The Free Application for Federal Student Aid isn’t fun, and no one wants extra paperwork! But during a webinar I attended this afternoon, there were many parents who thought they could (or should) skip the FAFSA, and their reasons were…. interesting. Let’s do a quick summary of what you need to know about the FAFSA.
Every year, Homeschooling for College Credit families ask great questions about financial aid, but mixed into those questions, I also see a lot of myths; maybe more accurately, they are misunderstandings of what the FAFSA is.
So let’s clear this up.
The FAFSA is simply a financial form. That’s all.
Yet because the FAFSA influences so many downstream steps (scholarships, grants, federal loans, work-study, and institutional aid), it often feels like much more. So today, we’re going to walk through the top misunderstandings I’ve seen this month from HS4CC parents and replace them with facts you can confidently rely on.
Myth #1: “If I already graduated from high school, I don’t get FAFSA.”
Truth:
FAFSA is the form you will use to apply for financial aid anytime you’re in school. The first time will likely be during high school, so you can use aid in the fall when college typically starts. You’ll also fill it out each academic year as long as you’re in school. P.S. No one “gets” FAFSA; remember, it’s just a form.
Myth #2: “I need a special FAFSA form for every college we apply to.”
Truth:
The FAFSA is a single universal form. There is only one FAFSA. The form is a snapshot of your financial situation, and thankfully, this form is filled out once and then used by every college you apply to. You can apply at:
https://studentaid.gov/h/apply-for-aid/fafsa
Myth #3: “FAFSA determines whether you can attend college.”
Truth: FAFSA has nothing to do with:
- Applying to a college
- Being accepted
- Registering
- Taking classes
- Transferring
- Choosing a major
You can attend college without ever filing a FAFSA. But, if you plan to receive a scholarship, grant, work-study, loan, or use anything other than cash – the process will likely require to see your FAFSA. But, if you’re paying cash and don’t want to fill it out, you don’t have to.
Myth #4: “We won’t qualify for FAFSA.”
Truth:
FAFSA is a form. No one qualifies (or doesn’t qualify) for FAFSA. Will your student qualify for a scholarship? For tuition discounts? For a loan? For a Pell Grant? Maybe yes at College A but no at College B. Individual colleges and scholarships each have requirements you may (or may not) qualify for. There isn’t “one” qualification. This is why students get different financial aid packages from different colleges. You won’t know what you qualify for until you’ve completed the FAFSA and sent it to every college you’re considering.
Myth #5: “FAFSA is a loan.”
Truth:
FAFSA is a form. After completing the FAFSA, each individual college will offer your student a financial aid “package” that will identify all programs they qualify for. It may include scholarships, grants, AND/OR loans. When your student chooses the college they will attend, they will select which parts of their financial aid package they want. Your student will likely have the ability to choose a loan, but they also have the ability not to – your student has full control over their decision to take (or not) a loan.
Bottom Line for HS4CC Families
The FAFSA is simply a financial form that opens the door to federal, state, and institutional aid. That’s it. It doesn’t enroll your teen, affect their admission, or sign them up for loans. Additionally, a college won’t generate a financial aid package until it reviews your FAFSA.
Think of FAFSA as a household’s annual financial snapshot.
You complete it.
You send it to colleges.
They review it and decide what aid they can offer. You review offers and decide what you want.
For HS4CC parents, understanding these basics helps you guide your teen with confidence.
If your teen plans to attend college in any upcoming academic year, file the FAFSA. It costs nothing, takes about an hour, and can unlock opportunities you didn’t expect.
Your teen doesn’t have to use federal aid.
But filing the FAFSA gives them the choice.
