<p>Should we fill out the FAFSA when we won't qualify for need based aid? From what we understand, we might be offered loans, but that's all; additionally, what if our circumstances change in the next year or two due to a job loss, decline in assets, etc. Also, what implications are there in completing the CSS profile or not? (i.e., is there any reason to send the FAFSA yet not send the CSS profile if it's required by a school). Also, does anyone know if sending in FAFSA/CSS has any downside to receiving merit scholarships when need based aid is not applicable?</p>
<p>You should send your fafsa anyway. You never know if they'll give you like $10 for books. lol</p>
<p>And don't worry, fafsa does not affect in any way, merit based aid. :)</p>
<p>Its win/no lose situation. Either you get some or you just don't, no side effects, nothing.</p>
<p>Some institutions require FAFSA/CSS Profile results before awarding merit aid.</p>
<p>Some institutions will lock you out of financial aid permanently if you do not file FAFSA/CSS Profile when you apply for admission. In other words, if your financial situation would change, you would be totally ineligible for any institutional aid at that place.</p>
<p>Other than the time involved in filing the paperwork, I really don't see any downside in filing both the FAFSA and CSS Profile.</p>
<p>I knew my son would get nothing -- neither need based nor merit -- based upon my income, his credentials, and his choice of a state school; so I did not fill out the forms. I found it ironic that there is an elaborate legal structure forced upon colleges to enable children over 18 to conceal private matters from their parents such as grades, medical records and legal records, but based upon my quick review of the FAFSA form, there is no protection for parents from disclosing their income and assets to their children!</p>
<p>A parent can choose to do the entire fafsa themselves and never have the kid see it. That's what I've done (but not for reasons of wanting to keep my financial info from my kid). I got his paystubs and did his taxes and the fafsa all on 1 day.</p>
<p>It's just easier if I do all of it. 3 years down, 1 to go.</p>
<p>I think it is always worth filling it out. At the very least, should everything fall apart and you need to ask for emergency aid, your information will be on file. Just because they "give" you a loan does not mean you have to take it.</p>