<p>Daughter will be a freshman in the fall. We made more more this past year than ever before so know will not qualify for any aid. Was not planning on applying for financial aid, but then heard if don't appply first year may not be able to apply in future. Does anyone know if this is true. Our income will probably substantially decline in next year or two. So now wondering whether should apply this year after all.</p>
<p>Some colleges will not award even merit aid without having a FAFSA on file. And many often require it be filed freshman year to be eligible in subsequent years. The school funded need based aid may also be in jeopardy if you don't follow the school's rules regarding when you must file (e.g. freshman year). However, for federal monies it is my understanding that schools cannot withhold those need based funds if you don't apply freshman year. HOWEVER...it is also my understanding that the federal need based funds are NOT enough to cover the expenses of a college student and also are for those with the most significant need. If it were me, I'd file. You also never know when your financial circumstance might suddenly take a turn for the worse and your consideration for need based aid might change (for this coming school year).</p>