FAFSA

Do we need to submit Fafsa for my son if we don;t plan to take out loans or apply for aid. What are the advantages and disadvantages of not submitting Fafsa

There are a teeny number of colleges that want students to complete a FAFSA. But the very vast majority don’t require it at all.

If you aren’t applying for need based aid, you don’t have to complete any financial aid forms…you will be a full pay family.

WRT to the Direct Loan…if you can be your mind about that, you can complete a FAFSA during the academic year and ask for the $5500 Direct Loan. It will be divided equally amongst your terms. If you only apply in the spring term, IIRC, you can request the full $5500 at that time.