
Flickr user The Bent Tree
Short answer: YES!
Longer answer: Regardless of your Estimated Family Contribution (EFC) everyone should file the FAFSA. The FAFSA enables students to measure their financial need, and become eligible for federal grants and scholarships, work study programs, and federal student loans.
Always Always Always File the FAFSA
Many students and their families don’t bother filing the FAFSA because they believe they won’t be eligible for any form of financial aid. While families that are more financially needy will likely get more aid, you’re still likely to qualify for something.
When it comes to financial aid, every little bit counts. You should do as much as you can to find funding for your college education. Even families with higher EFC can’t always afford paying everything out of pocket—and given the opportunities available, they shouldn’t have to.
So regardless of your financial situation, file the FAFSA.

The FAFSA Goes Beyond Federal Funding
Though the FAFSA is all about federal aid, it’s actually required of many other financial aid sources too. Most college award letters will require the FAFSA and there are many external merit scholarships that require it as well.
Filing the FAFSA
There’s really no reason to avoid filing the form. It’s free, it won’t take much time, and you can gain helpful federal aid for your efforts. And make sure you file it for every year you’re in college, not just once.
Use College Raptor’s free Student Loan Finder to compare lenders and interest rates side by side!
Lender | Rates (APR) | Eligibility | |
---|---|---|---|
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2.62% - 12.97% Variable
3.75% - 13.72% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
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1.29% - 12.99% Variable
3.15% - 14.75% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
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1.13% - 11.23% Variable
3.50% - 12.60% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
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1.75% - 10.54% Variable
3.22% - 13.09% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
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1.29% - 12.99% Variable
3.22% - 13.95% Fixed
|
Undergraduate and Graduate
|
VISIT COLLEGE AVE |
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1.66% - 6.21% Variable
2.94% - 7.15% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
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2.09% - 11.69% Variable
3.47% - 13.03% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
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1.86% - 11.52% Variable
3.20% - 11.99% Fixed
|
Undergraduate and Graduate
|
VISIT ELFi |