FAFSA question

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PRBWJB

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My dd's school counselor says everyone needs to create a FAFSA account. I know there is virtually zero chance we will receive any aid (own our home, dh makes a good income, no debt, etc.). DD is being told that some school require it even if the student is not in the running for aid. Is this true?

Any personal experience with this?
 
Adding to what @THParent said, you never know what the future holds, either. Situations do change. It COULD come up that loans are needed perhaps, from unforeseen events in you or your parents lives, and this is how you get student loans (vs free financial monies), as well. Such a Pell Grants.

Also, some schools do have automatic ‘scholarships’ you may not know about, that will be applied from a FASFA. That happened to my oldest son. 2,500$ off each semester. Every little bit helps!

Don’t know about ‘some schools requiring it’. But it would make sense to me.
 
Completing the FAFSA is optional, however, failure to do so locks one out of pretty much any loan program, grant or scholarship. The processed FAFSA application will spit out something called an "expected family contribution", which is no way reflects what you will actually pay.

I too (nearly) own my on home (only reason I don't pay it off today is for tax purposes), a farm, and a rental (in which my 3 students currently live). I also make a very good wage, though I have enough retirement savings, I could retire today. My 3 college students have nice fat 529s. I am a heterosexual, , white (biological) male, married to a heterosexual white (biological) woman (ok so wife is an eighth Cherokee, but not a tribal member, so we don't ever put that down). I filled out the FAFSA for all three, expecting, like you, not any assistance.

Daughter #1 got a $1,000 grant this semester. One twelfth of total yearly expenses, but it helps. Since she is a history major with an education minor, the state is begging her to accept a teacher scholarship, but she (and I) don't want her at the mercy of the state board of education when she graduates.

Son is a pretty average guy, and I paid full price for him. He's trying to get his grades up and get contracted with ROTC and into the ROTC SMP program which will pretty much cover his college expenses.

Daughter #2, whose life I ruined by making her repeat 2nd grade, has had a 4.0+ GPA ever since, and received an academic merit scholarship which fully paid her tuition this semester (roughly $6K).

To put my savings in perspective, the "savings" amounts to 7 mortgage payments on my students' college townhouse.

So do or do not. You don't know what you will get unless you fill it out.
 
Agree with brewmeist, even if you do not "need" financial aid, your student will not be eligible for many (most) scholarships unless their is a financial aid application with FAFSA. I recommend completing the FAFSA even if you do not think you will be requesting financial aid.
 
There have also been cases where you can't get on-campus employment without passing through the financial aid filter, which may require FAFSA. In general it's not that big a deal to fill out and there are unexpected times you might need it. But if your circumstances lead you to not foresee any contact with the FA office then you can probably opt out.
 
2 of the schools that have already accepted my ds with generous merit packages require the FAFSA to accept the merit. We haven't filled it out yet but I'm prepared for an amuzing EFC.
 
It’s not hard to fill out. Make sure you have access to both your child’s cell phone and your own cell phone to verify your id’s. That tripped me up because I started doing it early before DS woke up and I didn’t have his phone. Also you will need your tax return from 2020. I called the helpline on a Sunday afternoon actually got through to a person who was quite helpful.
 
NJROTC-CC said:
It’s not hard to fill out. Make sure you have access to both your child’s cell phone and your own cell phone to verify your id’s. That tripped me up because I started doing it early before DS woke up and I didn’t have his phone. Also you will need your tax return from 2020. I called the helpline on a Sunday afternoon actually got through to a person who was quite helpful.
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This is why I haven't finished it yet!! My child is so dang busy, we are rarely in the same room to get the verification codes.
 
PRBWJB said:
This is why I haven't finished it yet!! My child is so dang busy, we are rarely in the same room to get the verification codes.
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Same here. I tried it without him and got locked out and had to call the helpline.
 
PRBWJB said:
My dd's school counselor says everyone needs to create a FAFSA account. I know there is virtually zero chance we will receive any aid (own our home, dh makes a good income, no debt, etc.). DD is being told that some school require it even if the student is not in the running for aid. Is this true?

Any personal experience with this?
Click to expand...
Fill out the FASFA! You never know if dd will need it later on. My DD was awarded merit $$ before the school knew she would be attending with ROTC. Flash forward two years' later when unexpected life events she ended up with a LOA for a semester and had to pay her own way (she subsequently made deans list 2x, thereafter and commissioned, so happy ending). We went to the Bursar office to inquire and notify them that there would not be ROTC paying tuition. The university honored the merit scholarship she was offered as a freshman, so that she did not have to pay full price tuition that semester! Had we not done the FASFA, there would not have been this discounted tuition available. Good luck to your DD!
 
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