Many people think they should only fill out the FAFSA if they have low-income. This is not true. The FAFSA should be filled out by everyone applying to college because the FAFSA is used for more than just income based financial aid.
You don’t have to be a valedictorian to win merit-based scholarships. Most schools require the FAFSA as a part of the application process for academic awards.
FAFSA Functions from FAFSA Website
http://federalstudentaid.ed.gov/about/index.html
- Educating students and families on the process of obtaining aid;
- Processing millions of student financial aid applications each year;
- Disbursing billions of dollars in aid funds to students through schools;
- Enforcing financial aid rules and regulations;
- Servicing millions of student loan accounts, and securing repayment from borrowers who have defaulted on their loans; and
- Operating information technology systems and tools that manage billions in student aid dollars.
Many colleges require students to fill out FAFSA forms to be eligible for merit-based scholarships.
Filling out the FAFSA can be confusing. Call our office for help at 630-907-9830.