CSS Profile Form - Check to See if it is Required at Your School

As I mentioned in yesterday's post (January 10, 2012) "FAFSA" Post, everyone needs to file a FAFSA to be considered for federal need-based financial aid programs. In addition to the FAFSA, some college bound students and their parents will need to file the CSS Profile Form. The CSS Profile Form is a product of The College Board and is required by some PRIVATE institutions. It is NOT free (the cost is $25 for the initial application and first school report and $16 for each additional report), thus you should only file this form if the college or university requires it. A complete list of private schools that require the CSS Profile is available on The College Board's website http://www.collegeboard.com under the "Pay for College" tab. If your private college requires it then this is the time of year that you should complete it and file it two weeks prior to your college's financial aid deadline. Many colleges have deadlines in early to mid-February, so now is a good time to think about completing this form.

You will need to "register" online at The College Board's site before completing the form. Similar to the FAFSA, the CSS Profile Form will collect information on parent and student income and assets, although in greater detail than the FAFSA. For example, home equity information and retirement account information will need to be included on the CSS Profile among other things.

Families will receive an acknowledgement form after the form is filed and payment received and colleges will receive the processed information electronically.

So there you have it, the FAFSA and CSS Profile Form (only if required) should be a focus of your financial aid planning efforts this month.

To see our newest magazine article on the FAFSA, please visit our Financial Aid $ense Article.

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Financial Aid Application - Need to Complete FAFSA