Do I really have to fill out the FAFSA?

FAFSA is a form that you need to complete if you are applying for need-based financial aid. But what if you believe your family will not qualify for any need-based aid? I work with many families who are convinced that they are too wealthy to qualify for need, but are not rich enough to write a $90k check every year for college. If you are one of those stuck-in-the-middle families, is it even worth it for you to take the time to fill out the FAFSA form?

Yes, yes, and yes.

Here’s why:

You might actually qualify. You never know! You might be surprised to find you qualify for some federal aid, such as unsubsidized student loans, regardless of your financial situation.Unless you’re a billionaire, it’s worth it just to see.

Some schools want FAFSA completed, even if you’re only looking for merit scholarships. Some colleges and scholarship programs require a completed FAFSA to be considered for merit-based aid. I don’t make the rules. I’d err on the side of caution and just have FAFSA filled out so you qualify for all potential school-based, institutional aid.

Life is unpredictable. When my young husband was diagnosed with cancer out of the blue, I learned how drastically life circumstances can change. It’s an uncomfortable truth to sit with, but your family’s financial situation can change unexpectedly. Maybe it’s not a cancer diagnosis… maybe it’s a job loss or a divorce. Having a completed FAFSA on file ensures you're eligible for aid if your circumstances change.

State-ing the obvious: Many states use the FAFSA to determine eligibility for state-based financial aid programs, like the TAP grant in New York. Find information about your state here.