<p>For ED, I have to turn in the CSS profile, 2005/06 tax returns, and the application for the school. Why is the FAFSA due after the desicion. Does that mean the fafsa has nothing to do with my package??? Is the FAFSA only needed for the school I am going to??? Do i need to send the CSS profile to every school???</p>
<p>The FAFSA is due after the decision because it CANNOT be done until January 1 at the earliest. Even then, you will not have your taxes completed for 2007 so you will have to complete it as close to Jan 1 2008 as possible and amend ASAP when your taxes are complete (do this as close as possible to Feb 1...this is NOT the year to wait until April 15 to file your taxes). Your finaid award will be an estimated award and will not be finalized until you finalize and update your forms with 2007 tax information from your completed taxes. The FAFSA is required by virtually ALL colleges for the consideration of financial aid. The Profile is not required by every school...I believe about 300 schools or so require it. You can check each school's website to see if they require the Profile. </p>
<p>Re: early filing of the Profile for ED schools...yes, they require this (if they require the Profile). This gives the school the ability to estimate their institutional aid award for you. </p>
<p>Your post makes me wonder if financial aid is a high consideration for you. If so, you may want to reconsider applying ED to any school. ED is a binding acceptance, and you would not be able to compare finaid offers from other places.</p>
<p>Someone...correct me if I'm wrong....I believe that until your 2007 taxes are completed, your finaid award will be an estimate. It will be finalized when your taxes are completed.</p>
<p>Wow, then what is the point RD if your financial aid will still only be an estimate???? Sorry, I dont know much about financial aid since I am the first to attempt college in my family. So i will have an estimate financial aid package if I am accepted and yess money is an issue.</p>
<p>Do not appy ED if finances are a concern because you can't compare financial aid packages, and colleges may choose to give you higher loans and/or lower financial aid than you would wish to accept. </p>
<p>Check CC's archives for lots of advice on this subject. Contrary to what you'd think by reading CC, finances are a concern for most families, so most students can't afford to apply ED. They select colleges to apply to and to attend based a great deal on their family's finances.</p>
<p>Typically when people apply for financial aid and aren't applying ED or EA, they file their taxes in early Jan. of the year that they will start college, and the paperwork that the college gets is a copy of their actual tax return. Consequently, the financical aid package that they get is the actual package, not an estimate.</p>
<p>I cannot speak for ED schools, but one of my daughters EA acceptances had finaid that was adjusted DOWN by $6000 (university grant), when her finaid award was finalized. Our AGI went up by $3000. That was the only difference between our estimated FAFSA/Profile and the actual numbers on our tax returns. When we did the estimates, we actually estimated on the high side. I guess we didn't estimate high enough. The school REFUSED to speak to DD about the award. She is going elsewhere.</p>
<p>Thankkss. =)</p>