From Time Media:

The CSS Profile is a financial aid form that many colleges require in addition to the FAFSA. It’s used mainly by selective private colleges and some elite public ones to determine eligibility for college funds. The CSS Profile costs $25 to submit, but students with an adjusted gross income of $100,000 or less can do it for free.

The CSS Profile delves deeper into family finances than the FAFSA, looking at assets such as the value of a family’s primary residence, retirement savings, and annuities. It also considers a larger portion of those assets as part of what you can afford to pay for college. While the FAFSA is generally used in a standard way, the CSS Profile provides colleges with greater flexibility in awarding financial aid and may include supplemental questions from the institution.

Students applying to over 200 selective schools and some elite public ones will need to complete both the FAFSA and the CSS Profile. The CSS Profile opens on October 1 for the following academic year, so families should check with their prospective colleges for individual deadlines.

The CSS Profile asks for extensive financial information, including tax returns, account balances, investment details, and major expenses. While it takes longer to complete than the FAFSA, the detail required by the CSS Profile can benefit families by providing a more complete financial picture. It costs $25 to submit the profile to one college, but families with an adjusted gross income of $100,000 or less can fill out the form for free, as can students who qualified for a fee waiver on the SAT.

Tips for filling out the CSS Profile include gathering the necessary documents, reading the directions carefully, and giving yourself plenty of time to assemble everything you need. Be smart about where you store money and spend down student-owned accounts at least two years before applying for aid to maximize your financial aid eligibility.



Read more: How to Fill Out the CSS Profile for College Financial Aid