Monday morning Q&A: the FAFSA and merit scholarships

Samantha asks:

Could a decision not to file a FAFSA for need-based aid negatively impact a student’s eligibility for possible merit scholarships? We have diligently saved for college and will not qualify for financial aid, but the cost still won’t be easy with other children at home. My child is a top student with a perfect GPA and near perfect test scores, and many applications ask if we will be applying for financial aid. We can’t lie and say yes. But checking “No” makes it seem like we don’t want help. Most financial aid departments have been somewhat vague when we ask.

Good question, Samantha. The foremost expert in all things financial aid and scholarships, Mark Kantrowitz, certainly wasn’t vague in this New York Times piece, “Answers to Readers’ Questions About Scholarships”:

“Never check off a box that says that you are not applying for financial aid. You can turn down the specific types of aid later. Some colleges will not consider your child for merit-based aid if you indicate that you do not need financial aid. Most colleges practice need-blind admissions, so checking the [“No”] box will not increase your chances of getting in.”

I’ll go even further than Kantrowitz does. Every admissions and financial aid officer, every knowledgeable counselor, and every qualified financial aid advisor I’ve ever heard, read, or actually spoken with about this topic advises against families assuming they will not qualify for need-based aid. The formulas are complex, they can vary by school, and they can be impacted by the strength of the student relative to the rest of the applicant pool at each college. You have nothing to lose but the time spent completing the forms.

For Samantha, and for any other readers who might still need some convincing to file a FAFSA, I’m sharing two past posts, here and here, that I hope will help you.

Thanks for your question, Samantha. I’ll answer a different question next week. Here’s the form if other readers would like to submit one of their own.