Born just last week, the ever-charming CSS Profile for 2015-16 is online now!
Most colleges are satisfied with the financial information they get from the FAFSA form, which is not available until January 1st of each year. But over 250 colleges and universities, the ones with big endowments, are looking for the best students they can get and they will use their funds to make it possible (or desirable) for those students to attend their institutions. The College Board administrates the CSS Profile financial aid questionaire on behalf of these schools and has a list of them at their website, https://student.collegeboard.org/css-financial-aid-profile . So whether you are applying for the first time to one of the colleges that require this form, or whether you are applying for the next school year of college financial aid, this is the time to start getting familiar with this complex form. Current high school seniors will need to start now to fill out the CSS Profile if they are going for any kind of Early Decision or Early Action. Others may have until April 15th of next year.
It’s important to understand that while the FAFSA form asks the same questions of every applicant, the CSS Profile is customizable by each participating college. Each is able to ask different specific questions to elicit the kind of detail their financial aid administrators need to dispense aid in the best way for their institution’s enrollment goals. The College Board charges a fee for each CSS Profile application, while the Federal government’s FAFSA form is free. Watch my video about the CSS Profile to get in the right mindset for this invasive, yet potentially valuable financial exercise.
Just when you thought getting college financial aid information was going to be a snap, it isn’t.
Getting that piece of information about grants in order to use my “Bucket Method” of comparing college affordability is, admittedly, a bit of a challenge. The unlovely Net Price Calculators now installed by law on the websites of most every college in the U.S. are, in some cases, a display of resistance and neglect by the host entities. On one hand, I am somewhat heartened by the efforts of the College Board to standardize the format of data entry and display of this online college financial aid tool. On the other hand, I am saddened by the efforts by other third party NPC providers to use clever marketing to hoodwink prospective students into making poor choices and falling headlong into giant craters of debt. Watch this video and become your own financial aid “detective”.
The CSS Profile. Hard to live with, and harder still to live without.
Having just dropped off our daughter at her wonderful out-of-state college reminds me that soon it will be time again to fill out the dreaded CSS Profile form brought to us by the College Board folks. Without this form, about 250 mostly private colleges and universities would have a much harder time deciding how to use their endowments to attract the best students. And without this form, many of those students wouldn’t have a chance in the world of affording a school outside their own state’s public universities. For this we are grateful. But it doesn’t make the process any less difficult. The College Board does sincerely try to make understanding their CSS Profile possible, as my video will show. But some things still elude the comprehension of reasonably well-educated people. Even our accountant was confused by the meaning of some of the questions. So I can’t help but think that this should spawn an industry specializing in filling out the CSS Profile form. As far as I can tell, this hasn’t happened. At least not to any great extent. And, those who do offer the service are pretty expensive for those of us who actually need the financial aid. So, I (and others in the same boat) will slug it out with the CSS Profile for yet another year.