Most college bound students have completed the Free Application for Federal Student Aid (FAFSA) – if you haven’t completed it yet, it is time to do so.
There may be additional follow-up items to complete once the FAFSA is submitted.
Missing the additional items or deadlines might result in losing valuable financial assistance. To ensure you’re on the right path, review each college’s website for all their financial aid requirements. Each school has its own deadlines, conditions, and may require additional applications.
Although the FAFSA is commonly used, many private colleges like Stanford and some public universities, such as the University of Michigan, also require the College Scholarship Service Profile (CSS Profile). The CSS Profile is an online application that students use to apply for non-federal financial support from colleges and scholarship programs. Created and overseen by the College Board, it is a requirement for securing financial aid at many educational institutions.
Unlike the FAFSA, the CSS Profile isn’t free—there’s a $25 fee for the first school and $16 for each additional school report. To determine if a school requires the CSS Profile, refer to The College Board’s list of participating institutions. While the FAFSA is used to determine what federal financial need will be offered the CSS Profile is used to help determine financial need and what aid might be offered by the institution. The deadline to submit the CSS Profile to the University of Michigan is March 31st.
If your family has two households, some colleges may require a separate CSS Profile from the noncustodial parent. The noncustodial parent is typically the parent who the student didn’t live with most of the time in the past year. In this situation, the noncustodial parent must create a CSS profile account to submit their information and sign the application.
If contacting the noncustodial parent isn’t feasible, you can submit a CSS Profile Waiver Request for the Noncustodial Parent. Be sure to follow the guidelines and provide any required documentation.
Colleges may request additional financial documents, such as tax returns, W-2s, or 1099 forms, to verify the information on the FAFSA or CSS Profile. Some schools use the Institutional Documentation Service (IDOC) by the College Board to streamline this process.
Every college your student applies to will have an online portal for applicants. It’s essential to log in and check these portals regularly, as they have important updates on financial aid requirements. If your FAFSA is chosen for verification, a process to ensure the information submitted accurately reflects your financial situation, you will need to provide extra documentation to confirm income or identity.
Colleges are required to verify at least 30% of all FAFSAs, so don’t be alarmed if you are chosen. If you do miss a deadline to submit further information it may result in losing financial aid.
Once the application and any requested documents are submitted it will be utilized to determine your financial aid offer. Each school that you submit to will provide an award letter to you – you may not receive all award letters until as late as April. The college decision deadline to choose the school you plan to attend is May 1st.
Take advantage of Michigan College Planning’s College Planning workshops to learn more about how to reduce stress, save time and potentially money during the college planning process. Visit www.michigancollegeplanning.com or https://www.tcaps.net/programs/leap/for locations and dates — or request a recording. The workshops are informative and include steps you can take right now to ensure you understand the cost of attendance and how you can afford college. If you are unable to attend a workshop, feel free to call Michigan College Planning with your questions.