My parents are divorced so I needed to have each of my parents fill out their own separate CSS profiles. My mom filled it out the first one, as my custodial parent, and my dad filled out a second, as my noncustodial parent. HOWEVER, on my mom’s application under the section for “Parent Assets,” it kept asking me how much my “parents” have in assets, so my mom and I filled it out including my dad’s assets (noncustodial parents) assets as well. My mom makes less than $20,000 a year, but it is a different story for my dad. He makes over $100,000 a year and has over $100,000 in his savings account-- my mom only has $1000. Additionally, my dad owns 60% of his small business that made over 6 million dollars last year.
REMEMBER: I put all of this information, of my dad’s, in my mom’s css profile. In addition, in my dad’s css profile, which I have yet to submit, it also contains this information on his savings and assets from his business.
I already submitted my mom’s css profile.
I don’t know what to do or how to fix this. I reached out to the college board, and they said I need to reach out to each school directly. I feel like this is a huge mistake to fix. Like the entire section was wrong. Please help. ugh
You probably will have to provide manual updates to each school (faxed or mailed). Be sure you have some schools that are affordable without need based aid or are FAFSA only and are affordable — your dad’s business interest could keep you from getting much need based aid.
I agree with others that you are going to need to contact each school.
However, I see another issue that you also need to think about. For schools that consider your father’s finances, the fact that he “owns 60% of his small business that made over 6 million dollars last year” could be a big issue. It might stop you from getting any need based aid at any school that considers his income.
You need to find out how much your father is willing to contribute to your education, and figure out what your budget is.
Financial aid for the children of small business owners is in general a big problem in the US.
What is your current list and have you run the NPC on each schools’ website.
Just for a guesstimate, you should run the Net Price Calculators using your DAD’S info on the schools’ that require NCP’s info. Running it with your mom’s info will give you ridiculously wrong results.
What is your major and career goal?
As a likely NMF, which schools did you apply to as financial safeties where you’d get significant merit?
@mom2collegekids I worked to fill out the css profile with both my mom and dad so I had accurate info on both sides of the finances. It was confusing in the way that I worded it, but my dad helped me fill out the part for his finances
@mom2collegekids I was named a NMSF and put Fordham as my top school- the school that I will 95% attend. My list has definitely changed a lot to ensure that I will be able to afford all of them
@mom2collegekids I actually did apply to IU Kelley and already got my direct acceptance to Kelley as well as $15,000 per year as an out of state student! I’m definitely considering it!
also correction: my dad’s business took in $6 mill dollars but also paid out like $4.5 mill LOL soooo BIG DIFFERENCE. I was confused in my wording. Hopefully my dad’s business does not too negatively affect my financial aid. Anyways, it is such a pain that I need to reach out to each school to fix. I appreciate how the FAFSA allows you to edit after submitting. I suppose I should’ve been more careful. It was just confusing because it kept asking how much my “parents” had, instead of how much my “mom” or “Kirsten” had, like it said in the other sections. well
@mom2collegekids I’m not completely sure on the exact numbers of it all, but I made it out to seem like his business was doing a lot better than it actually is. but yes, in theory- his business profited about $1.5 million dollars last year, and he owns 60%, but he has employees as well and other things. I can tell you for sure that he did not take home $900,000 last year. only like $200,000 and he has 4 other kids beside me.
Is this response to my query about child support or spousal support? One of those is not considered taxable income. So it would not appear on your mom’s taxes at all. But BOTH are supposed to be reported on the FAFSA form. Did you include them on your FAFSA?
@thumper1 It was in response to both child and spousal support. I’m only a teenager so I don’t know a lot about my parent’s finances, but I do know 100% that when my mom and I were filling out her FAFSA and I asked about child support, she said that she did not receive in. I put $0 down.
Please make sure your information is accurate. It is very possible that your mom doesn’t receive spousal or child support. BUT with a former spouse earning what you say your dad earns, this just doesn’t seem likely,
