<p>Some colleges and universities will require FAFSA and/or CSS Profile for candidates for merit aid. You need to check out the policies of each institution. Also, some will not award financial aid in future years if you haven’t applied for the first year. Seems strange, I know, but if there is a possibility that your financial situation could change enough so that your child could need aid in the future (even though you absolutely don’t need it now), you should go ahead and do the paperwork for the first year.</p>