Updating a fafsa

25-Apr-2020 09:08 by 2 Comments

Updating a fafsa

Is your family using 529 savings accounts to help pay for college?

Information will also be available on the college or university’s Financial Aid Office webpage.

A second form, the CSS/Financial Aid PROFILE, is used by almost 400 colleges, universities, professional schools and scholarship programs to allocate non-federal student aid.

Historically, the FAFSA was available on January 1 each year and required students and families to estimate tax information from the previous calendar year.

Gather all documents, personal and financial, and prepare in advance by using the FAFSA on the Web Worksheet.

The CSS/PROFILE must be completed every year as well.

In addition, the CSS collects estimates of the current year’s income for both students and parents and projected income for the following year as well, and some colleges may ask similar questions on their own financial aid forms.

The deadline for submitting FAFSA and CSS forms depends on each individual college — your student’s school may have a “priority filing” deadline.

The same will be true for upperclassmen filing a FAFSA in order to renew their financial aid awards.

The earlier availability of the FAFSA means that colleges can offer a financial aid award at the same time that they offer admission to an applicant.

Once your student has logged in to their account with their username and password, they can download a printable application worksheet that will help them gather all the pertinent information for renewal.

For the schools that require the CSS/PROFILE, your student’s eligibility for merit aid is directly tied to this form.

The CSS/PROFILE is used by hundreds of private colleges and some public flagship universities to determine a student’s eligibility for the institution’s own grants and scholarships (which may be need-based, merit aid or a combination).

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