I'm in a similar situation with my son - we don't qualify for need-based aid but I've been completing the FAFSA anyway. One thing I discovered is that some schools use FAFSA data to determine eligibility for subsidized vs unsubsidized federal loans, even if you don't need them right now. Also, if you're using a 529 plan like we are, having the FAFSA on file can help if you ever need to document education expenses for tax purposes or if the IRS has questions about your 529 withdrawals. It's become part of our annual financial routine now - just another form to complete alongside tax prep. Better safe than sorry, especially since the new version really is much faster than the old one!

As someone who just went through this decision process last year, I'd strongly recommend completing the FAFSA annually even if you're paying out of pocket. Here's why: my family was in almost the exact same situation - didn't qualify for need-based aid, using 529 funds, thought we could skip it sophomore year. Then my husband's company went through layoffs mid-year, and suddenly we needed to explore loan options. Having a current FAFSA on file made that process so much smoother when we were already stressed about the job situation. Plus, I discovered our state has some merit-based programs that require FAFSA completion regardless of income level. The 20-30 minutes it takes now feels like cheap insurance against unexpected changes in circumstances. Better to have it and not need it than need it and not have it!

To address your follow-up questions: 1. Yes, after covering accrued interest, you can request that extra payments be applied to principal. You typically need to specify this with each extra payment (either through the servicer's website or by including instructions with manual payments). 2. @profile9 raises a good point about exploring all options. Before committing to the full PPL amount, consider: - Additional scholarship searches (many smaller local scholarships go unclaimed) - Payment plans offered directly by the school (often interest-free) - Work-study if your student qualifies - Minimal federal direct student loans (which have lower interest rates than PPL) 3. You might also want to calculate the total cost of loan repayment using different payment strategies. The loan simulator at studentaid.gov is helpful for this.

As someone who's been through this process, I'd add a few practical tips: 1) Set up automatic payments as soon as your first disbursement hits - the 0.25% interest rate reduction really adds up over time, 2) Consider making payments slightly above the interest-only amount during school years so you're chipping away at principal too, and 3) Keep detailed records of all payments for tax purposes. Also, don't forget that you can deduct up to $2,500 in student loan interest on your taxes each year (income limits apply). The PPL system isn't perfect, but with careful planning it can be manageable. Good luck with your daughter's education!

Update: I got my SAI score today! It was processed without any issues or additional information needed. Thanks everyone for reassuring me that I wasn't going crazy. The new system is definitely different but I guess that's a good thing if it makes the process faster. Now to figure out what this SAI number actually means for financial aid...

Congratulations on getting your SAI! That's such a relief when you've been worried about whether everything went through correctly. For anyone else reading this thread who might be in a similar situation, Oscar's experience is a perfect example of how the new FAFSA process is supposed to work. The streamlined system with automatic IRS data retrieval has eliminated a lot of the manual data entry that used to cause so many errors and headaches. While the change confused those of us familiar with the old process, it's actually working as intended for most families. Thanks for sharing your update - it's helpful for other parents who might be experiencing the same anxiety!

Hey Malik! I'm actually in a very similar situation - I completed a dental hygiene certificate program a few years ago and I'm now applying for a BSN program. From what I've learned through my research and talking to financial aid counselors, you should definitely still be eligible for Pell Grants! The key things that matter are: 1. You haven't exceeded the 600% lifetime eligibility limit (your 2-year vocational program likely only used about 200% of that) 2. You meet the financial need requirements based on your SAI 3. You haven't already earned a bachelor's degree I'd strongly recommend scheduling an appointment with the financial aid office at your prospective nursing school. They can do a preliminary review of your situation and even help estimate how much Pell funding you might receive. When I did this, they were able to pull up my previous Pell usage and confirm exactly how much eligibility I had remaining. Also, don't forget to submit your FAFSA as early as possible - some nursing programs have limited spots and financial aid is often awarded on a first-come, first-served basis after you meet the eligibility requirements. You've got this! The healthcare field really needs more dedicated people like you who are willing to go back to school to advance their careers.

Hey Malik! I'm a recent nursing graduate and went through the exact same process you're describing. I had completed a pharmacy tech certification program before starting my ADN, and I was definitely still eligible for Pell Grants. One thing I wish someone had told me earlier is to also look into state-specific nursing grants and scholarships. Many states have programs designed to address nursing shortages and will provide additional funding beyond federal aid. For example, some states offer loan forgiveness programs if you commit to working in underserved areas for a certain period after graduation. Also, when you're filling out your FAFSA, make sure you select "working on my first bachelor's degree" since your vocational certificate doesn't count as a degree. This ensures you're evaluated correctly for maximum aid eligibility. The nursing shortage is real, and schools and states are really incentivized to help people like you make this career transition. Don't let financial concerns hold you back - there are more funding options available than most people realize!

Thanks everyone for the helpful advice! I feel much more confident now about finishing our FAFSA. To summarize what I've learned: - NO to reporting 401k/retirement accounts - NO to reporting our primary home - YES to reporting checking/savings accounts - YES to reporting our rental property (net value) - YES to reporting investments outside retirement accounts - Consider timing of submission if large purchases are planned - CSS Profile for private schools is different and more detailed I'm going to get this wrapped up this weekend! Thanks again!

Just wanted to add one more thing that helped me when I was going through this last year - make sure you double-check your state's deadline too! Some states have earlier FAFSA deadlines than the federal one for state aid eligibility. I almost missed out on $2,000 in state grants because I didn't realize my state's deadline was March 1st while the federal deadline was much later. Each state is different, so definitely look up your specific state's requirements. Good luck with everything!