Paying the Bill: College Scholarship Service Financial Aid Profile (CSS PROFILE)

The PROFILE takes into account all the sources of income and assets used in the FAFSA, and asks for additional information such as the value of home equity, parental funds in the name of siblings, and amounts withheld from wages for medical spending accounts. These additions generally increase the expected family contribution in those cases where they apply. On the other side of the ledger, however, the PROFILE calculations consider some of a family’s expenses such as medical and dental costs and private school tuition. Normally, schools that require the PROFILE will also require the noncustodial PROFILE, thus taking into consideration the income and assets of a noncustodial parent. A need calculation using the CSS PROFILE is known as “institutional methodology” to distinguish it from the federal one.

The College Board, the administrator of the SAT, also administers the PROFILE. Information about the PROFILE can be found at www.collegeboard.com. Unlike the FAFSA, which uses the same application for everyone, the PROFILE is customized for each family with additional questions requested by the colleges to which the student is applying for aid. Individual colleges can choose from among a large number of additional questions dealing with things such as foreign assets, the cash value of life insurance plans, or the value of Section 529 plans established for the student by someone other than the student’s parent. The extra questions that appear on a student’s form will vary depending on the colleges a student lists when registering for the PROFILE.

The PROFILE can only be submitted online (https://profileonline.collegeboard .com). Unlike the FAFSA, which is free, students pay a fee to register for the CSS PROFILE and then a fee for each college to which the results are sent. In 2009–10, the registration fee was $9, with an additional charge of $16 per college. The PROFILE is available by October 1, and colleges typically require students to submit the PROFILE within a few weeks of their application deadline.

As with the FAFSA, the CSS PROFILE is usually completed with estimated numbers. Since you cannot make changes to the Profile after it is submitted (except for adding schools), the colleges themselves will update the numbers after they receive tax forms from the family.

The good news is that the FAFSA, the PROFILE, and the various state forms are submitted only once; you list the colleges that should receive the information, and the forms are sent electronically by the processing agency. However, you will have to keep careful track of which forms your schools request. For example, the University of Virginia requires the FAFSA and a college-specific form. The University of North Carolina asks its applicants to submit the FAFSA and the PROFILE. Also be sure to pay attention to any supplemental forms that a school may require.

In all cases, you need to keep track of submission deadlines. If you plan to apply early action or early decision, colleges will typically ask you to submit the PROFILE and their own institutional form, if any, soon after the application deadline and then follow up with the FAFSA later, after it becomes available on January 1. Getting your forms in as early as you can is always wise.