Is FAFSA worth completing for high-income families applying to private out-of-state schools?

Yes, you should absolutely complete the FAFSA even with higher income! Here are several important reasons why: 1. Many private schools require FAFSA for ALL institutional aid - including merit scholarships. They use it as part of their overall financial evaluation process. 2. Some private schools have much higher income thresholds for aid than you might expect - especially the elite ones with large endowments. Your income might seem high, but factors like multiple children in college simultaneously can significantly impact your SAI (Student Aid Index). 3. The FAFSA is required for unsubsidized federal student loans, which have better rates and terms than private loans, regardless of income. 4. If your financial situation changes during the academic year (job loss, medical issues, etc.), having a FAFSA on file makes it much easier to appeal for additional aid mid-year. Bottom line: completing the FAFSA keeps all options open and takes relatively little time compared to the potential benefits.

we didnt fill out fafsa last yr for my son cause we made too much $$ and then found out he couldnt get ANY scholarships at his private school without it!! had to rush and do it last minute, such a pain. just do it now save urself the headache later

ABSOLUTELY FILE THE FAFSA!! I've worked in college financial aid offices for over 20 years, and I can tell you with 100% certainty that many private institutions won't even CONSIDER students for merit scholarships without a FAFSA on file. It's used as an administrative tool for ALL types of aid packaging, not just need-based. Also, your income may be high, but the SAI calculation considers many factors beyond just income - number of dependents, age of parents (retirement proximity), other children in college, etc. I've seen families with incomes over $300K still qualify for some institutional aid at private colleges with high costs of attendance. At minimum, filing ensures access to the Federal Direct Unsubsidized Loan ($5,500 for freshmen) which has much better terms than any private loan alternatives. Don't make assumptions about aid eligibility! The 2025-2026 FAFSA has changed significantly and you might be surprised.

Something no one has mentioned - the CSS Profile! Many private colleges (including NYU and Boston University) require BOTH the FAFSA and the CSS Profile for ANY institutional aid. The CSS Profile is even more detailed than FAFSA and has a fee, but it's required by about 200 private colleges for their institutional aid programs. Since your daughter is looking at selective private universities, you'll likely need to complete both forms. Check each school's financial aid website for their specific requirements - some only need CSS for need-based aid while others require it for all institutional scholarships. Also, if your daughter is applying for outside private scholarships, many of those organizations also require FAFSA information as part of their selection process.

I was in exact same situation last year! Income around $400k, daughter applying to expensive private schools. I almost skipped FAFSA but our college counselor insisted we complete it. Turns out, three things made it worthwhile: 1. One school offered us a small institutional grant anyway because we had another child already in college 2. We qualified for unsubsidized federal loans which have MUCH better terms than private loans 3. Most importantly - my husband unexpectedly lost his job in February of her freshman year, and having the FAFSA already on file made the aid appeal process much faster My advice: spend the hour it takes to fill it out. The worst case is you wasted an hour. Best case, it opens doors to funding you didn't expect.

i sware some schools just use fafsa to see how much they can charge u... if u look rich they give u less merit $$ even if ur kid is super smart! its all a big scam if u ask me

I tried calling Federal Student Aid directly to ask this exact question last month and spent THREE HOURS on hold only to get disconnected! Then tried again and same thing happened. Finally found out about Claimyr.com which got me through to a real person in about 15 minutes. They have this callback service where you don't wait on hold. There's a video showing how it works: https://youtu.be/TbC8dZQWYNQ The agent confirmed that yes, the FAFSA is still required for unsubsidized loans regardless of income AND many private schools use it for merit aid eligibility. Worth calling to ask about your specific situation!

One more important point - if you don't complete the FAFSA, your daughter won't be able to take advantage of the Federal Work-Study program, which can be a great way to earn money on campus with a job that works around her class schedule. Even if you don't need the money, these positions often provide valuable experience and connections.

As someone who went through this exact scenario two years ago with my twin daughters applying to similar schools, I can't stress enough how important it is to file the FAFSA! We're in a comparable income bracket and initially hesitated for the same reasons. Here's what we discovered: Both NYU and BU specifically state on their websites that FAFSA completion is required for consideration of ANY institutional aid, including merit scholarships. We actually called both admissions offices directly to confirm this. Even more importantly - having twins in college simultaneously dramatically changed our aid eligibility despite our high income. The FAFSA calculation considers multiple children in college as a major factor, and we ended up receiving some institutional grants we never expected. Also, don't underestimate the value of those federal unsubsidized loans. At current rates, they're significantly better than any private loan option, and the repayment flexibility is unmatched. The new FAFSA is actually simpler than the old version once you get started. It took me about 45 minutes per student, and that small time investment opened doors we didn't even know existed. Trust me - just do it!