Is it worth filling out the FAFSA if you aren't planning to pursue need-based financial aid?

Paying for College
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My parents don’t think I should pursue need-based financial aid because our income is too high to qualify, but they believe that I should fill out the FAFSA just in case. Is there a point in doing so? They think this will help me get accepted (for whatever reason).

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If they have the money for four years of college already saved (ideally with a little padding in case you take longer to graduate), then you are probably fine.

If they plan to pay for college as you go out of two very high incomes, then fill out the FAFSA. Incomes may not be guaranteed, and there are some colleges that will not let you apply for FA in later years if you did not apply as an incoming freshman.

At need-aware colleges, not needing FA may very slightly help your chances. Many colleges, however, are need-blind, and for those it won’t matter if they fill out the FAFSA or not.

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Some schools will not distribute merit aid without a FAFSA on file.

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Completing a FAFSA will not improve your admission chances. The admissions office won’t see your FAFSA or know anything about when you submitted it. That goes to the financial aid office. Two separate places.

Even at need aware schools, the admissions office has no knowledge of your FAFSA submission. The admissions office at need aware schools will know your financial need. There is a difference.

You will be able to take out a Direct Loan in your name only if you submit a FAFSA form. You could even submit the FAFSA for that after you decide where you will be attending.

Are your parents planning to pay the full cost for you to attend college? If so, really, it’s no big deal to complete the FAFSA form.

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Here are three reasons for students like you to file the FAFSA and apply for aid:

  1. You want to be able to access the federal student loans.
  2. You want to be considered for merit-based aid at institutions that require merit-aid applicants to file the FAFSA. (They do this to guarantee that students who qualify for federal/state/local money do get it.)
  3. You are applying to an institution that specifically will not award financial aid in future years, no matter how severe your family’s financial reversal, if aid was not applied for freshman year. (This should be right on the college/university website.)

If none of these apply to you. You can skip the FAFSA.

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