Wealthy families should apply for college financial aid too.
January is an important time for families to complete the Free Application for Federal Student Aid, or Fafsa. Jan. 1 was the first day people could file this U.S. Education Department form for the 2016-17 academic year and with some types of assistance filing early may increase the amount students will receive.
Some well-off families don’t complete the Fafsa because they assume they won’t receive any aid. But most should file anyway, financial-aid experts say. Here are five reasons why: