Private College Student Loan

Does a college student have to send in a FAFSA application?

I'm in college and need financial aid to afford it. But I am not sure whether I have to send in a FAFSA application or can I just take out a private student loan to pay for my college. The money I get from the FAFSA doesn't cover all of my college expenses anyways, and I need to apply for an additional loan through a private loaner regardless. So is it okay for me to only apply for a private loan and to not even bother with a FAFSA? If anybody has any information on this topic please post an answer. Thank you.

Public Comments

1. only if you don't want to spend thousand of dollars on your own fafsa you don't have to pay back but if you get a student loan you have to pay every penny
2. Well you don't ever HAVE to apply for FAFSA. It is just an option. But in my opinion any free money hel is welcomed!! You should apply and then take the loan with what ever else you need. Good luck
3. Yes it is okay to only apply for a private loan, but I don't recommend it. My brother's FAFSA covered 75% of his tuition and expenses, so he just took out a loan for the other 25%.
4. I would say you need to send in a FAFSA either way because the private loan place is going to encourage you to take all the federal aid you can first before they allow you to borrow. My university requires it so don't listen to the first or second people who answered. Also if you plan on getting a private loan make sure if you are signing for yourself you have at least two years of employment and a few years of good credit. Obviously many college students don't meet these criteria. In other words just use a cosigner who trusts you that meets them.
5. Fill out the FAFSA and try to get whatever grants you can, and then get a loan for the rest of it. I'm sure a private lender would have try to get whatever financial aid you can first.
6. Most schools make you do the FAFSA anyways because you are entitled to any help that you deserve. But I would fill it out, that way the loan you re going to take out will be less and in turn, you will owe less. FAFSA gives you free money, you might as well take advantage.