If you aren’t interested in the $5500 loan, then check with the school to see if FAFSA is required. Most colleges that my daughter applied to the FAFSA was not required. I think it’s best to do the FAFSA and then pick and choose which schools you want to send it to. I was a tad concerned that our high EFC could affect the amount of merit money my kid received even though schools say merit is not based on your income.