Please explain CSS Profile

Paying for College
1

<p>Okay, I looked through the threads, and college board's site...and I've still got questions! Saw the CSS Profile goes "live" on 10/1. My kiddo is applying to schools w/either rolling admissions or final decision (as she's a potential musical theatre major, she won't hear her artistic admittance status until late in the game). Two of her schools (U Mich and Elon) use the CSS Profile. Does it need to be filled out right away, or can we sit down w/it and FAFSA in early January? </p>

<p>Is CSS Profile required? Looks like the schools use it for some of their own school-based awards, many of which have criterion she won't meet (live in X county, first-generation college student, etc). Our income is such that we'll be out of luck w/most need-based aid (but really, really in pain if the EFC calculators I've been playing with are correct). She's a National Merit Semifinalist and overall high stats kid, so we're hoping for some academic merit $$s...</p>

<p>But tell me more about CSS Profile -- what does it look like? What does it ask for? Is it much different than FAFSA? When is it best to complete it?</p>

2

<p>*Is CSS Profile required? *</p>

<p>If a school requires it for financial aid consideration, then it’s required. If you don’t want/need FA, then you don’t need to do it.</p>

<p>Our income is such that we’ll be out of luck w/most need-based aid (but really, really in pain if the EFC calculators I’ve been playing with are correct). She’s a National Merit Semifinalist and overall high stats kid, so we’re hoping for some academic merit $$s…</p>

<p>If you won’t qualify for much/any financial aid and you want merit money, then be sure to have your D apply to a few schools that give assured BIG NMF scholarships. </p>

<p>Does your D have any schools on her list that give assured big NMF scholarships?</p>

<p>Also, keep in mind that many schools do NOT meet need. Therefore you can often be expected to pay a lot more than your EFC.</p>

<p>Are you instate for UMich?</p>

<p>For merit to reduce your EFC, the merit scholarship has to be BIG. Otherwise it will just reduce your aid and not reduce your EFC.</p>

<p>For instance…</p>

<p>$55,000 School Cost of Attendance of a private U
$20,000 EFC
$35,000 “determined need”</p>

<p>Aid package…
$10,000 merit per year
$5,500 in student loans</p>

<h2>$10k grant</h2>

<p>$25,500 in FA package…$9500 gapped</p>

<p>So…If a school gives you $10k per year merit scholarship, then that will just go towards “need” and your $20k EFC stays the same. And, worse, you still have nearly a $10k gap in addition to the $20k EFC.</p>

<p>Here’s a better alternative…</p>

<p>$35,000 School Cost of Attendance of an out of state public or cheaper private
$20,000 EFC
$15,000 “determined need”</p>

<p>Aid package…
$20,000 merit per year (for instance, a free tuition scholarship)</p>

<h2>$5,500 in student loans</h2>

<p>$25,500 in FA package.</p>

<p>Since the school has a COA of $35k and your aid package is worth $25,500, then all you have to pay is $9500. You’ve cut your EFC in half and you have no gap. :)</p>

<p>Obviously, the last example also would work at a more expensive school if the merit scholarship is commensurately bigger.</p>

3

<p>I also wondered about this (I probably saw the same thread you did, mommafrog.) If you go to the CSS Profile website, there is a list on there of the schools that participate. We are in Texas and planning to stay in-state for college – there are only two in Texas that participate (Rice and TCU).</p>

4

<p>Typically, CSS schools have more aid to give, therefore they really want to determine who has need. FAFSA has some “holes” in it and CSS Profile seems to fill those holes (such as looking at NCP income, looking at equity, etc)</p>

<p>Conversely, usually FAFSA-only schools don’t have much aid to give. Often the only aid they can give is federal aid - which isn’t much. Some have merit scholarships that don’t consider need for high stats students.</p>

<p>Others may disagree with me, but it seems that CSS schools are the ones who are less likely to give a lot of merit scholarships. I know that Rice, USC, and some others do give some merit awards for stellar stats, but it seems that many/most CSS schools give mostly need-based aid.</p>

5

<p>My son applied SCEA one school and RD at other schools. I didn’t want to do the forms at different times (CSS in October, and FAFSA in Jan/Feb.) The SCEA school just said I would not get the FA answer in December. I did the forms in early February and met all the RD FA deadlines with actual 2009 data. If your taxes aren’t done, you can use estimated numbers but you’re able to line up the FAFSA numbers with the CSS Profile numbers. You just need to update the income and tax information when you complete your taxes.</p>

6

<p>Having some experience with Elon (a CSS Profile school). I found that the CSS Profile wants to know everything about everything but it gives the schools a more compleat understanding of your finances and assets than the absurd FAFSA / EFC combo. </p>

<p>I’m not sure about the other schools but Elon’s tuition is about 10k - 15k less than comparable schools so I think they want to be very careful about who gets what additional funds… All in all it felt a little invasive but at least everyone was on a level playing field when it came to be considered for FA. </p>

<p>My advice is to finish your taxes early then do the profile because at the end of the profile is an option to automatically compleat the FAFSA for you…</p>

7

<p>Is USC a CSS school or a FAFSA school or both
We are new to this</p>

8

<p>A school is either …</p>

<p>a FAFSA only school </p>

<p>or </p>

<p>a CSS **and **FAFSA school. So, when you hear that a school is a CSS school, that means FAFSA too. </p>

<p>USC (Calif) requires CSS and FAFSA if you want aid.</p>