One of the most critical steps in applying for federal and state financial aid
programs is filing the Free Application for Federal Student Aid (FAFSA). This
federal form uses a formula to determine a family's expected family
contribution (EFC), or the amount of money a family is expected to pay for
college costs. Schools use this information to determine what sources of aid
the family qualifies for, including grants, scholarships, work-study, and loan
programs.
Students and their families should send in the FAFSA as soon after January 1st
as possible. Families are encouraged to file the FAFSA early even if they do
not have all the necessary tax information required for the form. If necessary,
this information can be estimated. You will always have the opportunity to
change or update information later in the financial aid process when you
receive a copy of your Student Aid Report (SAR) from the federal processor.
There is no fee involved in filling out the FAFSA and all families are
encouraged to apply regardless of their family circumstances. You'll never know
what you are eligible for unless you go through the process. While the FAFSA
form may seem long and complicated to fill out, there are many resources
available to help answer your questions. You must reapply each school year that
you are hoping to receive financial aid by filling out a new FAFSA form. You
can obtain a copy of the FAFSA form online at
www.FAFSA.ed.gov,
through the high school guidance department, or the financial aid office at the
colleges where you are applying. You can obtain a copy of the Spanish FAFSA form online at
http://www.fafsa.ed.gov/FOTWWebApp/scomplete013.jsp
The CSS PROFILE
The CSS PROFILE (www.collegeboard.com)
is an alternative financial aid application developed and administered by the College
Scholarship Service (CSS). While the Free Application for Federal Student Aid (FAFSA) determines students
eligibility for federal financial aid programs, the PROFILE reports information to some private colleges and
universities for the purpose of awarding institutional (school) and private financial aid funds. The CSS PROFILE
application process also differs from the FAFSA in that it requires an application processing fee, while the FAFSA is completely free.
The CSS PROFILE is designed to provide schools with more information than the federal government provides in the FAFSA. Usually,
these schools have their own funds to award, and the CSS PROFILE process gives financial aid offices additional information they
need for the award process.
All government programs require a completed FAFSA. Many private schools require the CSS PROFILE, but some currently do not. So,
depending on which schools you are considering and what funds your are applying for, you need to complete just the FAFSA, just
the CSS PROFILE, or both.