When it comes to paying for college, fall can sneak up on you fast. When applying for financial aid, students will need to file FAFSA (Free Application for Federal Student Aid), which opens on October 1, and possibly the CSS Profile, which some colleges may require to award institutional aid. Getting a head start now can save you from stress later. Think of this as your prep season! Just a little work now makes a huge difference later when deadlines start coming up. Here’s what you can do now to prepare!
FAFSA Overview
The FAFSA is your gateway to federal financial aid, including grants, work-study programs, and loans. Nearly every college requires it, and it’s used to determine your family’s financial need. As a reminder, I encourage you to fill it out as quickly as possible because financial aid is first come, first serve!
CSS Profile Overview
The CSS Profile is a financial aid form used by some private and a few public colleges to determine eligibility for institutional aid. Unlike the FAFSA, it digs deeper into your family’s finances and may require more detailed information about assets and expenses. Do some research and see if the schools you’re applying to require a CSS Profile.
The CSS Profile is administered by the College Board, and unlike FAFSA, there are fees associated with filing. It costs $25 for the first school and $16 for each additional school you’re applying to, however there are some instances where that fee is waived. Check the College Board’s CSS Profile website for more information.
Now that you know a little more about FAFSA and the CSS Profile, here are a few things you can do now to prepare your application.
Step 1: Check Which Form Your Colleges Require
FAFSA is required for all federal aid and most state programs. Therefore, you’ll fill this out regardless of where your applying. The CSS Profile is required by many private colleges for their institutional aid, but not every school will require it. To stay organized, make a list of the schools you’re applying to and note which forms they expect.
Some schools may also have their own financial aid forms. Make sure to consult each school’s website for their individual requirements. Trust me, you don’t want to miss anything! Stay on top of any state-specific forms for aid, as these can offer additional funding opportunities.
Step 2: Make Sure You Can Log In
Another difference between FAFSA and CSS Profile is that the CSS Profile uses the same account for both custodial parents and students. Whereas FAFSA requires both the parent and the student to have separate FAFSA IDs.
For both FAFSA and CSS Profile, ensure you have your log in set up and it is working!
Step 3: Get Organized with Your Documents
You’ll need key financial information ready when you sit down to apply. You can read my recent blog post about what documents you need to file. Once you know what documents you need, begin to gather them and put all of them in a folder (digital or paper). Then, everything is organized and you know exactly where it is. This prevents a stressful last minute scramble later.
Step 4: Mark Your Calendar
As you’re researching schools and what forms are required, make note of the deadlines, as they can vary by school. Some colleges have priority deadlines as early as November, and missing them can mean missing out on aid. Put those dates in your planner, master family calendar, or phone reminders today.
Filing financial aid forms can seem like a chore, but the potential payoff is worth the effort. A little planning now will set you up for less stress and more financial aid success later. By staying organized, paying attention to deadlines, and understanding what each form requires, you’ll increase your chances of securing financial aid to help cover your education costs.
More about Jodi and College Financial Aid Advisors
Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.