The FAFSA® is the government application to be considered for federal grants, work-study, and loans. However, the FAFSA® is also often used to determine your eligibility for non-federal aid too, like state aid, college scholarships, and some external scholarships.
Many colleges do not require any additional financial aid forms beyond the FAFSA® to determine their financial aid awards. However, about 400 colleges (mostly private ones) require you to also fill out the CSS Profile, which is a separate application run by the College Board, the same company that administers the SAT. The CSS Profile is used to award non-federal financial aid. Check with your college to see if you need to fill out the CSS Profile.
The main differences between the FAFSA® and the CSS Profile are:
The cost: The government version of the FAFSA® is free. The CSS Profile costs $25 for the first school and $16 per additional school. However, you may be eligible for fee waivers. (Your college would then give you a promo code to enter at the end of the form, when you’re meant to pay.)
The username: You’ll need an FSA ID to submit and sign your FAFSA® application. You’ll need a College Board username (like the one you used for viewing SAT scores) for the CSS Profile.
The questions: The FAFSA® asks the same set of personal info and financial questions to everyone. The CSS Profile customizes the application based on what schools you’re applying to. (It might include a bunch of questions your college has specifically requested.)
The assets considered: While the FAFSA® never asks you about the value of your home, the CSS Profile does. Different schools then decide how much to weigh your home equity when evaluating how much your family can afford to pay.
The years considered: While the FAFSA® only asks you for your tax information from two years ago, the CSS Profile asks you about your income two years ago, one year ago, and this year (your expected/estimated income). This way, colleges can see if there’s lots of fluctuation in your family’s financial situation. They also will see more updated information.