We submitted a CSS profile for an ED application - but since then my financial situation has changed drastically. I will be submitting all financial aid as a single parent. I really need to submit a new profile or make significant changes. Does anyone have any experience with this?
Depending on the school it may not matter. Since your separation/divorce is recent, the schools may still look at you as a married couple.
If the CSS profile school uses a non-custodial profile or their own form to gather income/assets from the non custodial parent, it wont matter, because the school will still use both incomes. SInce there seems to be a lot of uncertainity in your financial situation, perhaps, you should not have your child do ED. find out if you can switch to RD
Did your student already get accepted ED? Did you accept that ED offer of admission? Did you withdraw all other applications?
If NOT, then contact the college and switch to regular decision…asap.
If yes, read the reply above. All of this may not matter if this Profile School requires the financial information from BOTH parents. It would be the same regardless of your marital status…right?
You can complete the FAFSA as divorced if that is now the case, and perhaps you will be eligible for a portion of the Pell Grant.
If your divorce is not final, I would suggest that you discuss with your lawyer including college financing in your divorce settlement.
In another thread, you mentioned that you had applied for free or reduced lunch. We’re you hoping to qualify for,the simplified needs test whereby your assets would not be considered? Or were you hoping to qualify for an auto $0 EFC?
Contact the ED school to find out how they deal with changes like the one you are describing (sort of) here. The school will tell you what to do.