Is filing FAFSA worth it with high assets but not wanting loans?

YES! Always file the FAFSA regardless of income or assets. Here's why: 1. Some merit scholarships (which aren't need-based) still require FAFSA submission as part of their application process. 2. Many schools won't consider you for ANY institutional aid without a FAFSA on file, even for merit scholarships. 3. If your financial situation unexpectedly changes (job loss, medical emergency), having an existing FAFSA makes it easier to request a financial aid adjustment. 4. Federal Direct Unsubsidized loans don't have income requirements - they're available to all students regardless of need. I know you mentioned not wanting loans, but it's good to keep options open. 5. Some state-based programs require FAFSA regardless of need. The FAFSA takes about 30-45 minutes to complete. The potential benefits far outweigh the small time investment.

Something important to understand is that FAFSA doesn't just determine Pell Grant eligibility. Your Student Aid Index (SAI) is used by colleges to allocate their institutional funds too. While your income and assets will give you a high SAI, some private colleges have significant endowments and might offer scholarships even to families in your bracket. Also, the Direct Unsubsidized Loans don't require demonstrated need, and frankly, with their fixed interest rates, they can sometimes be a smart part of an overall financial strategy even if you can pay cash. Never hurts to have options. One last thing - remember that financial situations can change. If something unexpected happens during your daughter's college years, having the FAFSA already on file makes adjustments easier.

dont wast ur time if u make that much lol. my brother in law makes 120k and didnt get NOTHING except for some loans they tried to push on them. his daughter got some merit $ but that had nothing to do with fafsa!!!!

If you're absolutely certain you won't qualify for need-based aid and are philosophically opposed to all loans, there's really only one reason to still file: some merit scholarships still require it. I suggest calling the financial aid offices at the specific colleges your daughter is considering and asking them directly if FAFSA is required for merit scholarships. Different schools have different policies. By the way, with the new FAFSA simplification, the form is supposedly easier to complete (though this year was a disaster with the rollout). It might take you 1-2 hours total, so it's not an enormous commitment if there's any chance of benefit.

When we were in your position, we discovered something important: some colleges actually view your willingness to complete the FAFSA as demonstrating interest in their school. We found two private colleges that considered FAFSA completion as part of their admissions evaluation! It signals you're serious about potentially attending. If your daughter is applying to selective private colleges, I'd definitely complete it. For large state schools where she might be getting automatic merit aid based on stats, probably less important.

I was in your EXACT situation last year with similar income and assets. Tried calling Federal Student Aid about whether we should even bother filing and spent FOUR HOURS on hold before getting disconnected. Tried again next day, same thing. I finally used Claimyr (claimyr.com) to get through - they called and held my place in line, then called me when an agent was available. Saved me literally hours of frustration. You can see how it works here: https://youtu.be/TbC8dZQWYNQ The FSA agent confirmed what others said - some merit scholarships require FAFSA even if you don't qualify for need-based aid. We ended up filing and my son got a $22K/year merit scholarship that required FAFSA submission!

my daughter got a full ride scholarship (merit based) at UT and they still made us do the fafsa!! it was super annoying cuz we knew we wouldn't get any aid but they said its required for ALL scholarships at the school no exceptions. just call the schools and ask but id say just do it to be safe

One more thing to consider - the current FAFSA formula and Student Aid Index (SAI) calculation has undergone significant changes for the 2025-2026 aid year. Some families who wouldn't have qualified under the old system might see different results with the new methodology. The new formula treats assets and income somewhat differently than before. It's also worth noting that some institutional methodologies (like the CSS Profile used by many private colleges) calculate need differently than the federal methodology. With college costs continuing to rise (average private college now exceeds $65K/year total cost), the definition of "wealthy" for financial aid purposes has also shifted at some institutions. Some highly selective private colleges now provide aid to families making up to $200K or more.

After reading all the advice here, let me offer a realistic summary: 1. FAFSA takes 1-2 hours to complete with your financial situation 2. You likely won't get need-based aid 3. Some merit scholarships require it regardless 4. Some institutions use it for all institutional aid decisions 5. Having it on file helps if your financial situation changes The opportunity cost is small (1-2 hours) while the potential benefit is large (potential access to scholarships). From a purely logical standpoint, completing the FAFSA is the rational choice even if you're relatively confident you won't qualify for need-based aid.

As someone who works in college financial aid, I want to echo what others have said - definitely file the FAFSA! Even with your income and assets, here are some additional points to consider: 1. **Work-study eligibility** - Federal Work-Study programs sometimes have different income thresholds than other need-based aid, and these can be valuable for students who want campus employment. 2. **Professional judgment adjustments** - If you experience unexpected circumstances (job loss, medical expenses, divorce, etc.) during college, schools can make adjustments to your aid package. But they need a FAFSA on file first. 3. **Graduate school preparation** - If your daughter plans to attend graduate or professional school, having FAFSA experience and understanding the process will be helpful later. 4. **State aid programs** - Many states have their own grant programs with different income cutoffs than federal aid. Some are surprisingly generous for middle-to-upper-middle-class families. The new FAFSA is definitely more streamlined than previous versions, especially if you can import your tax information directly. Given your daughter's college timeline, you'll be using the improved system that's had most of its initial bugs worked out.

I'm a newcomer here but wanted to share my perspective as someone who just went through this exact situation last year. We had similar income ($150K combined) and assets, and I was really torn about whether to file FAFSA. After reading through all the great advice here, I'm glad we ended up filing. While we didn't get any need-based aid as expected, my son received a merit scholarship at his top choice school that absolutely required FAFSA submission - even though the scholarship itself wasn't need-based. The financial aid office told us they wouldn't even consider him for the merit award without it. One thing I'd add to the discussion: some schools use FAFSA data for their own institutional research and planning, even if they don't give you aid. It helps them understand their student body demographics. So filing it can sometimes work in your favor in unexpected ways. The process really wasn't as painful as I anticipated - took about 90 minutes with all our investment accounts and tax documents. Definitely worth it for the peace of mind and keeping all options open. Good luck with your daughter's applications!

As a newcomer to this community, I wanted to chime in with my recent experience that might be helpful. We were in a very similar situation - household income around $140K and substantial assets. I was initially hesitant about filing FAFSA because I assumed we wouldn't qualify for anything. However, after reading through all the excellent advice here, I decided to file anyway. While we didn't receive any need-based aid (as expected), I discovered something important: two of the colleges my daughter applied to had merit scholarships that were only available to students who had completed the FAFSA, regardless of their financial need level. One school's admissions counselor explained that they use FAFSA completion as a way to identify families who are serious about the financial aspects of college planning. It's apparently become part of their "demonstrated interest" evaluation. The actual filing process took me about 2 hours with all our investment accounts and documentation, but it was much more straightforward than I anticipated. The potential upside (access to merit aid) far outweighed the time investment. My advice: definitely file the FAFSA. The "what if" scenarios alone make it worthwhile, and you never know what opportunities might open up that you weren't even aware of.

As a newcomer here, I wanted to add my perspective after reading through this helpful discussion. I'm currently going through this exact decision process with my son who's a junior, so we'll be filing next year. What really struck me from reading everyone's experiences is how the landscape has changed. It seems like FAFSA has become almost a "table stakes" requirement - not necessarily because you'll get need-based aid, but because so many other opportunities are gated behind it. The point about demonstrated interest is particularly compelling. If colleges are using FAFSA completion as a signal of serious intent, that alone could impact admissions decisions at competitive schools where every edge matters. I'm also thinking about this from a risk management perspective. The downside is pretty limited (a few hours of paperwork), but the potential upside could be significant. Even if there's just a 10% chance of accessing merit aid or other opportunities we don't know about, the expected value calculation clearly favors filing. Thanks to everyone who shared their real-world experiences - this thread has been incredibly valuable in helping me think through this decision!

As a newcomer to this community, I wanted to share my thoughts after reading through all these incredibly helpful responses. The consensus here is pretty clear - filing FAFSA is worth it even for higher-income families. What really resonates with me is the risk-reward analysis that several people have mentioned. The time investment is relatively small (1-2 hours), but the potential benefits could be substantial. I hadn't realized how many merit scholarships require FAFSA submission regardless of financial need, or that some colleges use it as a measure of demonstrated interest. The point about keeping options open in case of unexpected financial changes is also really important. Life can throw curveballs, and having that foundation already in place could be crucial if circumstances change during the college years. I'm also struck by how the financial aid landscape seems to have evolved. It sounds like FAFSA has become almost a prerequisite for accessing the full range of opportunities at many institutions, not just for need-based aid but for merit aid and other programs as well. Thanks to everyone who shared their real experiences - this discussion has been incredibly valuable for families navigating these decisions!