This is second hand from my parents who are filling the CSS out so apologies if I have missed anything obvious. The CSS asks for exact numbers from this year’s tax returns. However, most of the CSS deadlines are before we receive these numbers, and the forms cannot be edited once they are submitted. Is there something obvious that we are missing? Thank you!
Not a CSS expert, but the general consensus seems to state that you use your best estimates, and then the college can view the correct amounts as you will be required to submit the tax transcripts through IDOC or to the school directly depending on what they require. The school will then make aid adjustments if necessary. Can someone correct me if I am wrong?
That’s right. At this point you use the best estimates for 2014 income you can come up with and actual asset information. Some schools will update the income info based on the final fafsa submitted, some require tax documents later either through IDOC or some other process, some want pen and ink changes on paper profiles. You need to know what each school’s update process is. Generally the schools will let you know what they want and how they want it or it will be on their finaid web pages.
Before doing the profile, you and your parents should view the interactive presentation here:
https://student.collegeboard.org/css-financial-aid-profile
Particularly slide 4 of How to apply and financial documents needed mentions estimating.
Thank you @annoyingdad and @kgos16