<p>Is there any reason why they need to? </p>
<p>They are small business owners who would not qualify for aid (just trust me on this one), but is there any reason why filling out this form could possibly be bad or is it necessary to fill out even if you don't anticipate receving any aid?</p>
<p>Any advice or tips are appreciated!!!!! :)</p>
<p>1) Some colleges/universities require it in order to consider you for merit-based aid.</p>
<p>2) Some colleges/universities will never award you need-based aid in the future (even if your financial situation has changed drastically) if you do not apply for aid when you first apply for admission.</p>
<p>If you know the policies of the colleges/universities that you are applying to, and they don’t follow policies along the lines of 1 and 2, and you know that your family has the cash lined up for your education in a rock-solid safe place, then you probably don’t need to file a FAFSA.</p>
<p>Many families, including ours who have kids who’ve been in college for 7 years between them now, have never filled out FAFSA. No reason to if you know you won’t get aid. As the above poster said, at some schools you’ll never qualify for aid if you didn’t apply as a freshmen, but if your family has considerable assets and even a severe business loss will not make them qualify, don’t bother.</p>
<p>You will not be eligible for federal student loans without a FAFSA on file. Are they planning on paying for your entire education? If they expect you to take any student loans, they really need to file FAFSA. It’s not difficult or particularly time consuming once taxes are done.</p>
<p>One less thing to worry about!</p>
<p>If you have open conversations with your parents, if they understand where you are planning on applyiing, if they are not going to have you take Staffords and they are not planning on taking out PLUS loans and if they clearly understand the total cost for the schools you are interested in and they still are telling you not to worry, they can afford the cost of college out of their savings/earnings…then no, you would not need to fill out the FAFSA and yes it is one less thing you need to “worry” about.</p>
<p>I filled one out my son’s freshman year even though I was clear there would be no aid. Why? Because CCers told me to! 
Basically at some schools if you don’t file the first year you can’t file in subsequent years…at least that is how I understand it. I filed so that I could file in later years when his sister started college. Also as a small business owner it is naive to think that your financial situation might not change drastically in subsequent years. Unless you have that money tree in YOUR backyard I say file. It can’t hurt.</p>
<p>^Thanks for the advice!!!</p>
<p>Yeah, I kinda thought FAFSA was necessary, prompting me to launch this thread. However, my family has enough to pay for my education with liquid assets easily, not including the fact that there are some state Uni’s in OH that I can pay for with being a resident entirely myself. My own personal assets seem to throw the FAFSA off a fair amount. I’m also an only kid, just to make things worse, but I REALLY want a merit scholarship, like bad, because that will (in its own stupid way) make me feel at least like I have “earned” something from working my butt off for the past 4 years, and the 9 before that.</p>
<p>Also, I know that being a SBO has no security what so ever, and our company’s feeling it, since we deal heavily in the auto industry (fortunately, the Japanese auto makers are our primary clients, though ). Still, we have no “personal ties” to the business, except for losing our paychecks (yes, I work there, too). </p>
<p>Still, interesting to note that it is necessary to fill out for obtaining Merit scholarships at some colleges. So…</p>
<p>Does this mean that some colleges with “Merit” aid also take financial need into account?</p>
<p>Is this a standard practice at most Uni’s that are not HYPSM?</p>
<p>If I ever am in a situation when I do have financial need, will it hurt that I didn’t fill out the FAFSA?</p>
<p>Is filling out the FAFSA really “giving out your personal information” to others, or should it be treated as a tax form?</p>
<p>Will I need to still fill out the PROFILE?</p>
<p>Will not filling out the FAFSA hinder my chances of acceptance to highly selective private or public universities (like Cornell, Carleton, or U Mich?)</p>
<p>Again, I really appreciate all of the advice, as the world of Financial Aid is new and unfimilar to me. Thanks for all of the comments!!!</p>
<p>You really need to read each institution’s website very, very carefully to find out what the policies are. They write their own policies.</p>
<p>The FAFSA goes into a database. Databases are not 100% secure (the number may be far lower than 100%). Your tax information isn’t safe either.</p>
<p>I love the idea that you want a merit scholarship so you have something you earned. Both of my children are on merit scholarships, neither qualifies for FA. </p>
<p>As far as the SBO yes it does have no security. While you may have no personal ties to the business it is providing paychecks for both adults in your family and yourself. Should something change you would be in a very different financial situation.
As far as whether colleges with merit aid also take financial need into account, yes most probably do. Don’t forget that in order to see merit aid you need to be in the top percentage of applicants. It also helps if you are from an area they want to draw from geographically or if you are a URM.</p>
<p>If you are every in a situation when you do have financial need it could definitely hurt you that you didn’t fill out the FAFSA your first year. </p>
<p>For some schools you will also need to fill out the profile. Check each school carefully. </p>
<p>I would not think that not filling out the FAFSA would affect your chances ot acceptance. </p>
<p>As far as the security of the information, like everything you have to weigh the benefit against the risk.</p>
<p>Thanks so much for the additional posts!!!</p>
<p>Now I think I will push hard for my parents to fill out the FAFSA. I figured it was necessary, prompting me to post this thread, but it is nice to know WHY it is necessary, even for someone like myself who has no financial need. Also, it is nice to know how exactly the curveballs of me bieng an only child whose parents rely on income from a small business and have a large amount of personal assets will throw FAFSA, as well, so thanks for osting about the effects of those factors.</p>
<p>The reason why I mentioned security of the info as a question above is because that is one of the excuses my parents are currently using to dodge this form. So, I’ll tell them about its security, and come back with other excuses they decide to think up.</p>
<p>Are your parents guaranteeing to pay ALL of your college expenses for four years regardless of any financial changes in their lives? If so, they don’t need to fill out the FAFSA.</p>