OK a question on the Fafsa

Parents Forum
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<p>Alll colleges require this form for the most part that I have seen. It also appears that some, mostly private schools, also require the CSS form in addition to the FAFSA.</p>

<p>The big difference seems to be that the CSS includes the family home as an asset whille FAFSA does not. Is that correct?</p>

<p>I have also seen some tight deadlines by some colleges requiring the filing of the FAFSA by Jan 15th for fall 2007 enrollment. Since I would not even have my w2's back by then I assume you just estimate the return and then there is some way to go update it later. Is that correct?</p>

<p>Man when I went to school in the 70's full tuition was $234 a semester. Life was way easier :)</p>

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<p>Yes, that is correct. When you initially file the FAFSA to meet those early deadlines, you will indicate "will file" as your status. This means you WILL file you taxes but have not yet done so. The numbers you use should be your best estimate based on your final pay stubs for the year, and last bank statements, etc. You should then complete your taxes as soon as you possibly can. This is not the year to wait until April 15 to do so. You will then go online, and amend your FAFSA to reflect your completed return...and you will change your filing status to whatever indicates that you have completed your taxes. NOW...the Profile, however, is a different matter. Keep a close watch on that one for deadlines. Some schools have priority deadlines for their EA/ED or early rolling applicants as early as November of the senior year in high school. Again, you will complete the Profile using your best estimates for the year. However, you cannot amend the Profile online (another CB Snafu, in my opinion...but that's another thread). Once you complete your taxes, you will print out a copy of your Profile, and write in the changes (we used red ink) and mail it to the finaid offices yourself. </p>

<p>You MUST amend all estimated FAFSA and Profile forms once your taxes are completed. Some schools will give you an estimated financial aid package, but it will not be finalized until your taxes are completed and the amended forms submitted. Use your very best estimates. We did that this year, but we were several thousand dollars low on our AGI. DD's estimated finaid grant at one school dropped over $4000 once our taxes were complete.</p>

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<p>Whatever you said is exactly right. I applied for aid using the Fafsa the second day it came out. My dad was unemployed so we had a pretty fair estimate of what our income was going to be. While it was not exact, my dad filled the forms after he got the W2 around three weeks later and we updated our application at that time. The process seemed to be beneficial because a couple months later I received enough in grants to pay for tuition, fees, books, and housing.</p>

<p>In terms of using the CSS Profile, my dad and I filled that out as well but because they used housing as an asset our aid was significantly lower from the schools we applied to that required both applications.</p>