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FAFSA: Mandatory?

Discussion in 'Pre-Medical - MD' started by GoodMorning, Jan 5, 2009.

  1. GoodMorning

    2+ Year Member

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    Please forgive me for this question, I would appreciate if I were not chewed out for asking:

    Is the FAFSA mandatory for all matriculating students? I did not do it for college, and I will be ineligible for need-based grants.

    I am not planning on taking out any loans, so I'm under the impression that I do not need to. However I would hate to find out months from now that schools need my financial information regardless.

    Thank you for your time and assistance!
     
  2. 236116

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    Unless Mommy and Daddy are writing a check for the full amount, yes, you need to fill it out.
     
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  3. MedMan25

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    You only need to fill out a FAFSA if you are applying for financial aid.
     
  4. scarletgirl777

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    I'm pretty sure you will need to fill out FAFSA for govt loans, which you will want because they have better interest rates. You just won't need to put in your parental information.
     
  5. silverhorse84

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    Yeah, I was just wondering this too. I called a school this morning to make sure they got my deposit and the secretary said something like "oh yeah and if you have any questions about FASFA feel free to call fin aid."

    But the military is paying, so I'm guessing I don't need to....right? :oops:
     
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  6. phospho

    phospho SDN Lifetime Donor
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    i see your point, but honestly, i would do it just in case you ended up needing loan money... you just never know what could happen... you won't lose anything if you do it, other than those few hours of actually filling out the application...

    :luck:
     
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  7. shiftingmirage

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    Only need it if you're requesting financial aide or loans. If you are paying out of pocket, then you do not need to fill it out.
     
  8. TMP-SMX

    TMP-SMX Senior Member
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    If you don't want loans, scholarships, or grants, and you have >250k in the bank then don't fill out the FAFSA. Also, if you don't fill out parental information you are not eligible for need-based loans, scholarships, grants, or institutional aid.
     
  9. 236116

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    School dependent.
     
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  10. TMP-SMX

    TMP-SMX Senior Member
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    True, but not only does parental info not hurt you, you aren't getting any Perkins loans without filling in parental information. Also, most schools do require parental info to be considered for any scholarships. That's the reason it states right in the FAFSA application that health professions students should consider adding parental information despite being considered independent for FAFSA purposes.
     
  11. 236116

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    Really? I didn't know that about Perkins, where did you hear that?
     
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  12. TMP-SMX

    TMP-SMX Senior Member
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    Perkins are 5k worth of need-based federal loans given to institutionally selected few students who meet the eligibility requirements. At Wayne you have to be under 18k EFC including parental information to receive them and scholarships like the Board of Gov scholarships at 9k a year. So what the FAFSA tells you is only your personal FAFSA EFC (usually 0). You have to do online calculators to estimate it.

    It is institutional specific on requirements and how they give them out since the school decides and not the federal government. Most schools that give them out require more forms about income and a general scholarship application form.
     
    #12 TMP-SMX, Jan 5, 2009
    Last edited: Jan 5, 2009
  13. funkymunkytoes

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    Fill it out. It takes an hour, and it can't hurt. Even if you are lucky enough to have parents that will pay for all of it, I would still fill it out. If your numbers are solid, you could be in line for institutional aid--you never know
     
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  14. GoodMorning

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    So, if you want to be considered for merit money, you need to fill out the FAFSA?
     
  15. indianstar

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    No, you do not need to fill it out. I only filled it out my first year of college and never did again because it didn't help. And to answer your most recent question, you should contact your institution about merit money. Different schools have different policies. But if the merit is only based on academic achievment, then the aid would probably be based off of your GPA and/or MCAT score.
     
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    #15 indianstar, Jan 5, 2009
    Last edited: Jan 5, 2009

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