<p>I need to apply for FAFSA by Feb 2nd for the schools I've applied too. But I have a few questions.
1. Which taxes or income do my parents report? 2011 or 2012? Or is it an estimate?
2. What other documents/information do my parents need in order to fill out the application?
3. What's the difference between FAFSA and individual university financial aid?
4. What's CSS?</p>
<p>Sorry for so many questions :(</p>
<ol>
<li><p>your parents report their (and your) 2012 income and taxes. If you don’t have the W-2’s and other necessary forms by then, estimate from 2011 if you think they are close, and then ammend the FAFSA as soon as you have the 2012 information.</p></li>
<li><p>they need their most recent (to filling out the form) bank statement, your driver’s license or state id number, they need to be able to affirm that you have registered for the draft if you are a male over 18, and any dividend/interest statements if they or you have investment income.</p></li>
<li><p>FAFSA is the form needed to determine if you qualify for federal grants and/or loans. Many schools use the data from the FAFSA to determine whether or not you qualify for need based financial aid from thier school, since they get the income report from the FAFSA. Some schools also have their own financial aid forms that they will require you to fill out. FAFSA does not GIVE money - it only determines eligibility. The school financial aid department then helps you to get the grant and/or fill out loan applications for the federal direct loans.</p></li>
<li><p>the CSS is a different form that looks at some financial information that the FAFSA does not gather. Most public schools do not require it. Many private colleges do. Check with the financial aid offices at the schools you are looking to get aid from to see if the CSS profile is required.</p></li>
</ol>
<p>For more information, go the FAFSA.gov and read the information there. BE CAREFUL to go to the .gov site, as there are sites with similar names that will ask you to pay. The FAFSA is a free application.</p>
<p>1) The income to be reported on FAFSA is end of year 2012. It can be an estimate but you will have to finalize soon thereafter.<br>
2) For FAFSA the taxes and a list of assets (including bank accounts) is good.<br>
3) FAFSA is a form used to verify meeting the requirements for Federal FA. Most universities only use it for federal aid (Pell Grant, Stafford Loans) but some use it for university aid as well.
4) CSS (Profile) is a more exhaustive FA form that makes you list everything so the school has a more detailed look at your finances. Schools that use the Profile tend to provide more aid and use this more detailed look to decide amounts to give.</p>
<p>xposted with KKmama</p>
<p>Thank you! Regarding CSS, do I have to apply for that before or after the school accepts me? Only two of my schools require it.</p>
<p>As is usual in these cases, it depends. You need to ask the school that.</p>
<p>You would submit the CSS Profile of required using your school deadlines for submission. DO NOT wait until you are accepted. You want your financial aid award to come
WITH or shortly after your acceptance. Check the DEADLINE dates for each college for all required financial aid submissions…then plan to get them done as soon as you can.</p>