<p>Is the FAFSA necessary to file at Michigan? My parents are wealthy so I wouldn't get any need-based aid, and I don't really have the stats for any kind of merit scholarship from UM (which I believe is somehow tied to the FAFSA, correct?) So my question is, should I even bother to file it? Are there any other reasons (besides financial) that one needs to file it? I haven't done the PROFILE yet, either. Thanks for the input everyone.</p>
<p>^i would think FASFA isn’t related to merit scholarship since it is need based. i probably wouldn’t bother.</p>
<p>Some people do not like to file the FAFSA and expose all their intimate financial details. However, if your parents did not want to pay cash and wanted to access the government PLUS loans, which while not being the cheapest interest rate, do give very long payback periods with provisions should someone lose a job, etc., they would need to file the FAFSA in order to access those loans. If there is any chance the financial picture could shift over the next four years and their preference would be to access those loans, then yes, file the FAFSA. If not, you would not need to.</p>
<p>If you don’t qualify for need based aid, then don’t file it.</p>
<p>Actually, FAFSA can be related to merit based scholarships. Several “merit and need” based scholarships look into FAFSA and if you don’t send one in, you are automatically disqualified since it seems you have no need for aid. [COE merit/need based specifically, I haven’t heard of anyone receiving scholarships through this program if they didn’t turn in their fafsa while I know a couple that were obviously wealthy and received scholarships through the same program.</p>