This will be my first time filling out a FAFSA and the CSS forms. I’m assuming that I need our tax returns, our mortgage, our home valuation, all of our retirement account information, our bank accounts, our credit cards, and information about the kid’s 529. We don’t have stocks other than the 529, and we don’t have additional property.
But I’m sure that I’m missing some information. What other documents or information should I gather ahead of time to make filling out the FAFSA and CSS as painless as possible?
The FAFSA is a lot less complicated as you won’t need mortgage or valuation amounts for your primary residence.
CSS can ask for a lot more info.
You’d also need the bank account information for the student and tax/income information if he/she doesn’t file taxes (or didn’t for 2017).
You won’t need any credit card information, unless you’re looking at statements in order to add up medical expenses that weren’t reimbursed by insurance.
The FAFSA also doesn’t ask for balances in your retirement accounts.
If you are filling out the 2019-2020 FAFSA, you have until October 1 to collect everything because that’s when it will be available. You will need 2017 income tax and income information…tax form for that year.
The CSS Profile DOES ask for more detailed information. You might get asked retirement account balances. You will be asked for home value and remaining mortgage on your primary residence.
Oh, you will need W2s too, as the FAFSA makes you break out each parents income, and to enter any 401k contributions.
The FAFSA site summarizes it as such (https://fafsa.ed.gov/help.htm):
To complete the Free Application for Federal Student Aid (FAFSA), you will need:
Your Social Security Number
Your Alien Registration Number (if you are not a U.S. citizen)
Your federal income tax returns, W-2s, and other records of money earned. (Note: You may be able to transfer your federal tax return information into your FAFSA using the IRS Data Retrieval Tool.)
Bank statements and records of investments (if applicable)
Records of untaxed income (if applicable)
An FSA ID to sign electronically.
That’s a lot less paperwork than I thought I would have to gather, @mom2adancer
Thank you so much!