FAFSA for those going to a private school

[DJLamar]

So I'm going to be at Cornell this Fall, a private school but also "the land grant school" for New York (I still have not committed to memory what exactly that means). Is it of any benefit whatsoever for me to fill out the FAFSA? I also have a university fellowship for the first year.

[red_crayons]

So I'm going to be at Cornell this Fall, a private school but also "the land grant school" for New York (I still have not committed to memory what exactly that means). Is it of any benefit whatsoever for me to fill out the FAFSA? I also have a university fellowship for the first year.

If you have a fellowship at Cornell, no. Might not be the same for other schools.

At Cornell, you don't need FAFSA for RA/TA either, although many other schools require it. Cornell lets departments determine how to dole out financial aid, and it's not (to my knowledge?) need-based. FAFSA is to determine financial need.

If you're NOT funded at some point and want to be eligible for federal loans, THEN you'll need to fill out the FAFSA.

You're in a private college (Engineering, right?), so the land grant status means nothing to you if you have funding. It does mean that the department is paying more for your tuition than if you were in a program on the contract (=land grant) side. If you ever take out loans, however... I'm sorry. Engineering tuition is way up there, maybe over $30k per year? You'll find that these tuition differences between the schools is a politically charged issue for the grad student assembly.

You should probably confirm all this with your department, too.

[Jae B.]

I was required to fill out the FAFSA. Some schools appear to use it for determining need-based financial aid, by looking at your EFC. Make sure you have no aid amounts pending FAFSA-verification. If you are positive your aid is finalized and you don't need federal loans, you don't need to fill out the FAFSA.

Personally, I'd fill it out just in case. If you're single and have your taxes squared away, filling out the FAFSA is quick and easy. I was surprised by how much easier it was for me this year, now that I'm not classified as a dependent.

Edited April 19, 2010 by Jae B.