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FAFSA is not just a form—it’s the gateway to grants, scholarships, work-study programs, and even some merit-based aid. Failing to complete it can mean paying full sticker price when much of it could be reduced or covered entirely. Let's get into.
“The biggest lie about FAFSA? That only ‘poor families’ qualify. And believing it could be the most expensive mistake you ever make.”
Let’s be real: far too many students skip FAFSA because they assume it’s only for families who are struggling financially. This myth is not just misleading—it can literally cost students thousands of dollars every single year. The truth is, tuition continues to rise, and every dollar of aid can make a huge difference in whether a student takes on massive debt or graduates with far less financial burden.
Here’s the deal: FAFSA isn’t just for low-income families. It’s the gateway to grants, scholarships, work-study programs, and even some merit-based aid—all forms of financial assistance that can drastically reduce your college costs. In fact, even middle- and high-income families can qualify for significant aid depending on the cost of the school and family circumstances.
Filling out the FAFSA is not just a formality—it’s the first step toward making college affordable. Many families mistakenly think, “We earn too much; we won’t qualify,” and skip it entirely. But the reality is, “need” is relative. A family making $120,000 a year might not qualify for much aid at a $25,000 state school, but at a private college with a $70,000–$75,000 sticker price, that same family could be eligible for tens of thousands of dollars in grants or institutional aid.
Skipping FAFSA means leaving that money on the table—money that could pay for tuition, housing, books, or other college expenses. It’s not just lost aid—it’s unnecessary stress, more loans, and a bigger financial burden after graduation. By filing FAFSA early and every year, students can unlock opportunities they didn’t even know were available, protect themselves if life circumstances change, and maximize the financial support that colleges and the federal government provide.
A common myth: “We earn too much; FAFSA won’t help us.”
The truth? FAFSA considers financial need relative to the cost of attendance, not just raw income. This is determined using the Student Aid Index (SAI), which replaced the Expected Family Contribution (EFC) in 2024. The SAI accounts for income, assets, family size, and how many family members are in college simultaneously. For instance, a family earning $100,000 a year with two children in college might have an SAI of around $10,000. If the college’s cost of attendance is $70,000, the family could be eligible for $60,000 in need-based aid through a combination of grants, scholarships, and work-study.
Even families earning $120,000 or more annually may qualify for partial aid at private colleges, especially if multiple children are in college or there are high medical or other significant expenses. Failing to apply can mean leaving $5,000, $10,000, or even more on the table. That’s money that could have gone toward tuition, housing, books, or living expenses.
Maya comes from a middle-income family. She assumed FAFSA wouldn’t help her. After applying, she received a Pell Grant and institutional scholarships totaling $8,000 per year. That covered nearly a third of her tuition at a private college—simply because she applied.
Jamal’s parents earn over $120,000 per year. He thought FAFSA wasn’t for him, but after applying, he unlocked $4,500 in need-based aid plus a work-study position. This significantly reduced the amount he needed to borrow in student loans.
Consider a family of four earning $110,000 with one child in college. Using the SAI, they might qualify for $12,000–$15,000 in institutional aid. That could cover textbooks, housing, and part of tuition. These examples are common—students often miss out simply because they assume they “make too much.”
These aren’t outliers. They’re the norm for students who don’t assume “I make too much” = “I get nothing.”
FAFSA isn’t just about low-income families. Filing the FAFSA is the only way to determine your exact eligibility for federal, state, and institutional aid. Many scholarships, even merit-based ones, require FAFSA completion to be considered. By not applying, students automatically disqualify themselves from thousands of dollars in free money. Even if you think your family earns too much, the only way to know for sure is to submit the form.
Additionally, filing FAFSA early can give you a strategic advantage, as some schools award funds on a first-come, first-served basis. Waiting too long can mean missing out on grants or work-study opportunities that could have reduced your college costs.
Life doesn’t always go as planned. What if a parent loses a job? Or unexpected medical bills arise? Or your family’s financial situation changes mid-year? If you’ve already filed the FAFSA, you can appeal your aid package to reflect these changes. Many students increase their aid mid-year after updating their financial information, sometimes receiving thousands of extra dollars in grants.
FAFSA is more than a form for one year—it’s a financial safety net, protecting your future self. If you don’t file, you lose this flexibility.
To help students visualize eligibility, here’s an approximate table of SAI values based on family income and size for 2025–2026. These estimates show potential need-based aid eligibility:
The FAFSA myth—that only low-income families qualify—is not just wrong. It’s costly. It can keep students from getting thousands in grants, scholarships, and other aid they are legally eligible for.
Stop believing the myth. Stop leaving money on the table. File FAFSA, early and every year, and make sure you get the aid you deserve.
👉 Need help navigating FAFSA, maximizing your aid, and finding scholarships that fit your profile? Check out our Fund Your Future portal—your shortcut to making college affordable and stress-free.
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