Our family will not qualify for any financial aid (already did the FAFSA so know this is true) other than loans. For many of the schools my S applied to, we probably won't need loans even. However, we might need a small loan for a few of the schools. He applied to the schools saying we wouldn't need financial aid. If we submit the FAFSA just to get loans, are we okay? Some of the schools require it for the scholarships he got, but not the ones we might need loans at.</p>
<p>You are fine to submit the FAFSA just for loans. You are not expecting any need-based aid. Just so you know, there is no hurry to submit if all you want is loans - you can submit later, because you just have to have it on file in time to get your loans processed before school begins. You can wait until your S chooses his school.</p>
<p>Thanks kelsmom!</p>
<p>When you do apply for the Direct Loan your student will probably need to let the FA office know they have submitted the FAFSA. We had to do that. The school did not expect to have to process any loan info for DD2.</p>
<p>If I don’t apply for the Unsubsidized Stafford Loan my freshman year but decide I want it my sophomore year, an I still eligible for it even though I didn’t submit the FAFSA freshman year?</p>
<p>Yes, you will be eligible. A sophomore (that is, a student with sophomore standing - not all students in their 2nd year have attained sophomore standing in terms of credits earned) is eligible to receive $6500 for the year (of which up to $4500 can be subsidized if there is need - if not, it can be a mix of sub/unsub or all unsub, depending on COA, EFC, and other aid).</p>