<p>Sorry if this is covered elsewhere - Like many I assume that we'll never get aid for my DD (currently HS senior applied ED to expensive school, of course) given upper middle class salary, home equity, etc. I figured we'd bite the bullet and change our lifestyle like many on this board. Our financial situation may be quite different next year. If we don't file forms this year but will need to get aid in the future will it be a problem that we didn't file FAFSA and PROFILE from the start?</p>
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<blockquote> <p>If we don't file forms this year but will need to get aid in the future will it be a problem that we didn't file FAFSA and PROFILE from the start?>></p> </blockquote>
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<p>Check with the specific schools. Some clearly state that you must apply for finaid the first year to qualify in subsequent years (I'm not sure they can make this statement about federal aid, but they can say anything they want regarding institutional aid) Expecially since you say your situation will be quite different next year, you SHOULD apply. Also, while you hope that your financial situation won't change during the upcoming school year, that possibility exists for everyone (except the independently wealthy). If you have an unforeseen job loss or other loss of income, significant reduction in income, unexpected medical expenses, etc, you may want the school to reconsider your financial aid during the school year. The last thing you will want to do if there is a crisis if fill out the FAFSA and Profile from scratch. Better to have it on file now. Then you would need to show only the significant change in our financial situation. We are in the same boat you are in...we did the forms every year the kids were in college (only what the school required)...just in case. Also, be alerted that some schools require that their finaid application process needs to be completed for ALL financial aid, including merit aid.</p>