You’ve Applied for Financial Aid — What Comes Next? 

Submitting the FAFSA is a major milestone in securing financial aid for your student. However, the process doesn’t end there. Many colleges require additional forms and documents to ensure your family receives the maximum aid available.  

Overlooking a requirement or missing deadline can cost your family valuable federal, state, or institutional aid. To avoid surprises, follow these steps: 

1. Review Each College’s Financial Aid Requirements 

Every college has its own deadlines, forms, and processes. Visit each school’s financial aid webpage and confirm what is required. Don’t assume all schools follow the same rules, as many have unique internal applications.  

Be sure to reach out to the college’s financial aid office if you have questions about the financial aid application process, as they can provide valuable support. By staying informed and proactive, you can better navigate the financial aid process and make well-informed choices regarding your student’s education. 

2. Check If the CSS Profile Is Required 

The CSS Profile, administered by the College Board, is a financial aid application utilized by various colleges and universities to evaluate a student’s eligibility for institutional financial assistance. Unlike the FAFSA, which is mainly directed toward federal aid, the CSS Profile collects more in-depth financial data, allowing schools to personalize their financial aid packages according to individual needs. 

Many universities, including private ones and liberal arts colleges, use the CSS Profile for assessing institutional aid and need-based grants, and it is similar to the FAFSA, but not free. The first application costs $25; each additional report is $16. 

The CSS Profile also offers an automatic fee waiver for applicants who meet the College Board’s income criteria. Eligibility is determined upon submission, with the waiver covering both initial and additional reports.  

You can check to see which institutions and programs require the completion of the CSS profile on the College Board’s official page. 

3. For Two-Household Families 

If your parents are separated or divorced, some colleges may require a second CSS Profile from the non-custodial parent (the parent your student didn’t live with most of the past year). Colleges may request this to gain a full understanding of a family’s financial situation for financial aid purposes. This process is crucial for evaluating the financial landscape, considering both parents’ financial circumstances, regardless of custody.

If you have no contact with your noncustodial parent or face certain circumstances, you can request a waiver to bypass this requirement. 

4. Upload Tax Documents 

In addition to submitting the FAFSA and CSS Profile, some colleges might request additional financial documents to verify your income. These forms could include tax returns, W-2s, 1099s, and Business/Farm Supplements for each business you own. 

It’s important to note that not all colleges require you to send documents directly to them. The College Board provides a service called the Institutional Documentation Service (IDOC), which collects these documents and submits them to colleges on your behalf. 

How IDOC works: 

1. Log in and upload or mail documents. 
2. The College Board processes and updates your dashboard. 
3. Documents are sent to your colleges. 

5. Monitor Student Portals 

Every college offers a student portal with financial aid updates, which is crucial for accessing all aid requirements. Visit your portal regularly to check for missing information, as notifications may not be emailed.  

An example of an important notification that can come through the portal is having your FAFSA selected for verification, a process used to confirm income and identity details requiring extra documents. Missing deadlines for situations like this can lead to losing federal aid.  

The portal will also send notifications to students if the college needs extra document requirements like W-2 forms and tax transcripts, so remember to check often! 

6. Look for Supplemental Forms 

Although the FAFSA and CSS Profile are crucial for obtaining federal and institutional financial aid, certain colleges might also ask for extra forms or documentation in addition to these two. For example, Princeton requires the Princeton Financial Aid Application (PFAA), and the University of Nevada uses MyNEVADA for Work Study, scholarships, and enrollment submissions, and Harvard has an extensive list of supplementary financial aid documents, though not all are necessary. 

When in doubt, contact the financial aid office to confirm that you’ve submitted everything. 

Financial aid isn’t a one-and-done process. Staying proactive and organized can make the difference between paying full price and receiving thousands in grants and scholarships. Staying organized and proactive will help with tracking deadlines for each college, remember to check portals often, and to submit all required forms promptly. Your attention to detail can make a significant difference in the financial aid your student receives for their education. 

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