thumper1

I've noticed that there have been a number of questions about financial aid as this year's application process gets underway. I thought it might be good to have a thread with suggestions of things to do, and think about. I will start...and number my items. I would suggest that we cut and paste the ideas, thus creating a longer list. I know there are a LOT of you with great suggestions.

Preparing for Finaid Applications

1. First, have a discussion with your parents re: college finances. It is important to know what your family will consider contributing towards your college expenses BEFORE you apply to colleges.

2. Check the school websites. The deadlines and application forms requirements vary WILDLY from school to school.

3. Deadlines...Deadlines....Deadlines. Once you find out the deadlines, do not miss those dates. Have your information sent in advance of the deadline just in case there is a goof up and you need to resend something. If you don't apply on time, you jeopardize your chances of receiving finaid.

4. Make sure you have a financial safety in your mix of college applications. It is important to have a school that you would like to attend AND that you can afford to attend, regardless of financial aid.

5. IMPORTANT...If financial aid is a consideration...do NOT apply EARLY DECISION. Do NOT!! ED is a binding acceptance. When you apply ED, you are agreeing to attend the school if you are accepted. Don't assume that "not meeting your finaid" will easily release you from a binding ED acceptance. If you apply ED, you do not get the opportunity to compare financial aid packages from multiple schools. Yes, it is said that if the school does not meet your need, you can back out of an ED acceptance. BUT there are two things to remember....the SCHOOL determines your need, not your family. AND they can meet your need with loans as part of the package.

6. Keep good financial information for the tax year you will be using for your finaid applications. You may need to use this information to do estimated finaid application forms prior to when you complete your taxes.

7. Speaking of taxes...this is the year to complete your taxes (both you and your parents) ASAP after January 31 (which is when you should have all of your tax info..yes, I know the self employed have problems with this...but you self employed folks...do the best you can to get this done ASAP). This is NOT the year to do taxes on April 15.

8. The FAFSA is available online for filing on January 1 of the year your child is applying for finaid (e.g. Jan 1, 2008 for the 2008-09 school year). Plan to file very close to Jan 1 using accurate estimates using a "will file" status, meaning you will be filing your taxes for the 2007 tax year. Then complete your taxes ASAP after Jan 31, and you can amend the FAFSA online and resubmit indicating that you have filed.

9. Profile...in most cases you will be completing the Profile, if required by your school, at the same time as your FAFSA. BUT check those deadlines....if you are applying EA or ED, or for some scholarships, there could be a priority deadline for filing and this could be as early as October. And yes...you would be using accurate estimates. Sadly, the Profile cannot be amended online once your taxes are complete...you need to do that by hand and send to the college(s). But don't miss the priority deadline if there is one.

10. Check to see if your college(s) requires their own finaid application form. Some do...and these need to be completed as well.

11. Keep good records and copies of EVERYTHING. Print out your FAFSA and Profile, and tax returns (even if you do them online).

12. Look to see what a school requires. Some schools require income tax forms (signed) as part of the application process.

13. Important!! Some schools require completion of finaid forms for both need based AND merit aid. Make sure you understand what the college requirement is...don't assume anything...and remember again, that the requirements vary from school to school.

14. Use the online finaid calculators as they will give you an ESTIMATE of your Expected Family Contribution (EFC). These will NOT give you an estimate of your finaid award. There IS a difference.

15. You can only submit to six schools at one time for the FAFSA. If you apply to more than six schools, you will need to submit the application to the first six schools...wait until it is processed...then go in and amend. Delete the first six and add the others.

16. Full free rides are out there but they are not the dominant form of finaid offered.

17. Most schools (even those meeting full need) require a student contribution. Make sure you can meet this need as well.

18. Re: amending the FAFSA (after you complete your taxes)...the only info you amend is that which reflects the correct numbers from your tax returns. Your asset information (bank accounts, etc) is not changed UNLESS there was a mistake. If there was a mistake, you change the asset number to the correct one as of the date of your first filing of the FAFSA (this happened to us...we put an incorrect account down...and needed to change it to the correct one).

19. There is a locked thread entitled "Financial Aid Resources" at the top of this area. The sites there will provide you with a LOT of information and I would urge you to read them.

20. If you are an undergraduate student, your place of residency for financial aid purposes is the state in which your parents reside. It is NOT easy to get independent student status for financial aid purposes or in-state tuition in a state in which you do not reside.

Northstarmom

Realize that to get a free ride, you either have to be:
1. Poor and willing to go to Berea College, a Christian college that accepts only poor students and gives them free rides.

2. Poor and so stellar that you can gain acceptance to places like Harvard.

3. A Harvard-quality student of any income level who's willing to go to a 2nd or 3rd tier college that offers merit aid.

4. A Harvard EA (no, Harvard doesn't have EA any more, but if it did, you'd need to be of this quality) quality student who is so amazingly wonderful -- far, far above the normal outstanding student-- that a first tier place like Duke, Wake Forest or University of North Carolina would give you a free ride. You have to be so amazing that people are predicting you'll be a Rhodes Scholar some day.

Unless you are in one of the above categories, don't even dream of a free ride. Realize that you'll probably be like the majority of college students and have to take out close to $20 k in loans to pay for a total of four years of college. You also will be like the majority of college students and have to restrict your dream school to a place that you know you can afford -- which for most people means some in-state public school, not a gorgeous private reach school on the other side of the country.

Also expect to have to work summers to help pay for your college education.

thumper1

I just cut and pasted Northstarmom's items to the original list. If we all cut and paste when we add, it will save duplicates, and having to read the whole thread.

Preparing for Finaid Applications

1. First, have a discussion with your parents re: college finances. It is important to know what your family will consider contributing towards your college expenses BEFORE you apply to colleges.

2. Check the school websites. The deadlines and application forms requirements vary WILDLY from school to school.

3. Deadlines...Deadlines....Deadlines. Once you find out the deadlines, do not miss those dates. Have your information sent in advance of the deadline just in case there is a goof up and you need to resend something. If you don't apply on time, you jeopardize your chances of receiving finaid.

4. Make sure you have a financial safety in your mix of college applications. It is important to have a school that you would like to attend AND that you can afford to attend, regardless of financial aid.

5. IMPORTANT...If financial aid is a consideration...do NOT apply EARLY DECISION. Do NOT!! ED is a binding acceptance. When you apply ED, you are agreeing to attend the school if you are accepted. Don't assume that "not meeting your finaid" will easily release you from a binding ED acceptance. If you apply ED, you do not get the opportunity to compare financial aid packages from multiple schools. Yes, it is said that if the school does not meet your need, you can back out of an ED acceptance. BUT there are two things to remember....the SCHOOL determines your need, not your family. AND they can meet your need with loans as part of the package.

6. Keep good financial information for the tax year you will be using for your finaid applications. You may need to use this information to do estimated finaid application forms prior to when you complete your taxes.

7. Speaking of taxes...this is the year to complete your taxes (both you and your parents) ASAP after January 31 (which is when you should have all of your tax info..yes, I know the self employed have problems with this...but you self employed folks...do the best you can to get this done ASAP). This is NOT the year to do taxes on April 15.

8. The FAFSA is available online for filing on January 1 of the year your child is applying for finaid (e.g. Jan 1, 2008 for the 2008-09 school year). Plan to file very close to Jan 1 using accurate estimates using a "will file" status, meaning you will be filing your taxes for the 2007 tax year. Then complete your taxes ASAP after Jan 31, and you can amend the FAFSA online and resubmit indicating that you have filed.

9. Profile...in most cases you will be completing the Profile, if required by your school, at the same time as your FAFSA. BUT check those deadlines....if you are applying EA or ED, or for some scholarships, there could be a priority deadline for filing and this could be as early as October. And yes...you would be using accurate estimates. Sadly, the Profile cannot be amended online once your taxes are complete...you need to do that by hand and send to the college(s). But don't miss the priority deadline if there is one.

10. Check to see if your college(s) requires their own finaid application form. Some do...and these need to be completed as well.

11. Keep good records and copies of EVERYTHING. Print out your FAFSA and Profile, and tax returns (even if you do them online).

12. Look to see what a school requires. Some schools require income tax forms (signed) as part of the application process.

13. Important!! Some schools require completion of finaid forms for both need based AND merit aid. Make sure you understand what the college requirement is...don't assume anything...and remember again, that the requirements vary from school to school.

14. Use the online finaid calculators as they will give you an ESTIMATE of your Expected Family Contribution (EFC). These will NOT give you an estimate of your finaid award. There IS a difference.

15. You can only submit to six schools at one time for the FAFSA. If you apply to more than six schools, you will need to submit the application to the first six schools...wait until it is processed...then go in and amend. Delete the first six and add the others.

16. Full free rides are out there but they are not the dominant form of finaid offered.

17. Most schools (even those meeting full need) require a student contribution. Make sure you can meet this need as well.

18. Re: amending the FAFSA (after you complete your taxes)...the only info you amend is that which reflects the correct numbers from your tax returns. Your asset information (bank accounts, etc) is not changed UNLESS there was a mistake. If there was a mistake, you change the asset number to the correct one as of the date of your first filing of the FAFSA (this happened to us...we put an incorrect account down...and needed to change it to the correct one).

19. There is a locked thread entitled "Financial Aid Resources" at the top of this area. The sites there will provide you with a LOT of information and I would urge you to read them.

20. If you are an undergraduate student, your place of residency for financial aid purposes is the state in which your parents reside. It is NOT easy to get independent student status for financial aid purposes or in-state tuition in a state in which you do not reside.

21. Realize that to get a free ride, you either have to be:
1. Poor and willing to go to Berea College, a Christian college that accepts only poor students and gives them free rides.

2. Poor and so stellar that you can gain acceptance to places like Harvard.

3. A Harvard-quality student of any income level who's willing to go to a 2nd or 3rd tier college that offers merit aid.

4. A Harvard EA (no, Harvard doesn't have EA any more, but if it did, you'd need to be of this quality) quality student who is so amazingly wonderful -- far, far above the normal outstanding student-- that a first tier place like Duke, Wake Forest or University of North Carolina would give you a free ride. You have to be so amazing that people are predicting you'll be a Rhodes Scholar some day.

Unless you are in one of the above categories, don't even dream of a free ride. Realize that you'll probably be like the majority of college students and have to take out close to $20 k in loans to pay for a total of four years of college. You also will be like the majority of college students and have to restrict your dream school to a place that you know you can afford -- which for most people means some in-state public school, not a gorgeous private reach school on the other side of the country.

22. Also expect to have to work summers to help pay for your college education.

1MX

im printing this off for my mom, very helpful. THANKS

vanessama

thanks for the info!

DynamicDiva

thanks for the info its pretty helpful

weenie

^ Great list.

I'd just add that kids shouldn't put TOO much stock in what they read here on the forum in terms of individual scholarships and awards. Honestly, every single kid who has ever received a merit scholarship at, let's say, Vassar, Oberlin, Skidmore or U Chicago must be on this forum.

Understand that there is also a lot of confusion between need based aid and merit aid. So when a kid tells you he got a "full ride scholarship" do not assume it necessarily had much to do with his stats.

So, ask a lot of questions, scour college web sites, and try to gather some independent data (from College Board or US News) about your chances for money at any given school.

tehreemrehman91

What if according to your FAFSA calculator, your Estimated Family Contribution is 0 (on the index?) Should you still not apply ED to a place like Columbia?

momnipotent

FAFSA requires a PIN number for both the student and the parent. YOU apply for the PIN on the same website that you file your FAFSA. Both the student and parent must apply for the PIN numbers and they do take A COUPLE OF DAYS TO RECEIVE. If your deadline for filing with your school is 2 days away and you still haven't applied for your PIN, you may not make that deadline. Go ahead and apply for your PIN number as soon as the site allows. Good news is that your PIN and your childs PIN carry over from year to year. Each additional child will need their own PIN.

momnipotent

Didn't cut and paste that last one in case someone can add the date that you can actually begin applying for those PIN numbers.

thumper1

Don't forget to cut and paste...and then add any additional items. I just added Momnipotents info about PIN numbers.

Preparing for Finaid Applications

1. First, have a discussion with your parents re: college finances. It is important to know what your family will consider contributing towards your college expenses BEFORE you apply to colleges.

2. Check the school websites. The deadlines and application forms requirements vary WILDLY from school to school.

3. Deadlines...Deadlines....Deadlines. Once you find out the deadlines, do not miss those dates. Have your information sent in advance of the deadline just in case there is a goof up and you need to resend something. If you don't apply on time, you jeopardize your chances of receiving finaid.

4. Make sure you have a financial safety in your mix of college applications. It is important to have a school that you would like to attend AND that you can afford to attend, regardless of financial aid.

5. IMPORTANT...If financial aid is a consideration...do NOT apply EARLY DECISION. Do NOT!! ED is a binding acceptance. When you apply ED, you are agreeing to attend the school if you are accepted. Don't assume that "not meeting your finaid" will easily release you from a binding ED acceptance. If you apply ED, you do not get the opportunity to compare financial aid packages from multiple schools. Yes, it is said that if the school does not meet your need, you can back out of an ED acceptance. BUT there are two things to remember....the SCHOOL determines your need, not your family. AND they can meet your need with loans as part of the package.

6. Keep good financial information for the tax year you will be using for your finaid applications. You may need to use this information to do estimated finaid application forms prior to when you complete your taxes.

7. Speaking of taxes...this is the year to complete your taxes (both you and your parents) ASAP after January 31 (which is when you should have all of your tax info..yes, I know the self employed have problems with this...but you self employed folks...do the best you can to get this done ASAP). This is NOT the year to do taxes on April 15.

8. The FAFSA is available online for filing on January 1 of the year your child is applying for finaid (e.g. Jan 1, 2008 for the 2008-09 school year). Plan to file very close to Jan 1 using accurate estimates using a "will file" status, meaning you will be filing your taxes for the 2007 tax year. Then complete your taxes ASAP after Jan 31, and you can amend the FAFSA online and resubmit indicating that you have filed.

9. Profile...in most cases you will be completing the Profile, if required by your school, at the same time as your FAFSA. BUT check those deadlines....if you are applying EA or ED, or for some scholarships, there could be a priority deadline for filing and this could be as early as October. And yes...you would be using accurate estimates. Sadly, the Profile cannot be amended online once your taxes are complete...you need to do that by hand and send to the college(s). But don't miss the priority deadline if there is one.

10. Check to see if your college(s) requires their own finaid application form. Some do...and these need to be completed as well.

11. Keep good records and copies of EVERYTHING. Print out your FAFSA and Profile, and tax returns (even if you do them online).

12. Look to see what a school requires. Some schools require income tax forms (signed) as part of the application process.

13. Important!! Some schools require completion of finaid forms for both need based AND merit aid. Make sure you understand what the college requirement is...don't assume anything...and remember again, that the requirements vary from school to school.

14. Use the online finaid calculators as they will give you an ESTIMATE of your Expected Family Contribution (EFC). These will NOT give you an estimate of your finaid award. There IS a difference.

15. You can only submit to six schools at one time for the FAFSA. If you apply to more than six schools, you will need to submit the application to the first six schools...wait until it is processed...then go in and amend. Delete the first six and add the others.

16. Full free rides are out there but they are not the dominant form of finaid offered.

17. Most schools (even those meeting full need) require a student contribution. Make sure you can meet this need as well.

18. Re: amending the FAFSA (after you complete your taxes)...the only info you amend is that which reflects the correct numbers from your tax returns. Your asset information (bank accounts, etc) is not changed UNLESS there was a mistake. If there was a mistake, you change the asset number to the correct one as of the date of your first filing of the FAFSA (this happened to us...we put an incorrect account down...and needed to change it to the correct one).

19. There is a locked thread entitled "Financial Aid Resources" at the top of this area. The sites there will provide you with a LOT of information and I would urge you to read them.

20. If you are an undergraduate student, your place of residency for financial aid purposes is the state in which your parents reside. It is NOT easy to get independent student status for financial aid purposes or in-state tuition in a state in which you do not reside.

21. Realize that to get a free ride, you either have to be:
1. Poor and willing to go to Berea College, a Christian college that accepts only poor students and gives them free rides.

2. Poor and so stellar that you can gain acceptance to places like Harvard.

3. A Harvard-quality student of any income level who's willing to go to a 2nd or 3rd tier college that offers merit aid.

4. A Harvard EA (no, Harvard doesn't have EA any more, but if it did, you'd need to be of this quality) quality student who is so amazingly wonderful -- far, far above the normal outstanding student-- that a first tier place like Duke, Wake Forest or University of North Carolina would give you a free ride. You have to be so amazing that people are predicting you'll be a Rhodes Scholar some day.

Unless you are in one of the above categories, don't even dream of a free ride. Realize that you'll probably be like the majority of college students and have to take out close to $20 k in loans to pay for a total of four years of college. You also will be like the majority of college students and have to restrict your dream school to a place that you know you can afford -- which for most people means some in-state public school, not a gorgeous private reach school on the other side of the country.

22. Also expect to have to work summers to help pay for your college education.

23. FAFSA requires a PIN number for both the student and the parent. YOU apply for the PIN on the same website that you file your FAFSA. Both the student and parent must apply for the PIN numbers and they do take A COUPLE OF DAYS TO RECEIVE. If your deadline for filing with your school is 2 days away and you still haven't applied for your PIN, you may not make that deadline. Go ahead and apply for your PIN number as soon as the site allows. Good news is that your PIN and your childs PIN carry over from year to year. Each additional child will need their own PIN.

From Thumper...I believe you can apply for your PIN number at any time (now would be fine).

dadofsam

[With some notes added to the previous list]

Preparing for Finaid Applications

1. First, have a discussion with your parents re: college finances. It is important to know what your family will consider contributing towards your college expenses BEFORE you apply to colleges.

NOTE: You should expect more than one of these conversations as it becomes clearer what colleges will cost and what if any financial aid you have a chance of receiving.

NOTE TO PARENTS: In estimating college costs you shold estimate an overall (compounded) increase of about 7% each year. One year there will be a tuition increase, the next year dorms or food, but overall an average of about 7% annually from the previous year for something (or things).

2. Check the school websites. The deadlines and application forms requirements vary WILDLY from school to school.

3. Deadlines...Deadlines....Deadlines. Once you find out the deadlines, do not miss those dates. Have your information sent in advance of the deadline just in case there is a goof up and you need to resend something. If you don't apply on time, you jeopardize your chances of receiving finaid.

4. Make sure you have a financial safety in your mix of college applications. It is important to have a school that you would like to attend AND that you can afford to attend, regardless of financial aid.

5. IMPORTANT...If financial aid is a consideration...do NOT apply EARLY DECISION. Do NOT!! ED is a binding acceptance. When you apply ED, you are agreeing to attend the school if you are accepted. Don't assume that "not meeting your finaid" will easily release you from a binding ED acceptance. If you apply ED, you do not get the opportunity to compare financial aid packages from multiple schools. Yes, it is said that if the school does not meet your need, you can back out of an ED acceptance. BUT there are two things to remember....the SCHOOL determines your need, not your family. AND they can meet your need with loans as part of the package.

6. Keep good financial information for the tax year you will be using for your finaid applications. You may need to use this information to do estimated finaid application forms prior to when you complete your taxes.

7. Speaking of taxes...this is the year to complete your taxes (both you and your parents) ASAP after January 31 (which is when you should have all of your tax info..yes, I know the self employed have problems with this...but you self employed folks...do the best you can to get this done ASAP). This is NOT the year to do taxes on April 15.

8. The FAFSA is available online for filing on January 1 of the year your child is applying for finaid (e.g. Jan 1, 2008 for the 2008-09 school year). Plan to file very close to Jan 1 using accurate estimates using a "will file" status, meaning you will be filing your taxes for the 2007 tax year. Then complete your taxes ASAP after Jan 31, and you can amend the FAFSA online and resubmit indicating that you have filed.

NOTE in filling out the FAFSA be sure to take into account whether the past or current year is representative of your financial picture or is skewed for any reason.

9. Profile...in most cases you will be completing the Profile, if required by your school, at the same time as your FAFSA. BUT check those deadlines....if you are applying EA or ED, or for some scholarships, there could be a priority deadline for filing and this could be as early as October. And yes...you would be using accurate estimates. Sadly, the Profile cannot be amended online once your taxes are complete...you need to do that by hand and send to the college(s). But don't miss the priority deadline if there is one.

10. Check to see if your college(s) requires their own finaid application form. Some do...and these need to be completed as well.

11. Keep good records and copies of EVERYTHING. Print out your FAFSA and Profile, and tax returns (even if you do them online).

12. Look to see what a school requires. Some schools require income tax forms (signed) as part of the application process.

13. Important!! Some schools require completion of finaid forms for both need based AND merit aid. Make sure you understand what the college requirement is...don't assume anything...and remember again, that the requirements vary from school to school.

NOTE (Repeat emphasis): Some schools will automatically consider all students for merit aid while others will require a separate application. Some schools will require a FAFSA even if you are only applying for merit aid (or don't expect to receive any need-based aid). So check each school separately; don't make any assumptions, especially an assumption that what applies to college A will apply to colleges B through G.

14. Use the online finaid calculators as they will give you an ESTIMATE of your Expected Family Contribution (EFC). These will NOT give you an estimate of your finaid award. There IS a difference.

NOTE NOTE NOTE Do not expect that the school's estimate of your "Expected" Family Contribution will in any way match, or even come in the vicinity of your estimate of what you can afford. In most cases a school will estimate your expected contribution to be much higher than you think it should reasonably be (unless you are a pretty low-income family). Think of it similarly to sticker shock in buying a house.

15. You can only submit to six schools at one time for the FAFSA. If you apply to more than six schools, you will need to submit the application to the first six schools...wait until it is processed...then go in and amend. Delete the first six and add the others.

16. Full free rides are out there but they are not the dominant form of finaid offered.

17. Most schools (even those meeting full need) require a student contribution. Make sure you can meet this need as well.

18. Re: amending the FAFSA (after you complete your taxes)...the only info you amend is that which reflects the correct numbers from your tax returns. Your asset information (bank accounts, etc) is not changed UNLESS there was a mistake. If there was a mistake, you change the asset number to the correct one as of the date of your first filing of the FAFSA (this happened to us...we put an incorrect account down...and needed to change it to the correct one).

19. There is a locked thread entitled "Financial Aid Resources" at the top of this area. The sites there will provide you with a LOT of information and I would urge you to read them.

20. If you are an undergraduate student, your place of residency for financial aid purposes is the state in which your parents reside. It is NOT easy to get independent student status for financial aid purposes or in-state tuition in a state in which you do not reside.

NOTEL if you are an international student (family lives abroad, I believe even if you are US citizens) you have no state of residence and might not qualify for in-state tuition anywhere. You also are less likely to receive financial aid, depending on the school.

21. Realize that to get a free ride, you either have to be:
1. Poor and willing to go to Berea College, a Christian college that accepts only poor students and gives them free rides.

2. Poor and so stellar that you can gain acceptance to places like Harvard.

3. A Harvard-quality student of any income level who's willing to go to a 2nd or 3rd tier college that offers merit aid.

4. A Harvard EA (no, Harvard doesn't have EA any more, but if it did, you'd need to be of this quality) quality student who is so amazingly wonderful -- far, far above the normal outstanding student-- that a first tier place like Duke, Wake Forest or University of North Carolina would give you a free ride. You have to be so amazing that people are predicting you'll be a Rhodes Scholar some day.

Unless you are in one of the above categories, don't even dream of a free ride. Realize that you'll probably be like the majority of college students and have to take out close to $20 k in loans to pay for a total of four years of college. You also will be like the majority of college students and have to restrict your dream school to a place that you know you can afford -- which for most people means some in-state public school, not a gorgeous private reach school on the other side of the country.

22. Also expect to have to work summers to help pay for your college education.

23. FAFSA requires a PIN number for both the student and the parent. YOU apply for the PIN on the same website that you file your FAFSA. Both the student and parent must apply for the PIN numbers and they do take A COUPLE OF DAYS TO RECEIVE. If your deadline for filing with your school is 2 days away and you still haven't applied for your PIN, you may not make that deadline. Go ahead and apply for your PIN number as soon as the site allows. Good news is that your PIN and your childs PIN carry over from year to year. Each additional child will need their own PIN.

From Thumper...I believe you can apply for your PIN number at any time (now would be fine).

lawrene

Try a company called getcollegefunding.org. They are non profit, and have webinars with lots of good information, and lots of topics...college admissions, test prep, funding, etc. Get started early. Financial aid starts WAY before the student is ready to go to college...The first step for a college bound sophomore or junior (high school) is to learn your EFC. Go to seminars from companies who know what the process is. There are even webinars out there if you don't live in the area. There are legitimate companies out there who will help you through the process....just beware of the scam artists. There are lots of financial service companies who get your interest, and then try to sell you financial products, or insurance to pay for college. Beware of those too.

rsheth3

o ok thats what i thought

Splash3

I am doing the CSS. By remarriage, MS no longer will qualify fo need based aid as new husb savings meet the need by the 6% of asset rule. Should I bother with the CSS & FAFSA at school with no merit aid (Ivy)? Only safeties offer merit aid.