The Perfect PROFILE
The Perfect PROFILE
So you filled out the FAFSA? That’s fantastic! But wait—there’s more … the CSS PROFILE. Have you heard of it? Started it? Well, you’d better get a move on! It’s due February 15 for prospective students! Don’t worry; if you are a returning student, you have until May 1.
Keep in mind that the CSS PROFILE is used to help distribute institutional financial aid- like grant money from the school. The FAFSA, on the other hand, is used to distribute federal financial aid- like Pell Grants, Federal Direct Loans, and Federal Work Study.
Whether it’s your first time or your fourth time filling out the ol’ CSS PROFILE, here are some tips for submitting the Perfect PROFILE.
(Source: College Board)
1. Be sure to include your social security number on your application. I know, I know, you may feel like you’re giving your personal information away everywhere throughout the college application process—but it really is necessary for financial aid. That’s how all elements of your financial aid application link up together.
2. Use our filing code! In order for your CSS PROFILE to go straight to the University of Rochester, be sure to include filing code 2928.
3. Make sure you are submitting the correct PROFILE for the correct academic year. This is a big one! If you’re applying for aid for the fall of 2014, you will be filling out a 2014-2015 CSS PROFILE.
4. If you know in advance that you will be receiving an outside scholarship, be sure to include that on the CSS PROFILE! When you declare the amount, also be sure to indicate where it’s coming from in the ‘Explanation’ section at the end of the form.
5. Retirement assets do not count. You do not need to include them when reporting overall investments.
6. On that note, when you estimate retirement contribution, refer to the W-2s. Box 5 minus Box 1 is the number you should report. It’s that easy!
7. Be sure to estimate tax information for the base year—don’t just input all the figures from the prior year tax return you’re referring to! When applying for aid for the 2014-2015 academic year, 2012 is the prior year and 2013 is the base year. Your CSS PROFILE should use estimates of 2013 tax information.
8. When asked about interest income, that’s not plain old income. Do not report wages in that box. That box is for money made in interest from investments over the course of a tax year.
(Source: College Board)
9. If you have a non-custodial parent, be sure to have him or her fill out the Noncustodial Parent PROFILE. When you complete the PROFILE with your custodial parent, there should be an opportunity at the end of the form for College Board to send the link for the Non-Custodial Parent PROFILE directly to that parent. Otherwise, you can send that link to them yourself in the future. If you no longer have contact with your non-custodial parent, please contact your financial aid counselor.
10. Take advantage of the ‘Special Circumstances’ section. That box is there for a reason—if there is something unusual going on in your family’s financial situation, use that box to explain the circumstances fully. It may help you in the long run!
If you do happen to make a mistake while filling out the PROFILE, and only realize it after you’ve submitted the form, never fear! You can print out the document and hand write corrections where necessary, then send the form to our office. Snail mail, email, fax—it’s all good!
And if you’re wondering, why PROFILE? keep in mind that it’s a way for us to distribute institutional dollars in the form of grant funding in a fair and equitable fashion. That $25 fee to fill out the form doesn’t seem like much when you think of it as an investment in your future!