OK, so we have a EFC of $19,250 but my husband & I are comfortable with costs up to $40,000 per year pulling money out of a 529 until it is depleted which will of course occur faster with a private school than a public. There are 2 OOS publics that I have not put on the FAFSA yet - one with OOS tuition & a merit grant will cost $32,000/ year & another one [still awaiting a decision] would cost $36,000 per year with OOS tuition. The school that will cost $36,000 per year, I know wants the OOS tuition revenue. Should I even bother put either of these schools on the FAFSA since they don’t fully meet need and we may be OK self paying with the 529 as long as the schools are under $40,000 per year? Thanks for any feedback.
Some schools require FAFSA being filed to receive merit, you also need it to get a student loan if necessary.
If you have room to list the schools I would list them.
There’s no good reason NOT to list them, and it doesn’t cost you anything to list them, so why wouldn’t you?
So, admission chances will not be jeopardized for the OOS public school that really wants OOS tuition revenue even if we put it on the FAFSA, although we are willing to self pay if no FA is given? I’m more concerned about the admission chances then the money for this particular school since we will pay for it regardless of the FA outcome.
Thanks for feedback.
Filing FAFSA has nothing to do with the admissions decision at an OOS public school.
I would put them on the FAFSA. Your daughter might choose to attend…and she might want a direct loan. Just do it now.