Hi, I’m currently a high school senior and I have some questions about FAFSA.
I know that FAFSA is basically where students receive financial aid and grants, however currently, my parent’s income exceeds 500k.
My guidance counselor advised me to still fill out the application in the chance of receiving merit-based scholarships but I have a feeling that revealing my parent’s income will essentially hurt me more than help me.
Could anyone give me some advice on what I should do? Thanks so much.
Some places do require you to file the FAFSA in order to be considered for merit aid. Part of the reason for that is to make sure all the merit aid recipients who are eligible for federal aid do get that aid.
Some places will not award need-based aid in future years if you do not apply as a freshman, no matter how horrible the financial reversal.
If you want to borrow federal student loans, you have to file the FAFSA.
Check with the colleges on your list to find out what their policies are in regard to the first two items, and with. Your parents to find out about the third.