by our College Data Analytics TeamFilling out the CSS Profile financial aid application is like bathing a porcupine: it will be painful and filled with sticking points, but it’s a necessary task that has to be done.
If your student intends to apply to any of the nearly 300 colleges and universities that require the CSS Profile, you’ll need to complete this form. It may take two hours or more, requiring you to gather various financial records, estimate future income, and provide more detailed information than the FAFSA. However, it’s the only way to access institutional aid from these schools.
The CSS Profile asks for extensive information, including your spending habits, the timing of major purchases like cars, and your financial expectations for the upcoming year. While this may seem intrusive, it’s designed to create a comprehensive financial picture to distribute aid appropriately.
Some applicants have attempted to hide income and assets to maximize aid, leading to more detailed questions. Financial aid officers are aware of these tactics and have structured the CSS Profile to identify them. This ensures that aid goes to the most deserving students.
Here are some common issues you might encounter:
The CSS Profile may be due as early as November 1 for Early Action applicants, requiring you to estimate your yearly income and taxes. This can be challenging for business owners or those with variable income. Do your best to provide accurate estimates and update the forms as soon as you have the actual numbers.
If the student does not live with both parents or the parents are not married, start with the “custodial parent,” defined as the parent with whom the student lives most of the time. Include income from parents with partial custody and custodial step-parents. If your student has no contact with a non-custodial parent, you may apply for a waiver.
The CSS Profile asks about everyone’s assets. If an account is listed in a parent’s name with a sibling as a beneficiary, the account should be listed only under the parent’s assets.
You should not list a small business with fewer than 100 employees. However, rental property is not considered a small business by the CSS Profile, so you must include the values of rental properties.
The CSS Profile costs $9 initially, plus $16 for each school you apply to. This means you’ll spend money to apply for need-based financial aid.
Fortunately, the College Board offers fee waivers for up to eight applications. If you’re not eligible for this program, you can still ask individual schools if they will waive the fee. Some will do it instantly, others may provide a waiver code, and some may refuse, but it never hurts to ask.
While the CSS Profile may feel invasive, honesty is crucial. Schools consider integrity and transparency when allocating aid and deciding on admissions. Approach this process openly to ensure your student receives the aid they deserve.
Gather all necessary financial documents and set aside a dedicated time to complete the application. Having everything ready will make the process smoother. You’ll need:
If you are separated or divorced, the custodial parent (the one the student has lived with the most in the past year) is responsible for providing financial documents and answering questions. This is the same standard as the FAFSA. If the student has lived with each parent equally, the custodial parent can be considered the one who provides the most financial support.
Just like the FAFSA, the CSS Profile needs to be renewed every year to maintain your student’s financial aid. Thankfully, once you’ve filled it out once, some information will auto-fill, making next year’s process easier.
Has your child chosen a college that is a good financial fit for them? Find out with College Factual’s free matching tools.
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