Should I Submit FAFSA Even if I'm Not Applying for Financial Aid?

Featured Stories

Filter By Categories

No one likes filling out the FAFSA - and you may be tempted to bypass this part of the college process if you think your child won’t qualify for financial aid. However, experts agree that when it comes to this decision, you shouldn’t trust your gut - take a deep breath, gather those documents and fill out the form. If you don’t, you may be leaving money on the table.

 

Everyone should fill out the FAFSA. Here are 3 reasons why:

 

You Never Know What You’ll be Eligible for

We occasionally hear from families who think there is no way they’ll be eligible for aid - but then they are surprised to find they are! Given how high tuition is these days, even a family with solid financial standing can qualify. This is especially true for schools that are generous with aid. Plus, there are non-income factors - such as other children in college - which can significantly lower your EFC. 

 

It Might be Required for Merit Aid

Many universities require all applicants to submit FAFSA information in order to be considered for merit aid (which is not dependent on a student’s financial situation). In those cases a higher EFC will not be a disadvantage - and it may lead to more money for college!

 

You Need to Submit the FAFSA for Federal Loans

Even if you don’t expect to get any federal need-based aid, you may decide to take out federal loans. Often federal loans have lower interest rates and will qualify for special loan forgiveness or repayment programs that are not available for private loans. In order to apply for the Direct Unsubsidized Loan and the Parent PLUS Loan, you’ll need to provide your FAFSA.

 

When it comes to college affordability, don’t limit your options prematurely. Remember that most students receive financial help of some kind when it comes to college. Every college allocates money differently, so maximize your chances of finding that perfect financial fit.

Edmit's advice helps you to be better off after graduation.

Merit and financial aid estimates based on your student profile

Earnings estimates and financial scores for your college and major

Recommendations to save thousands on college

I'm ready

Sign up for updates

Popular Tags

Financial Aid and Scholarships* Cost of College* paying for college financial aid FAFSA grants and scholarships Student Loans* Saving for College* federal student loans college tuition 529 plan cost of attendance expected family contribution financial aid award Salary and Career* college financial planning private student loans taxes college savings plan room and board on-campus housing merit scholarships college expenses federal financial aid merit-based financial aid private universities public universities budgeting for college edmit hidden gems parent PLUS loan college costs edmit team college applications living expenses CSS profile education expenses financial need income application fees financial aid appeal off-campus housing career loan forgiveness affordable college choosing a major college majors loan repayment student loan assistance work-study application fee waivers degree programs edmit scholarship institutional aid net price SAT choosing a college college visits in-state tuition prepaid tuition plans private scholarships repayment plans ACT budget college search free tuition international students internships need-based financial aid need-blind colleges qualified higher education expenses retirement savings southern colleges standardized testing student loan debt tuition discount tuition guarantee tuition payment plans 401k UGMA UTMA applying to college college ranking systems college spending credit score discretionary income education savings accounts fees financial literacy full ride scholarship grants health insurance options investment ivy league schools liberal arts degree meal plans midwestern colleges need-aware colleges out-of-state tuition saving school-based scholarships state aid western colleges 568 presidents group Inversant MEFA asset protection allowance best price campus life college advisor college credits college deposit college transfers concurrent enrollment cost by region cost by state crowdfunding dorms early decision educational expenses esports fee waivers financial wellness for-profit universities fraternities and sororities full tuition gap year graduate school home equity loan income share agreements line of credit lists medical expenses medical school military benefits net price calculators new england colleges non-profit universities out-of-state students percent need met private college consultant small business state schools student bank accounts student organizations title IV schools travel expenses tuition decreases tuition increases tuition insurance tuition reciprocity undocumented students