I did the CSS profile a month ago for all of the schools I applied to that needed it. This was before filing taxes for 2015.
And now I regret this because the schools due after taxes were filed still have 2014 info. Is there a way to update this stuff like I did for corrections for FAFSA or is it not even required?
Any help would be appreciated. Thanks
I think every school has their own process for that.
I’m not too familiar with CSS profile, but I think some schools want you to send in completed tax returns and other income forms with IDOC.
Some might accept the FAFSA updated with tax return info using the IRS data retrieval tool.
You will need to look on the financial aid page of each school and see what they require.
Yes, they will need your 2015 tax return info to put together a financial aid package.
Unfortunately, the CSS Profile doesn’t have an easy way to make corrections like the FAFSA. To correct, you must contact the school directly. But I think this is for a drastic correction not correcting estimates. I don’t think the schools expected your numbers to be absolutely correct. Most have a very early date (such as Feb 1st). I believe they wanted best estimates. You’ll then follow up with the requested documents through IDOC and that’s when they will see the actual numbers.
I don’t remember updating the profile when my kids applied to college. (And since, then due dates are later and easier to get taxes done first)
Contact each school and ask how they would like the Profile to be updated.
We make the updates in pen and fax it in.
I copied and pasted just the sections of Profile with changes into a Word doc. I highlighted the boxes with changes in yellow. I left the original amount in place, using “strikethrough” on it and then added “actual $XXX.”
Oh! And I copied and pasted the first section where it has student name, number, etc.
When done I saved as pdf. I printed and mailed snail mail to the Profile colleges. I had copied and pasted entire sections, not just specific lines with changes, so I wanted the yellow highlighting to make it easy for the FinAid office. That’s why I chose to mail rather than fax. I talked with at least one college personally and this was good with them. They specifically said to only print the parts with changes.
My changes were not huge but they were all in our favor for FinAid purposes so I wanted the updated data in there.
I’m pretty sure both college instructions and Profile instructions say that if you use estimates, to update when your taxes are final. Of course I wouldn’t bother them with nickle and dime stuff.
We had some variation too but instead of correcting Profile we just sent out tax forms in, usually via idoc but sometimes right to the school. That’s what they actually used.