<p>My parents did the FAFSA paperwork for my sister last year and our EFC was extremely high... with numbers like that we're not going to qualify for any aid.</p>
<p>Is there even a reason to go through the trouble of filling it out? I know some schools say you have to do it to even qualify for scholarships but others do not.</p>
<p>Thoughts?</p>
<p>You are fortunate that your family is able to pay for your college expenses. BUT one good reason to fill out the FAFSA (even if you don't think you will qualify for need based aid) is..what if your family's financial situation dramatically changes (job loss, illness, unanticipated major expense)? If you have the FAFSA on file already, your university can reconsider the finaid situation. If you don't you will need to fill it out anyway for consideration for need based aid. I know no one wishes to consider the idea of a catastrophic event regarding their finances but these things do happen. Also, some schools will not award merit aid unless you do the FAFSA. What's the harm in doing it? The worst you'll get is a "no you don't qualify for aid" (that is what happened with us). Also, by doing the FAFSA you will be offered an unsubsidized Stafford Loan. Our college student is taking those loans...they are low interest and are his contribution towards his college expenses. They are in the student's name.</p>
<p>Well, yes we're fortunate to be ABLE to pay for college, but unfortunetly they don't believe that that is their responsibility. I have a set amount that I am able to spend on college and that is far less then what college will cost me. It is my understanding that FAFSA considers the parents financial ability not their actual feeling of how much they want to contribute... So, I'll have to take out loans and hopefully get some merit based scholarships to make it.</p>
<p>Thanks</p>
<p>Thanks</p>
<p>Another good reason to fill out the FAFSA is because some schools use it to determine eligibility for Merit-based aid as well. So, if there are any university scholarships, then you will qualify for them, even if your EFC is too high.</p>
<p>I'll echo Brandon's remark - many schools offer merit-based aid only to applicants who file the FAFSA and any other paperwork required by the college to apply for financial aid. So, it's worth doing (even though the chance of a payback for the effort may be low).</p>
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<blockquote> <p>It is my understanding that FAFSA considers the parents financial ability not their actual feeling of how much they want to contribute.>></p> </blockquote>
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<p>This is absolutely true. The FAFSA does it's computations based family income and assets. It does not take into consideration that families may not WANT to pay for college.</p>
<p>I guess I don't really understand that rationale... My parents have allotted $60K for my college education. With most schools being upwards of $40K I've got to take out loans or get scholarships for the rest. I've already gotten some minor scholarships but obviously I'll need more.</p>
<p>... hopefully they'll realize that I will be -literally- a starving college student and they'll donate some money to the cause. :)</p>
<p>Thanks!</p>
<p>Oh, and I did apply to a selection of cheaper schools but I would really like to go to two in particular which are not in that grouping.</p>
<p>FAFSA sucks...it says my EFC should be $XX and there is no way in hell I can even come close to paying that amount.</p>
<p>The great thing is since your parents filled out the FAFSA last year, they pretty much have an idea of what thier EFC is going to be. Barring and unusual fluxuations in their income their EFC amy be pretty much the same this year. </p>
<p>The beauty of it is now that same EFC will be used for 2 student (because you will be in college ) instead of 1 student. </p>
<p>For example:</p>
<p>If your parents EFC was $50,000 with just your sister, it will now be $50,000 fro the 2 of you (not 50,000 per kid). If the schools do a 50/50 split, each of you will have an EFC of $25,000.</p>
<p>At some schools depending on what the EFC is you and your sister may just be eligible for some need based financial aid. So if you or your sister were attending a school that meets 100% of your financial need with a $40,000 sticker price and that school offers more grants/scholarhips, you may be in for a package that will meet the $15,000 of your demonstrated need.</p>
<p>So by all means they should fill out the FAFSA for both you and your sister.</p>
<p>If both you and your sister are both in college this coming year, you may both be eliglble for some aid as the threshhold changes sharply with two kids in college. The other reason for filling it out is that there are often merit aids that require it even if they do not use the numbers. A clear example of this are the West Virginia Promise awards that require a FAFSA to be filed, but financial need is not a factor if the student meets the academic requirements. There are a number of other programs like that. If the FAFSA is filed, you can get the info to the scholarship agency quickly. If it is not, there is going to be a delay and you could lose your chances at some money.</p>
<p>Does FAFSA consider the cost of the siblings school? My sister is on a full, all expenses paid scholarship so there is really no cost to may parents...</p>
<p>... and no, I haven't actually even looked at the form but my parents were compaining that they were going to have to fill out "that form" again. Wait til they hear that they have to fill out PROFILE too!</p>