If you are one of the lucky few that are financially secure for such an expenditure, you may be certain that you will not qualify for financial aid. You may ask yourself, “Can I even submit a FAFSA if I’m not even going to qualify?”
While completing a FAFSA is certainly not a requirement for college admittance and attendance, there are five compelling reasons that illustrate why you should still submit one, even if you are able to afford college:
1) You may believe you are not needy of assistance based on your family’s yearly income, but aid eligibility is actually determined by objective financial criteria. Until you actually apply for aid, you will not know for sure whether you qualify. Also, financial security is very subjective; we all know families that make a modest income that live well beyond their means and feel secure, and families that make a significant amount of money that struggle to keep up with their expenses. A family cannot always judge its own neediness accurately.
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