I just completed the FAFSA, as some of D22’s schools require it even for merit aid/scholarships.
Does anyone know of a similar CSS situation - is there a need to complete the CSS for merit aid?
Our EFC was higher than COAs, and retirement plan funds, excluded from FAFSA but I understand included in the CSS, would almost certainly not make the results any better.
Any point in spending $100+?
@RichInPitt , I was working on these 2 documents today as well. I think you should ask your question to the schools asking for the CSS profile. It’s my understanding the the profile is needed for institutional aid at those schools that ask for it. So if you are not applying for financial aid, you may not need to do it at all.
I would just confirm this with the schools wanting it just to be sure. Because some schools only give institutional aid/merit to those with need. But file the FAFSA, as that is probably mandatory to be considered for merit aid as well. Confusing, isn’t it?
Not to sound like a broken record, but… a merit award that considers need is not true merit aid.
And probably not any worse. Yes, Profile does ask for qualified retirement account balances, but while debatable, it’s highly unlikely that these assets will decrease any need-based aid awarded.
I’ve heard that at some colleges if you didn’t apply for FA originally (even if you won’t qualify), then they won’t give you FA later if your circumstances change in later semesters and you need it. Personally, I’d want to check out the policies of the schools you are looking at.
Retirement funds are excluded from CSS profile schools as long as they are in actual retirement funds like 401k and IRAs. Even if they ask for it, they don’t include it in the calculations.
However both FAFSA and CSS Profile schools add back into income any pretax money you diverted to retirement in the year being looked at (prior prior).
Yes do check. For U.S. residents and permanent residents, there are a small handful of colleges that restrict applying for their institutional aid in subsequent years…but it’s a very small number.
Plus, these schools cannot prohibit you from filing a FAFSA in subsequent years for the Direct Loan, or if you become eligible for a Pell Grant.
Now….for international students, there are a LOT of schools that will not allow one to apply for their need based aid in subsequent years if they don’t apply as incoming freshman.
@RichInPitt It the CSS is for CMU they LOVE to see if you can pay 100%. Trust me you’ll get a big fat Zero merit aid once they know.
@RichInPitt If you are interested in non-need merit aid given out, look at each school’s common data set and you will see how many students received it and the average amount.