CSS/Financial Aid PROFILE® Webinar for Families October 2014 Meredith Barnhart Director, Integrated Communications Celebrating 30 years of Excellence Planning, Saving & Paying for College 1 The CSS/Financial Aid PROFILE® is a registered trademark of the College Board About MEFA • Not-for-profit state authority created in 1982 • Helping families plan, save, and pay for college • Keeping you on track with college planning: – – – – MEFA.org: tools & resources Emails: info catered to ages of your children Blog: subscribe online Facebook & Twitter: like us and follow us 2 What is the CSS / Financial Aid PROFILE®? • College Board’s online financial aid application • Required by almost 400 colleges/universities and scholarship programs • Used to award non-federal financial aid funds • Opens October 1st each year • Customized to the needs of the student and institution • Available for both domestic and international students 3 1 Why Do Institutions Use the PROFILE®? • Collects more detailed information than the FAFSA • Institutional Methodology uses PROFILE®-specific data • Allows schools to ask customized questions • Permits you to provide special circumstances • Provides schools with applicant information earlier than the FAFSA 4 Start Here: student.collegeboard.org/profile Select correct year List of colleges Create College Board account Participating Institutions and Programs 6 2 Registration • Must complete in one sitting • Social Security Number – not required but recommended • Use a valid email address • Enrollment status, parent marital status, citizenship status – Info reported determines application questions • Select colleges • Save your CSS ID • Customized Pre-Application Worksheet and Instructions 7 Application Process: General Tips • “Save & Exit” anytime – can revisit and complete later • Use buttons in application, not web browser, to navigate • Cannot leave numeric questions blank – must enter a zero • Estimate income figures if taxes are not completed • “Print/Review Application” anytime • “Add/Remove Colleges” anytime during the application process • Parent section: green & white; Student section: blue & white 8 General Information Requested • Parent Income and Assets • Custodial parent and current spouse • Student Income and Assets • Household Information • Number of children in college 9 3 More Information = Better Estimate of Family’s Ability to Pay • Parent Income – Three years – Social Security Benefits, Earned Income Credit, Additional Child Tax Credit • Parent Assets – Value and debt of primary home – Business and farm information (all applicants) – Parent assets held in siblings’ names • Parent expenses – Medical/dental – Elementary/secondary school tuition – Education loan repayments 10 More Information = Better Estimate of Family’s Ability to Pay • Family data – Ages of siblings – Colleges where siblings attend • Student data – Expected-year income – Private scholarships – Employee tuition benefits • Explanation of special circumstances 11 The Noncustodial PROFILE (NCP) • For families w/ divorced or separated parents, or never married parents, living separately • Separate application completed by noncustodial parent and spouse • ncprofile.collegeboard.com • Only required by certain schools (check with financial aid office) • Requests same information as collected from custodial parent • Link to online form is sent to the student upon completion of Registration 12 4 Fees • $25 for the application and initial school report • $16 for each additional school report • Fees are paid by the family • Payment options: Credit card or debit card • Noncustodial PROFILE: $25 one-time fee 13 Fee Waivers • Automatically granted based on family finances • USDA reduced price lunch income guidelines (~$40K for family of 4) • Asset cutoff ($30K or less; home equity < $100K) • Available to first-time applicants whose parents live in U.S. • Orphans/wards of the court under age 24 automatically eligible (except int’l) • Notified at time of submission • Covers reports to 8 institutions • Same fee waiver rules apply to Noncustodial PROFILE 14 Fee Payment Codes • Purchased by colleges/universities/organizations for use by students • Each code pays for one college submission • Students may use up to 16 15 5 Submitting the PROFILE • Once submitted, cannot make online edits or delete schools • Student will receive PROFILE® Acknowledgment – Summarizes information reported – Lists each’s schools additional requirements – Edit form by hand & send to colleges • Select “Add Colleges to Submitted Application” anytime • “Check Status”: date submitted & date sent to school • On time = by midnight ET of earliest priority deadline 16 What is IDOC? • College Board’s Institutional Documentation Service • Collects family documents (such as tax returns) on institution’s behalf • Notified of IDOC requirement on PROFILE® Acknowledgment • Cover Sheet • IDOC Customer Service: (305) 420-3688 • idoc.collegeboard.com 17 Customer Service • Phone: (305) 829-9793 – M to F, 9am -6pm, ET; 8am – 10pm Jan-Apr • Email: [email protected] • “Contact Us” button: provides phone & email • Click ? Icon or Help Code (such as SI-100F) next to each question • “Help Desk” button: FAQs, English & Spanish Glossary, Tips • 2015-16 PROFILE Student Guide on PROFILE® homepage 18 6 Interactive Presentation css.collegeboard.org 19 Family Webinar Series All webinars will be held at 12pm • College Financing • Fri Oct 17, 2014 (Spanish) • Wed, Nov 19, 2014 (English) • Understanding the FAFSA • Wed, January 14, 2015 • After the Acceptance • Tues, March 31, 2015 • Wed, April 15, 2015 • How to Pay the College Bill • Thurs, June 4, 2015 • Comparing Loan Options • Wed, June 24, 2015 • Thurs, July 9, 2015 Register under MEFA.org/Plan for College/Grade 12/Events 20 Thank You Questions? Comments? Meredith Barnhart Director, Integrated Communications [email protected] 617-224-4863 mefa.org 21 7
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