<p>I'm hoping someone here has a good answer to this one. DD goes to a college that required the FAFSA and the Profile for incoming freshmen applicants. However, for renewal, they only require the FAFSA. Her finaid awards at the schools using Profile and FAFSA were about $3000 less than at schools using just the FAFSA. So...for renewal finaid, does this mean that the school will just award less institutional aid, or does it mean that the school will look only at the FAFSA criteria and award more in aid? It just seems odd that the info on the Profile was important in year one, but not in subsequent years.</p>
<p>It has been my experience (doing this for senior year) that we only file the profile once, freshman year. For each subsequent year, we did have to file the fafsa and submit tax information and a couple of other forms using the IDOC process. Hope this helps.</p>
<p>We didn't have to do anything but the FAFSA....</p>
<p>S's school wants the Profile every year. It does seem weird to want it one year, and not others, since the information captured by it might be different from one year to the next.</p>
<p>Garland, I think it's weird because the information on the two forms is a bit different. For example...our home equity is actually DOWN from last year due to some HE loans we have used this year (two kids in college...this was very anticipated). But then...the FAFSA doesn't even consider home equity so maybe we are better off altogether. DS's school also didn't require the Profile for renewal...but they were clear that you could file it "if you financial situation changes" (like this year when our second kid joined the college ranks). But DD's school simply does not use it for upperclass returning students. I'm just wondering how this will impact her finaid?</p>
<p>Hi Thumper, </p>
<p>Does the school require any supplemental forms? Although we do not have to file a profile after freshman year, we do have to fill out the school's supplemental form that have to be filed each year does address home equity and other assets.</p>
<p>Sybbie...nothing is required for renewal except the FAFSA (no tax returns, no supplemental form, nada). I guess what I don't understand is how they consider some information one year, and not for subsequent years...it's odd.</p>