We have done the NPCs for most (though not all) of the schools D has applied to. We have no expectation for any need-based aid either federal or school granted. She has received (needed) merit money from all of the schools that have already accepted her.
One of her schools required that the CSS Profile be submitted by all applicants in November for EA, so we did that. I was thinking that at least one of the schools required that we also fill out the FAFSA as a requirement for receiving the merit aid, but I can’t seem to find that documented anywhere, so perhaps it was for a school that didn’t make the final list. (I’ll have D check on that.)
However, even if we need to fill out the FAFSA, I wasn’t seeing it as an urgent, time-sensitive thing for us. My understanding was that the reasoning behind filling it out early was because the federal resources are limited and that it’s first-come, first-served.
But now, on Facebook, I see other parents of a similar (middle to upper-middle class) socio-economic status talking about being all ready to fill out the FAFSA right away. I realize that you can’t know the realities of other families financial situations, but it would surprise me if all of these families had expectations of federal aid.
If I have an informed belief that filling out this form will not result in D receiving any additional funds, do I need to worry about filling it out early?
I agree with you, I don’t see it. They already have all your info on the CSS. The only thing I can think is a) don’t miss any firm deadline for it as shown on each school admission requirements page, b) your package may not be final without it, estimate only but I don’t see that as a problem.
you may need to fill out FAFSA if a school requires it for merit.
Some upper middle class people wrongly think that if they "have need’ that they will get federal grants after filling out FAFSA…they won’t. However, maybe their kids attend a school that is FAFSA only and that school uses EFC to maybe give “some” institutional aid.
Some middle class families may not qualify for grants but could still get work study, which, after need is factored in, is awarded 1st come 1st serve. They’re prob not thinking in those terms though.
For your case if a school requires it you can submit FAFSA after taxes are done if you want.
We did our taxes in Feb last year and submitted FAFSA around that time and we were surprised that we qualified for a state grant. Our EFC was too high for Pell. Some states have higher income limits and earlier deadlines.
For a student dependent on maximum Fed and state aid I would recommend to estimate income and submit FAFSA asap after Jan 1.
Could be early deadlines or just not wanting to procrastinate. Both of my kids applied to schools where the FASFA was required to get any aid (including institutional) and their deadlines for applicants were pretty early (Feb 1 I think for the most part and I think there was even a Jan 15 in there). It was just easier for us to prioritize to do it while we were still on break.
Could also be they’ve heard over and over again how important it is to do it early and they are just following the advice without really knowing why.