Should I?
My family isn’t RICH or POOR. We are right in the middle. From your experience, what do you recommend?
Provide some objective data will increase your odds of getting a useful answer. Also: do you plan on using student loans?
You should do the FAFSA to know for sure where you stand. If your EFC turns out to be 99k+, you then know you have no shot of getting aid. But some schools do require submission of FAFSA even for merit aid.
My dad makes 6 figures (marketing director)
and my mom makes 5 figures (school teacher).
I am Korean-American, and have one younger sibling in 8th grade.
I do not plan on using student loans.
Where are you applying to colleges? Check your schools to be certain that they don’t require the FAFSA for merit aid…if you are seeking some of that.
Is the total income $190,000 (that would be six figures plus five figures) or is it $110,000. There IS a difference.
Do your colleges also require the CSS Profile?
Are you parents planning to pay your full cost of attending college?
ETA:
USC, BC NYU and Northwestern all require the CSS Profile AND the FAFSA for financial aid consideration. BC, Northwestern, and USC meet full need for all accepted students…and sometimes even students with $150,000 incomes get some need based aid (although these schools are not the most generous).
USC, BU, Northwestern and NYU all cost upward of $50,000 a year. Can your parents pay that?
You are OOS for California. at UCLA, you will be paying the differential between in and out of state tuition which is $23,000 PLUS your EFC PLUS your student contribution. Probably full pay for you at close to $50,000 a year.
Unless you have a great college savings, and your parents can pay the full price of attendance, I would suggest you complete the financial aid application forms…you might get some aid…you never know.
Yes! You would never know if you don’t file FAFSA
If you want the $5500 student loan as a freshman you will have to file the FAFSA.
@thumper1 my parent’s total income is 106,000. I just submitted FAFSA, and CSS to be completed soon. Thank you! Your advice really helped. 
Many top private colleges will offer financial aid for families earning up to or even over $200k particularly if you have another sibling in college. Let’s say your parents together earn $150k. At U.Chicago (which is not the most generous of schools) you would get between $15k and $18k. Depending upon their tax bracket, your parents might need to earn $25k in gross earnings to net $18k. There is a school of thought that you are a more “attractive” applicant if you have no financial need, but the form takes an hour or so to complete. We have $99k in EFC and we’re going to send in FAFSA. As noted by others in some cases it’s required for merit aid
Your mom makes $6,000 or under per year as a teacher? How is that possible?