Thinking about scholarships and financial aid? Here’s a primer with first steps…
There are two financial aid forms that you’ll need to complete:
The CSS Profile, short for the College Scholarship Service Profile, is an additional financial aid application used by many private colleges and universities in the United States. Unlike the FAFSA, which is administered by the federal government, the CSS Profile is managed by the College Board. Each year, the CSS Profile unlocks over $10 billion in non-federal aid for students. The CSS Profile provides a more detailed and comprehensive view of a student’s financial situation, allowing colleges to distribute their institutional aid effectively.
The main purpose of the CSS Profile is to assess a student’s eligibility for non-federal financial aid, such as scholarships, grants, and institutional aid. It helps colleges and universities determine how much financial assistance a student may need beyond what is offered through federal aid programs.
HERE’S A LINK TO THE FORM AND A GUIDE: www.cssprofile.collegeboard.org
How Is the CSS Profile Different From FAFSA?
Although CSS is often compared to FAFSA, here are the key differences between the two:
- FAFSA is required by most universities, whereas CSS is only required by certain private universities and some public universities. Check with the schools you’re interested in to see if they require you to fill one out.
- FAFSA is free, but completing a CSS profile costs $25 for one school submission, and $16 for each additional school.
- FAFSA considers a student’s need for federal aid, whereas CSS considers outside scholarship opportunities and the college’s own institutional aid opportunities.
- CSS takes a more detailed look at your household and business financials.
The CSS Profile
- Student and parent’s SSN or SIN numbers, if applicable
- Federal income tax return(s)
- W-2 forms and other record of money earned in the past two tax years
- Current bank statements
- Current mortgage information
- Records of savings, stocks, bonds, trusts, and other investments
- The noncustodial parent’s email address, if applicable