FAFSA vs. CSS Profile. Or is it FAFSA and CSS Profile?
If you are considering any kind of financial aid for college you may have already come across the FAFSA - which stands for the Free Application for Federal Student Aid. The FAFSA has been around since the passage of the Higher Education Act in 1965, which established the federal government as the primary provider of financial aid to students in the country.
There’s a good chance you are less familiar with the CSS Profile, so let’s dig in so you can understand a bit more about these two forms as they undoubtedly could unlock thousands of dollars to you and your family in financial aid.
The Free Application for Federal Student Aid (FAFSA) is a form that is used to determine a student's eligibility for financial aid from the U.S. government, including grants (including Pell Grants), loans (subsidized and unsubsidized), and work-study funds. The FAFSA is required by most colleges and universities in order to be considered for federal financial aid. Note that the FAFSA is free to use, meaning there are no costs to access the form and complete it.
Have all your tax information ready to go as you plan to complete the FAFSA and CSS Profile.
The College Scholarship Service Profile (CSS Profile) is a form used by some colleges and universities to determine a student's eligibility for non-federal financial aid, such as institutional grants and scholarships. The CSS Profile is typically used by private colleges and universities, and some state colleges and universities. The CSS Profile is administered by the CollegeBoard. Yep, this is the same organization that oversees the SAT and AP courses. And the CSS Profile is not free. CollegeBoard charges $25 your first school and then a reduced fee for each additional recipient. This can add up depending on the number of schools to which you apply, if they use the CSS Profile. Not sure if any schools you are interested in use the CSS Profile? You can start here or visit the college’s financial aid website to see if they mention the CSS Profile is required.
Keep in mind that if a school uses the CSS Profile then you still need to complete a FAFSA in order to be considered for federal financial aid. So you should plan accordingly in order to complete both forms and maximize the amount of financial aid you may be eligible for.
The focus of the two forms and the questions are different and the FAFSA is going through a significant change for the 2024-25 school year. Note that both forms use tax information from the prior-prior-year. Meaning, if you are completing the FAFSA or CSS Profile for the 2024-25 academic year then you will use tax information from 2022.
The FAFSA primarily focuses on the student's and the student's family's financial information and asks questions about income, taxes, and assets. It also asks about the number of people in the household and the number of people in the household who are attending college. It also asks about the student's status as a dependent or independent student, which can affect the student's eligibility for financial aid. Note that this does not equate to whether the student is listed as dependent/independent for tax purposes. FAFSA and tax considerations are different. If the student's parents are divorced, the FAFSA will require information from the parent with whom the student lived the most during the past 12 months. This is known as the student's "custodial parent." If the student did not live with one parent more than the other, information should be provided for the parent who provided the most financial support during the past 12 months.
The CSS Profile, on the other hand, goes into more detail about the family's finances and assets, including questions about the family's business and farm assets, home equity, and non-custodial parent information. It also asks about the student's extracurricular activities, awards, and special circumstances that might affect the family's ability to pay for college. The CSS Profile will require information from both the custodial and non-custodial parent, regardless of whether the student is considered dependent or independent. This is significantly different from the FAFSA’s considerations (see above).
So there you go. Each form has its purpose and will determine your eligibility for various types of financial aid. With plenty of planning you’ll hopefully find the best way to unlock enough financial aid to make your choice of college a reality!
Be Boundless!
