Is FAFSA required to get subsidized loans?

thumper1
Thu, 11 Jul 2019 13:14:47 +0000

Rochester expected us to pay $67,168 this coming year, and they purport to meet full need. Why the discrepancy

Rochester uses the financial information on the Profile to calculate their institutional need based aid. The Profile looks far more in-depth at your finances. Things like primary home equity are included. If your family owns a business or is self employed, it’s possible Rochester dealt with that differently as well.

@taverngirl, it sounds like you already completed the 2019-2020 FAFSA and Profile…is that correct?

BUT your daughter will be transferring to another college for 2020-2021…and you don’t plan to submit a FAFSA or Profile. If you don’t submit these forms, your daughter will be a full pay student at these colleges. She CAN submit the FAFSA later for the purpose of getting only the federally funded loans…which in your case sound like they would be unsubsidized.

BUT you need to read carefully if you need institutional need based aid. If a school is need aware, and your daughter applies for admission, that school might not allow a later submission for need based institutional money.

I guess I wonder why you don’t plan to submit the financial aid forms. If this is to get a “bump” in admissions consideration, it’s not going to be much of one for a transfer student.