In addition, the CSS Profile more closely examines a family's financial situation in order to award aid to students with the most financial need. Prior to filling out the CSS Profile, it might be helpful to read this article. However, on December 14, , The College Board announced that "starting in fall , CSS Profile will also allow an unlimited number of CSS Profile applications for first-time, domestic college applicants who take the SAT with a fee waiver or meet income-eligibility criteria.
Understanding the Financial Aid Application Steps. Double-check with each college you're planning or have applied with to see if you need to submit any additional paperwork. How the Financial Aid Process Works. Rather, your EFC is a government formula that provides colleges with an indication of what you might be able to afford.
Keep a copy of the SAR for your records. The College Board further clarifies that "the FM Federal Method is used to calculate the student's eligibility for federal aid, such as Pell Grants, and most types of state aid.
It's used by most public universities. Many private colleges and scholarship programs, and some public universities use the IM Institutional Method to determine the student's eligibility for their own grant funds. The cost of attendance is a combination of tuition, room and board, books, travel, and personal expenses. Let's understand these numbers a little better. Now, each of these schools can decide how it might help with financial need using the school's financial aid.
Below shows each potential scenario. However, if you have not yet done so, you should fill it out as soon as possible. Which tax year will impact my financial aid eligibility each year? The Department of Education announced last Fall that beginning with the academic year, the FAFSA would be available as early as October 1 and that an earlier year of tax information would be requested in order to make the process more convenient for families.
You already have my taxes on file; do I need to resubmit? If they are separated or divorced, each parent will fill out their own CSS Profile. If you have not yet filed your tax returns, feel free to estimate. If you are an international student who cannot afford the CSS Profile fee, or if you live in a country from which the College Board cannot process payments, you may follow this alternate set of instructions.
We require submission of tax and other documents through the College Board IDOC Service , which is a fast and secure way to upload your information for review. IDOC will show a list of basic documents to be uploaded, but their list is not the definitive list of what you need to submit. Additional required documents are listed below. Gather together all of the following that apply, and submit them to IDOC. Please do not send draft or estimated taxes. We need the actual tax return as filed with the government.
If your documents are not in English, please be sure to translate them. For many international students, this will be whatever documentation of income your parents submit to their national government. If your parents do not file tax returns, please submit a Tax Non-Filer Statement , and whatever documentation they do have, such as a wage statement, salary certificate, or letter from their employer s stating annual income. Students who submit tax returns should be sure that they are signed.
Business documents : if either of your parents has an interest in a business or farm, submit:. Trust or estate documents : if you or your parents are the beneficiary of an estate or trust, submit:. Complete the steps to apply for financial aid by November 15th. We'll process your financial aid application and let you know if we need anything else. Your student can expect to receive a financial aid award letter around the same time as the admission decision.
Complete the steps to apply for financial aid by February 1st. Late February and Early March. March and April. Review and compare financial aid award offers from all schools. Your student should accept financial aid awards and complete student loan requirements if borrowing loans. If needed, determine the ways you will manage the costs not covered by your student's financial aid package.
Fall of Arrive at DU and attend Discoveries Orientation! The fall quarter portion of your student's financial aid will automatically pay toward the DU bill.
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