Even if you don’t think you’ll receive financial aid, you should fill out the FAFSA.

According to National College Attainment Network’s FAFSA Tracker, 58.5% of families completed the Free Application for Federal Student Aid, or FAFSA for the 2024-2025 school year.

So why are over 40% of students deciding not to apply? They may believe their parents make too much or that they won’t qualify for another reason and don’t want to waste their time. 

But skipping the FAFSA can leave free money, access to student loans, and other opportunities on the table. 

Even if you don’t think you need it now you might wish you had later on. The FAFSA application window is open now.

Here’s why you should fill out the FAFSA even if you don’t think you’ll receive aid.

Your State May Require It

Even if you don’t think you need to fill out the FAFSA, you may still need to complete it in order to graduate high school. States like Louisiana, Illinois, and Texas require high school graduates to fill out the FAFSA before they can receive their diploma.

It also may be required to receive state-based aid. This is separate from federal student aid and is awarded based on state requirements. You might qualify for aid from your state but if you don’t complete the FAFSA you won’t receive it.

For example, if you’re looking to take advantage of one of the myriad of free community college programs, almost all of them require you fill out the FAFSA, regardless of your income.

Some states have strict deadlines and can run out of funds quickly. The sooner you apply, the better.

Merit Scholarships May Require It

Even though merit-based scholarships aren’t based on need, they still may require you to fill out the FAFSA. Schools and scholarship programs use data pulled from FAFSA to consider students for merit scholarships.

The Dell Scholars program is a scholarship offered by The Michael & Susan Dell Foundation to help students achieve their goals. Submitting your FAFSA Submission Summary is part of the application process. If you don’t fill out the FAFSA you could limit scholarship opportunities you might otherwise be a contender for.

Your School May Use FAFSA For Internal Aid

Schools also have scholarships and grants that they award to students, regardless of need. Students who receive internal funding are considered based on a number of criteria, including whether or not they have completed a FAFSA. If you skip it you might miss out on additional aid from your college or university.

For example, the Department of Asian Studies at the University of Texas at Austin offers funding to its students. In order to be considered, students must have a FAFSA on file with the university: 

FAFSA Is The Only Way To Get Federal Student Loans

Aside from being used to award grants and scholarships, the FAFSA is also used to issue student loans and determine other types of federal aid programs you might be eligible for, like work-study.

You cannot access federal student loans without first completing the FAFSA. These loans come with lower rates than private student loans and give you access to hardship and forgiveness programs that you won’t find with other lenders.

Federal student aid also comes with non-loan based opportunities like work-study. This gives you access to employment opportunities on campus like staffing an administrative office or working in a dining hall. If you don’t have a FAFSA on file, you might not be eligible for certain work opportunities.

While you might not think this is a big deal, it can actually be a good way to build your resume. When I was in college I worked at a campus think tank. While there, I met a professor who let me sit in on his graduate-level classes. He ended up writing a letter of recommendation for me that helped me win a scholarship to study Arabic in the Middle East. Had it not been for my work-study job, I would have never met him or won that scholarship.

Not All Aid Is Based On Income

Income is a core part of the FAFSA but it isn’t the only thing the FAFSA takes into account. Aside from financial information, that FAFSA also includes:

• Family size
• Number of college students in a household
• Extenuating circumstances like a sudden job loss or a divorce

While you might think your parents make too much to qualify for aid, if you have a sibling who’s also in school or your family is dealing with a hardship, you might actually be eligible for aid.

You May Need Aid Later

Things can happen changing your financial situation. Even if you weren’t eligible for aid in the past, a family emergency or a change in the economy could make you eligible this year.

If you don’t have a FAFSA on file you won’t be able to access emergency aid or student loans should you need it. Filling it out even if you don’t think you need to can give you some peace of mind in case your situation changes and you need aid later on.

The Application Process is Changing

The FAFSA Simplification Act was passed in 2020, making the process of applying for and receiving student aid easier. The law changes several criteria for eligibility. If you weren’t eligible in the past, these changes may make you eligible in the future.

One of the changes is replacing the Expected Family Contribution with the Student Aid Index. This new scoring system will simplify how Pell Grants are awarded which could increase access for some students.

You Never Know

Even if you don’t think you’ll qualify for financial aid, you never know. Filling out the FAFSA doesn’t cost anything but your time. If you wind up qualifying for a grant or scholarship that’s free money you won’t have to pay back. With the cost of college continuing to rise, filling out the FAFSA can help you save thousands of dollars on your total tuition bill later on.