If I won’t get need-based financial aid, do I have to file the FAFSA?
You are not required to file the FAFSA, but we believe you should for two reasons:
- By filing the FAFSA, you will open a line of credit with the federal government that will make the student and parents eligible for a user-friendly line of credit. This will let you take out student and parent loans in amounts up to the entire cost of college every year.
- By filing, you will erect a safety net under the family in case of an unforeseen financial disaster. If that should occur and if you have a FAFSA on file at the college, merely call the financial aid office and tell them that you have a “special circumstance.” This is an important first step toward reassessing your need for financial aid.