Both of these help you pay for college, but they are different types of aid — the FAFSA determines your eligibility for federal aid, while the CSS Profile is a private survey that some schools use to determine institutional aid. In some cases, you can apply and qualify for both the FAFSA and the CSS Profile.
What is the difference between Fafsa and CSS?
The major difference is that the FAFSA® provides federal grants, loans, and other types of government assistance, and the CSS Profile is an application that universities use to gauge how much non-federal financial aid you need.
Do you need both Fafsa and CSS?
The CSS Profile requires tax documents from the same year as the Free Application for Federal Student Aid, or FAFSA, which is required for students interested in receiving federal financial aid. Students who have already completed the FAFSA can use much of the same documentation for the CSS Profile.
Does CSS give more money than fafsa?
Used by nearly 400 institutions throughout the U.S., the CSS Profile is much more extensive than the FAFSA and can qualify students for enormous nonfederal financial aid packages funded by their college.
Does CSS Profile affect fafsa?
The CSS Profile usually wants more information about your family’s finances than the FAFSA. … This means that submitting the CSS Profile does not impact your federal financial aid, including the expected family contribution (the estimated amount your family can afford to contribute toward education costs).
Is CSS first-come first serve?
Just like the FAFSA, the CSS PROFILE can be filled out as early as October 1, but different schools enact different exact deadlines. … Also, much like the FAFSA, funds are given on a first-come, first-serve basis so the earlier you apply, the better. What is the advantage of CSS PROFILE?
Who is eligible for CSS profile?
The CSS Profile Fee Waiver
You qualified for an SAT fee waiver. Your family income is less than $45,000. You are an orphan or ward of the court under 24 years old.
Does CSS check bank accounts?
Information the CSS Profile Asks For
Prospective student who would like to apply for a CSS Profile should have their most recent W-2 forms, tax returns, untaxed income records, small-business information, mortgage statements, and current bank statements.
Does the Fafsa check your bank accounts?
FAFSA doesn’t check anything, because it’s a form. However, the form does require you to complete some information about your assets, including checking and savings accounts. … If your FAFSA is picked for verification, you may have to provide documentation proving the amounts you entered for bank accounts was accurate.
Is CSS profile only for private schools?
Unlike the more widely used Free Application for Federal Student Aid (or FAFSA), which is required for any kind of federal aid, as well as for assistance from most states and colleges, the CSS Profile is just for private, non-federal aid.
What assets are reported on CSS profile?
Retirement Plans and the CSS Profile
Unlike on the FAFSA application, the value of retirement plans are included on the CSS Profile. According to the Profile, student and parent retirement plans (IRA, Keogh, 401k, 403b, etc.) are reported as assets for the respective owners.
Is CSS profile required for merit scholarships?
Some schools require the CSS Profile along with the FAFSA. The CSS Profile is used to determine the amount of institutional aid granted, rather than federal aid. Be sure to check if your student’s colleges expect this additional form.
Do I need to file CSS profile every year?
A: Some colleges and universities require families to submit the Profile every year. Other schools only require the application for the student’s freshman year. Check with each college or university for requirements.
Do I have to pay for CSS profile?
A. The fee for the initial CSS Profile and one college or program report is $25. Additional reports are $16. CSS Profile fee waivers cover all application and reporting fees.
Do all colleges use CSS?
When it comes to financial aid forms, there tends to be much more confusion surrounding the CSS Profile than the FAFSA. First of all, the CSS Profile is longer. But not only that, not all schools require the CSS Profile.
How long does it take for CSS Profile to process?
Completion of the CSS Profile is not as quick as the FAFSA so set aside a block of time to do it. The College Board says you will need anywhere from 45 minutes to 2 hours to complete it.