Even well-off families may be in line for some financial aid. Plus, it could boost your odds of acceptance.
1. To qualify for other kinds of scholarships and grants. Some financial aid programs require a FAFSA even though they award aid without regard to family income. The Tennessee Promise, for example, offers all state residents two years of free tuition at a state community or technical college regardless of income, but it requires a FAFSA to make sure students maximize their federal aid first.
Some colleges also use FAFSA information as a deciding factor for students who are on the borderline for merit scholarships, says Robert J. Massa, senior vice president for enrollment and institutional planning at Drew University. An admissions officer looking at a student’s FAFSA may decide that, “They just miss qualifying based on need, and the student is close to qualifying for merit aid, so let’s award a merit scholarship because the family perceives a need” for aid, he explained.
2. To gain an admissions edge. In some cases, filing a FAFSA can actually help a student gain admission to a college, says Lucie Lapovsky, former president of Mercy College and now an educational consultant. Admissions officers know that students hoping for aid who don’t submit FAFSAs to the college are less likely to enroll, she says. So some schools may not want to waste an admissions letter on a student they think is unlikely to attend.
This article, 2 Reasons Why You Should Fill Out the FAFSA – No Matter How Rich You Are, was originally posted here.
Photo is from here.