Can someone please clarify the process (once again)?
So, I apply (ED/EA, etc.) to colleges.
Colleges let me know their decision (rejection or acceptance).
My parents fill out FAFSA in Jan 2016.
My question is:
Do the colleges that have given me admission automatically, get a copy of the FAFSA, review and let me know their financial package (as applicable)?
OR
Do I need to send something to the colleges that have given me admission for them to evaluate financial aid?
If you put the college codes on the FAFSA, they will get the report sometime in late Jan/Feb. Most schools that give significant need based aid, especially for ED, also require the CSS and that’s filled in during the ED process.
Don’t assume that FAFSA isn’t required for merit. Both my daughters’ schools do ‘require’ it for merit aid, and while I might be able to fight filing it, it isn’t worth the fight and it would definitely hold up the merit awards. Just do it or plan on doing it. If your school doesn’t require it for merit aid, they are still going to need information like SSN to complete the tax forms.
CSS is another financial aid application used by many private schools and a few publics that give high need based aid amounts. It’s a much more detailed questionnaire about income and assets.
If you are applying ED or EA to a college…look on their financial aid section of their website…and see what the requirements and DEADLINES are for EA or ED applicants. Then make sure you submit them on time.
Some schools for ED will require either the CSS Profile or their own school form so they can give you an estimated financial aid award with your admission (should you be admitted). You would still need to do the fafsa after January 1.
For EA schools, either they will require the profile or their own form…and will give you an estimate of aid with your early acceptance OR the school will require their financial aid application materials to,be submitted later, and will send your financial aid award at a later date.
In any event, the school financial aid section will tell you exactly what to submit and when. Look and read carefully for each school…and don’t miss any deadlines or submissions.
You should check the requirement of each school you are going to apply. They will not notify you proactively what you need but you can find on their websites for the required form and deadline. CSS profile can be submitted any time with estimated income and current assets. FAFSA can be submitted after Jan 1 with estimated or previous year income and current asset. However, you will need to update and verify it after filing tax return(s). You should not wait for the tax return before submitting FAFSA.
@thumper1 I mean anytime with the application without waiting till next year. It is actually available on or after Oct 1 but some schools has a deadline within a month after that.