<p>As others have stated, the only thing the FAFSA does is qualify you for federal funds (Pell, SEOG, subsidized/unsubsidized stafford loans, Federal Work Study) based on your EFC.</p>
<p>
</p>
<p>This scenario would not happen.</p>
<p>The maximum Pell grant you would recieve having a “0” EFC is ~4300
The maximum subsidized stafford loan you would recieve as a freshman is 3500.</p>
<p>
</p>
<p>Of course you can opt out of the forms. You just won’t recieve any financial aid. </p>
<p>On the FAFSA they will ask you if you want loans and work study. You can opt to say no however, at many schools this will not increase your grant aid you will just have to make up the money in your aid package that would have come from workstudy / loans. </p>
<p>BTW, should the rich aunt give you money in year one, like Chedva state it probably will affect your aid in year 2 because some school will ask how you made up the short fall and if you received $$ from other sources.</p>