9 of 106

What is Financial Aid?

Financial aid is money to help students pay for college

3 main types:

Grants and scholarships (gift aid)

Merit & Need-based

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

10 of 106

What is Financial Aid?

Financial aid is money to help students pay for college

3 main types:

Grants and scholarships (gift aid)

Merit & Need-based

Federal work-study

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

11 of 106

What is Financial Aid?

Financial aid is money to help students pay for college

3 main types:

Grants and scholarships (gift aid)

Merit & Need-based

Federal work-study
Federal student loans

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

12 of 106

Merit-Based Scholarships

HOW TO FIND & APPLY:

DIRECTLY THROUGH COLLEGE ADMISSIONS:

- Awarded only from certain colleges
- Mostly given by schools where the applicant would stand out

- Apply to “safer” colleges for more chance at merit aid

- OR Be a highly desirable student for a specific school in that specific year

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

13 of 106

Merit-Based Scholarships

HOW TO FIND & APPLY:

DIRECTLY THROUGH COLLEGE ADMISSIONS:

- Awarded only from certain colleges
- Mostly given by schools where the applicant would stand out

- Apply to “safer” colleges for more chance at merit aid

- OR Be a highly desirable student for a specific school in that specific year

OR THROUGH OUTSIDE SCHOLARSHIP ORGANIZATIONS

- Takes time, organization, & persistence to apply�- Search scholarship websites that do not require a log-in: 12th Grade Counseling Newsletter , Bureau of Labor Statistics, Cappex, Peterson’s, JLV College Counseling, Berkshire Taconic Comm. Found.

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

14 of 106

Need-Based Scholarships

HOW TO FIND & APPLY:

MAIN APPLICATION FOR U.S. FAMILIES:

- Free Application for Federal Student Aid (FAFSA)
- Owned by the U.S. Dept. of Education
- Required by all U.S. colleges for U.S. citizens only
- Not available until December this year (?)

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

15 of 106

Need-Based Scholarships

HOW TO FIND & APPLY:

MAIN APPLICATION FOR U.S. FAMILIES:

- Free Application for Federal Student Aid (FAFSA)
- Owned by the U.S. Dept. of Education
- Required by all U.S. colleges for U.S. citizens only
- Not available until December this year (?)

POSSIBLY ALSO THE CSS PROFILE

- Around 200 colleges & universities require for ALL applicants
- Owned by the College Board (costs $25 for first college, $16 for others)

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

16 of 106

Need-Based Scholarships

HOW TO FIND & APPLY:

MAIN APPLICATION FOR U.S. FAMILIES:

- Free Application for Federal Student Aid (FAFSA)
- Owned by the U.S. Dept. of Education
- Required by all U.S. colleges for U.S. citizens only
- Not available until December this year (?)

POSSIBLY ALSO THE CSS PROFILE

- Around 300 colleges & universities require for ALL applicants
- Owned by the College Board (costs $25 for first college, $16 for others)

POSSIBLY ALSO A COLLEGE’S INDIVIDUAL APPLICATION FORM

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

17 of 106

What is a “Full Ride?”

18 of 106

What is a “Full Ride?”

19 of 106

Federal “Direct” Loans

HOW TO FIND & APPLY:

FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)

STUDENT FEDERAL DIRECT LOAN

No credit check
Subsidized and Unsubsidized
6.39% fixed interest rate for 2025-26

The interest rate for 2025-26 Federal Direct Student Loans will be set in May
Federal loan options should ALWAYS be considered before private options. If you do not use the eligible amount in any given year, you will not be able to borrower that amount in future years. i.e. If a student does not borrow freshman year loan of $5,500, they will not be able to borrow the $5,500 in sophomore year. Use it or lose it.
Direct Loans are student loans
Subsidized loans count within the total financial aid that is filling in the financial need, so they can’t cover the SAI
Go over loan details and limits:

Student Direct Loan: $5,500 FR, $6,500 SO, $7,500 JR & SR – these all include a $2,000 Unsub DL Loan each year

Tell families that even students with NO financial need can receive a $5,500 Unsubsidized Direct Loan
Start the kitchen table conversations now as a family about affordable monthly payments and debt that students will be able to afford based on future earnings.

$300 is the approximate monthly payment for a student who borrows $27,000, which is the amount of 4 years of maximum Direct Loans
$32,000-$34,000 is the APPROXIMATE amount in total debt, including interest, if someone borrowed $27,000.

Student will need to sign a Master Promissory Note and complete entrance counseling on StudentLoans.gov
Direct Loan – all U.S. citizens/permanent residents are eligible
Students whose parents are denied for the PLUS loan are automatically eligible for a $4K (FR & SO) or $5K (JR & SR) Unsub Direct Loan – these amounts are in addition to the limits above
Many repayment options are available for borrowers, including those tied to the new grad’s income. Forgiveness provisions exist for certain professions. See StudentLoans.gov for details. All Direct Loans don’t have to be repaid until after the student leaves school.
What is reasonable student loan debt? On average, student borrowers in Massachusetts who graduated in 2020 owed $33,457 according to TICAS: https://ticas.org/interactive-map/
Additional Loan Options:

NIL: A MA state loan for low-income students; not available at all schools

Parents who want loans will have to apply for them separately and will need to be credit-worthy (a PLUS Loan is a federal parent loan but still requires a credit-worthy borrower and an application)
Students who want an additional loan will need to apply through a private source and will need a credit-worthy co-borrower
Many private loans offer multiple repayment options allowing families to start make payments while the student is in school or to defer payments until after the student graduates

20 of 106

Federal “Direct” Loans

Student Annual Loan Limits
First Year	$5,500
Sophomore	$6,500
Junior Year	$7,500
Senior Year	$7,500

HOW TO FIND & APPLY:

FREE APPLICATION FOR FEDERAL STUDENT AID

STUDENT FEDERAL DIRECT LOAN

No credit check
Subsidized and Unsubsidized
6.53% fixed interest rate for 2024 - 25

The interest rate for 2025-26 Federal Direct Student Loans will be set in May
Federal loan options should ALWAYS be considered before private options. If you do not use the eligible amount in any given year, you will not be able to borrower that amount in future years. i.e. If a student does not borrow freshman year loan of $5,500, they will not be able to borrow the $5,500 in sophomore year. Use it or lose it.
Direct Loans are student loans
Subsidized loans count within the total financial aid that is filling in the financial need, so they can’t cover the SAI
Go over loan details and limits:

Student Direct Loan: $5,500 FR, $6,500 SO, $7,500 JR & SR – these all include a $2,000 Unsub DL Loan each year

Tell families that even students with NO financial need can receive a $5,500 Unsubsidized Direct Loan
Start the kitchen table conversations now as a family about affordable monthly payments and debt that students will be able to afford based on future earnings.

$300 is the approximate monthly payment for a student who borrows $27,000, which is the amount of 4 years of maximum Direct Loans
$32,000-$34,000 is the APPROXIMATE amount in total debt, including interest, if someone borrowed $27,000.

Student will need to sign a Master Promissory Note and complete entrance counseling on StudentLoans.gov
Direct Loan – all U.S. citizens/permanent residents are eligible
Students whose parents are denied for the PLUS loan are automatically eligible for a $4K (FR & SO) or $5K (JR & SR) Unsub Direct Loan – these amounts are in addition to the limits above
Many repayment options are available for borrowers, including those tied to the new grad’s income. Forgiveness provisions exist for certain professions. See StudentLoans.gov for details. All Direct Loans don’t have to be repaid until after the student leaves school.
What is reasonable student loan debt? On average, student borrowers in Massachusetts who graduated in 2020 owed $33,457 according to TICAS: https://ticas.org/interactive-map/
Additional Loan Options:

NIL: A MA state loan for low-income students; not available at all schools

Parents who want loans will have to apply for them separately and will need to be credit-worthy (a PLUS Loan is a federal parent loan but still requires a credit-worthy borrower and an application)
Students who want an additional loan will need to apply through a private source and will need a credit-worthy co-borrower
Many private loans offer multiple repayment options allowing families to start make payments while the student is in school or to defer payments until after the student graduates

21 of 106

Federal “Direct” Loans

Student Annual Loan Limits
First Year	$5,500
Sophomore	$6,500
Junior Year	$7,500
Senior Year	$7,500

HOW TO FIND & APPLY:

FREE APPLICATION FOR FEDERAL STUDENT AID

STUDENT FEDERAL DIRECT LOAN

No credit check
Subsidized and Unsubsidized
6.53% fixed interest rate for 2024 - 25

PARENT FEDERAL DIRECT LOAN

Credit check
Higher borrowing limit
8.08% fixed interest rate for 2024 - 25

The interest rate for 2025-26 Federal Direct Student Loans will be set in May
Federal loan options should ALWAYS be considered before private options. If you do not use the eligible amount in any given year, you will not be able to borrower that amount in future years. i.e. If a student does not borrow freshman year loan of $5,500, they will not be able to borrow the $5,500 in sophomore year. Use it or lose it.
Direct Loans are student loans
Subsidized loans count within the total financial aid that is filling in the financial need, so they can’t cover the SAI
Go over loan details and limits:

Student Direct Loan: $5,500 FR, $6,500 SO, $7,500 JR & SR – these all include a $2,000 Unsub DL Loan each year

Tell families that even students with NO financial need can receive a $5,500 Unsubsidized Direct Loan
Start the kitchen table conversations now as a family about affordable monthly payments and debt that students will be able to afford based on future earnings.

$300 is the approximate monthly payment for a student who borrows $27,000, which is the amount of 4 years of maximum Direct Loans
$32,000-$34,000 is the APPROXIMATE amount in total debt, including interest, if someone borrowed $27,000.

Student will need to sign a Master Promissory Note and complete entrance counseling on StudentLoans.gov
Direct Loan – all U.S. citizens/permanent residents are eligible
Students whose parents are denied for the PLUS loan are automatically eligible for a $4K (FR & SO) or $5K (JR & SR) Unsub Direct Loan – these amounts are in addition to the limits above
Many repayment options are available for borrowers, including those tied to the new grad’s income. Forgiveness provisions exist for certain professions. See StudentLoans.gov for details. All Direct Loans don’t have to be repaid until after the student leaves school.
What is reasonable student loan debt? On average, student borrowers in Massachusetts who graduated in 2020 owed $33,457 according to TICAS: https://ticas.org/interactive-map/
Additional Loan Options:

NIL: A MA state loan for low-income students; not available at all schools

Parents who want loans will have to apply for them separately and will need to be credit-worthy (a PLUS Loan is a federal parent loan but still requires a credit-worthy borrower and an application)
Students who want an additional loan will need to apply through a private source and will need a credit-worthy co-borrower
Many private loans offer multiple repayment options allowing families to start make payments while the student is in school or to defer payments until after the student graduates

22 of 106

Federal “Direct” Loans

Student Annual Loan Limits
First Year	$5,500
Sophomore	$6,500
Junior Year	$7,500
Senior Year	$7,500

PLUS Loan Annual Limits = �

School’s Total Cost of Attendance

- Minus -

Existing Financial Aid

HOW TO FIND & APPLY:

FREE APPLICATION FOR FEDERAL STUDENT AID

STUDENT FEDERAL DIRECT LOAN

No credit check
Subsidized and Unsubsidized
6.53% fixed interest rate for 2024 - 25

PARENT FEDERAL DIRECT LOAN

Credit check
Higher borrowing limit
8.08% fixed interest rate for 2024 - 25

The interest rate for 2025-26 Federal Direct Student Loans will be set in May
Federal loan options should ALWAYS be considered before private options. If you do not use the eligible amount in any given year, you will not be able to borrower that amount in future years. i.e. If a student does not borrow freshman year loan of $5,500, they will not be able to borrow the $5,500 in sophomore year. Use it or lose it.
Direct Loans are student loans
Subsidized loans count within the total financial aid that is filling in the financial need, so they can’t cover the SAI
Go over loan details and limits:

Student Direct Loan: $5,500 FR, $6,500 SO, $7,500 JR & SR – these all include a $2,000 Unsub DL Loan each year

Tell families that even students with NO financial need can receive a $5,500 Unsubsidized Direct Loan
Start the kitchen table conversations now as a family about affordable monthly payments and debt that students will be able to afford based on future earnings.

$300 is the approximate monthly payment for a student who borrows $27,000, which is the amount of 4 years of maximum Direct Loans
$32,000-$34,000 is the APPROXIMATE amount in total debt, including interest, if someone borrowed $27,000.

Student will need to sign a Master Promissory Note and complete entrance counseling on StudentLoans.gov
Direct Loan – all U.S. citizens/permanent residents are eligible
Students whose parents are denied for the PLUS loan are automatically eligible for a $4K (FR & SO) or $5K (JR & SR) Unsub Direct Loan – these amounts are in addition to the limits above
Many repayment options are available for borrowers, including those tied to the new grad’s income. Forgiveness provisions exist for certain professions. See StudentLoans.gov for details. All Direct Loans don’t have to be repaid until after the student leaves school.
What is reasonable student loan debt? On average, student borrowers in Massachusetts who graduated in 2020 owed $33,457 according to TICAS: https://ticas.org/interactive-map/
Additional Loan Options:

NIL: A MA state loan for low-income students; not available at all schools

Parents who want loans will have to apply for them separately and will need to be credit-worthy (a PLUS Loan is a federal parent loan but still requires a credit-worthy borrower and an application)
Students who want an additional loan will need to apply through a private source and will need a credit-worthy co-borrower
Many private loans offer multiple repayment options allowing families to start make payments while the student is in school or to defer payments until after the student graduates

23 of 106

Federal “Direct” Loans

Student Annual Loan Limits
First Year	$5,500
Sophomore	$6,500
Junior Year	$7,500
Senior Year	$7,500

PLUS Loan Annual Limits = �

School’s Total Cost of Attendance

- Minus -

Existing Financial Aid

HOW TO FIND & APPLY:

FREE APPLICATION FOR FEDERAL STUDENT AID

STUDENT FEDERAL DIRECT LOAN

No credit check
Subsidized and Unsubsidized
6.53% fixed interest rate for 2024 - 25

PARENT FEDERAL DIRECT LOAN

Credit check
Higher borrowing limit
8.08% fixed interest rate for 2024 - 25

MUST BE REPAID WITH INTEREST AFTER COLLEGE!!!

Use a loan calculator to estimate 4 year repayment
Flexible repayment options - don’t count on forgiveness

The interest rate for 2025-26 Federal Direct Student Loans will be set in May
Federal loan options should ALWAYS be considered before private options. If you do not use the eligible amount in any given year, you will not be able to borrower that amount in future years. i.e. If a student does not borrow freshman year loan of $5,500, they will not be able to borrow the $5,500 in sophomore year. Use it or lose it.
Direct Loans are student loans
Subsidized loans count within the total financial aid that is filling in the financial need, so they can’t cover the SAI
Go over loan details and limits:

Student Direct Loan: $5,500 FR, $6,500 SO, $7,500 JR & SR – these all include a $2,000 Unsub DL Loan each year

Tell families that even students with NO financial need can receive a $5,500 Unsubsidized Direct Loan
Start the kitchen table conversations now as a family about affordable monthly payments and debt that students will be able to afford based on future earnings.

$300 is the approximate monthly payment for a student who borrows $27,000, which is the amount of 4 years of maximum Direct Loans
$32,000-$34,000 is the APPROXIMATE amount in total debt, including interest, if someone borrowed $27,000.

Student will need to sign a Master Promissory Note and complete entrance counseling on StudentLoans.gov
Direct Loan – all U.S. citizens/permanent residents are eligible
Students whose parents are denied for the PLUS loan are automatically eligible for a $4K (FR & SO) or $5K (JR & SR) Unsub Direct Loan – these amounts are in addition to the limits above
Many repayment options are available for borrowers, including those tied to the new grad’s income. Forgiveness provisions exist for certain professions. See StudentLoans.gov for details. All Direct Loans don’t have to be repaid until after the student leaves school.
What is reasonable student loan debt? On average, student borrowers in Massachusetts who graduated in 2020 owed $33,457 according to TICAS: https://ticas.org/interactive-map/
Additional Loan Options:

NIL: A MA state loan for low-income students; not available at all schools

Parents who want loans will have to apply for them separately and will need to be credit-worthy (a PLUS Loan is a federal parent loan but still requires a credit-worthy borrower and an application)
Students who want an additional loan will need to apply through a private source and will need a credit-worthy co-borrower
Many private loans offer multiple repayment options allowing families to start make payments while the student is in school or to defer payments until after the student graduates

24 of 106

“Work-Study” Offer

HOW TO FIND & APPLY:

FREE APPLICATION FOR FEDERAL STUDENT �AID (FAFSA)

WHAT IS IT?

Like a job offer - not automatic money
Student must find their own job
Earned gradually based on hours worked

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

25 of 106

“Work-Study” Offer

HOW TO FIND & APPLY:

FREE APPLICATION FOR FEDERAL STUDENT �AID (FAFSA)

WHAT IS IT?

Like a job offer - not automatic money
Student must find their own job
Earned gradually based on hours worked

ANY STUDENT CAN FIND AND WORK THEIR OWN JOB ON OR OFF CAMPUS regardless of work study

Financial aid is simply money to help students pay for college
THREE main types of financial aid
Grants and scholarships are allocations of free money, also known as gift aid, which do not need to be repaid
Work-study does not come off the student’s bill and is a set amount of funding saved for a student to earn while on campus working in a part-time job
Work-study earnings are paid in paycheck form
Earnings from a co-op program or a work-study position are taxable but excluded from total income within the federal financial aid calculation
Federal student loans are considered financial aid because of their special repayment terms. As well, they are the only option for a college student to borrow a loan without a co-signer at a low, fixed interest rate
Student loans must be repaid
You do not have to accept loans or work-study

26 of 106

How to Predict How Much Aid You’ll Get?

*** USE NET PRICE CALCULATORS (Usually)***�

WHAT?

Like a “financial aid predictor” without identifying info

Provides estimated net college price
Merit-based aid may also be included�

27 of 106

How to Predict How Much Aid You’ll Get?

*** USE NET PRICE CALCULATORS (Usually)***�

WHAT?

Like a “financial aid predictor” without identifying info

Provides estimated net college price
Merit-based aid may also be included�

WHERE?

Found on each school’s website
Or here: https://collegecost.ed.gov/net-price
Some schools have a simplified version called “MyInTuition”�https://myintuition.org/quick-college-cost-estimator/�

28 of 106

How to Predict How Much Aid You’ll Get?

*** USE NET PRICE CALCULATORS (Usually)***�

WHAT?

Like a “financial aid predictor” without identifying info

Provides estimated net college price
Merit-based aid may also be included�

WHERE?

Found on each school’s website
Or here: https://collegecost.ed.gov/net-price
Some schools have a simplified version called “MyInTuition”�https://myintuition.org/quick-college-cost-estimator/�

WHO?

Best for U.S. citizens who are single or married families who do not own multiple properties or who are not self-employed or business owners

29 of 106

The Application Process

30 of 106

Financial Aid Timeline

WHEN TO APPLY?

� .... IT’S DIFFERENT FOR EVERY COLLEGE & UNIVERSITY!!

RESEARCH EACH COLLEGE’S FINANCIAL AID WEBSITES

Use MEFA’s College Application Manager to stay organized

mefa.org/college-application-manager

31 of 106

Financial Aid Timeline

WHEN TO APPLY?

� .... IT’S DIFFERENT FOR EVERY COLLEGE & UNIVERSITY!!

RESEARCH EACH COLLEGE’S FINANCIAL AID WEBSITES

Use MEFA’s College Application Manager to stay organized

mefa.org/college-application-manager

FOR EARLY APPLICATIONS: (Due dates between Nov. 1 - Dec. 15)

If the school uses a CSS Profile, it became available �on Oct. 1st and should be completed as close to admissions deadline as possible
If the school does not use the CSS Profile and/or their website isn’t clear about what to do, call or email them to ask.

32 of 106

Financial Aid Timeline cont’d

WHEN TO APPLY? Cont’d

For FAFSA only schools, there are two possibilities:

Wait to complete the FAFSA after it’s available December 1
OR some colleges have created their own unique financial aid �forms to complete sooner

33 of 106

Financial Aid Timeline cont’d

WHEN TO APPLY? Cont’d

For FAFSA only schools, there are two possibilities:

Wait to complete the FAFSA after it’s available December 1
OR some colleges have created their own unique financial aid �forms to complete sooner

WHEN WILL I FIND OUT MY FINANCIAL AID and/or MERIT SCHOLARSHIPS?

Most Colleges & Universities who award merit will include it with �the admissions offer (Be aware, it is a “four-year total” offer)
CSS Profile schools should provide an estimated award if/when you receive an admissions offer as long as you’ve submitted all required documents on time
For FAFSA only schools, you will probably have to wait until Feb-April or later

34 of 106

WHAT YOU CAN DO NOW TO PREPARE

All FAFSA “contributors” create FSA ID account

Identity-verified username and password

SAVE IT SO YOU CAN FIND IT AGAIN!!!

Understand who is a “contributor” on the FAFSA:

Always the Student

—--------------------->>

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application opens October 1^st
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student needs an FSA ID to login, and parent & student both need an FSA ID to sign electronically (otherwise will need to print the signature page and mail it – this is necessary for parents without a SSN, as parents without a SSN cannot get an FSA ID).
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

Introduce IRS Data Retrieval Tool, which will populate the FAFSA with income tax information, though if used, the family will not be able to VIEW the income tax information (for security purposes). Even though the tax information cannot be viewed when using the IRS DRT, families should still be encouraged to use the tool, as it will in many cases help to avoid selection for Verification and streamline the FAFSA process. It cannot be used by parents married filing separately, those who had a change in marital status during the tax year, or for foreign/Puerto Rican returns.
If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the EFC from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

35 of 106

WHAT YOU CAN DO NOW TO PREPARE

All FAFSA “contributors” create FSA ID account

Identity-verified username and password

SAVE IT SO YOU CAN FIND IT AGAIN!!!

Understand who is a “contributor” on the FAFSA:

Always the Student, plus parent/guardian/s:

If married & file taxes jointly, only one parent is required

—--------------------->>

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application opens October 1^st
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student needs an FSA ID to login, and parent & student both need an FSA ID to sign electronically (otherwise will need to print the signature page and mail it – this is necessary for parents without a SSN, as parents without a SSN cannot get an FSA ID).
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

Introduce IRS Data Retrieval Tool, which will populate the FAFSA with income tax information, though if used, the family will not be able to VIEW the income tax information (for security purposes). Even though the tax information cannot be viewed when using the IRS DRT, families should still be encouraged to use the tool, as it will in many cases help to avoid selection for Verification and streamline the FAFSA process. It cannot be used by parents married filing separately, those who had a change in marital status during the tax year, or for foreign/Puerto Rican returns.
If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the EFC from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

36 of 106

WHAT YOU CAN DO NOW TO PREPARE

All FAFSA “contributors” create FSA ID account

Identity-verified username and password

SAVE IT SO YOU CAN FIND IT AGAIN!!!

Understand who is a “contributor” on the FAFSA:

Always the Student, plus parent/guardian/s:

If married & file taxes jointly, only one parent is required
If married & file taxes separately, both parents/stepparent required

—--------------------->>

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application opens October 1^st
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student needs an FSA ID to login, and parent & student both need an FSA ID to sign electronically (otherwise will need to print the signature page and mail it – this is necessary for parents without a SSN, as parents without a SSN cannot get an FSA ID).
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

Introduce IRS Data Retrieval Tool, which will populate the FAFSA with income tax information, though if used, the family will not be able to VIEW the income tax information (for security purposes). Even though the tax information cannot be viewed when using the IRS DRT, families should still be encouraged to use the tool, as it will in many cases help to avoid selection for Verification and streamline the FAFSA process. It cannot be used by parents married filing separately, those who had a change in marital status during the tax year, or for foreign/Puerto Rican returns.
If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the EFC from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

37 of 106

WHAT YOU CAN DO NOW TO PREPARE

All FAFSA “contributors” create FSA ID account

Identity-verified username and password

SAVE IT SO YOU CAN FIND IT AGAIN!!!

Understand who is a “contributor” on the FAFSA:

Always the Student, plus parent/guardian/s:

If married & file taxes jointly, only one parent is required
If married & file taxes separately, both parents/stepparent required
If divorced/separated, the parent who contributes the most financially

—--------------------->>

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application opens October 1^st
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student needs an FSA ID to login, and parent & student both need an FSA ID to sign electronically (otherwise will need to print the signature page and mail it – this is necessary for parents without a SSN, as parents without a SSN cannot get an FSA ID).
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

Introduce IRS Data Retrieval Tool, which will populate the FAFSA with income tax information, though if used, the family will not be able to VIEW the income tax information (for security purposes). Even though the tax information cannot be viewed when using the IRS DRT, families should still be encouraged to use the tool, as it will in many cases help to avoid selection for Verification and streamline the FAFSA process. It cannot be used by parents married filing separately, those who had a change in marital status during the tax year, or for foreign/Puerto Rican returns.
If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the EFC from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

38 of 106

WHAT YOU CAN DO NOW TO PREPARE

All FAFSA “contributors” create FSA ID account

Identity-verified username and password

SAVE IT SO YOU CAN FIND IT AGAIN!!!

Understand who is a “contributor” on the FAFSA:

Always the Student, plus parent/guardian/s:

If married & file taxes jointly, only one parent is required
If married & file taxes separately, both parents/stepparent required
If divorced/separated, the parent who contributes the most financially

Collect & review 2023 Tax Returns, determine business value if applicable, know any 2023 child support received

—--------------------->>

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application opens October 1^st
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student needs an FSA ID to login, and parent & student both need an FSA ID to sign electronically (otherwise will need to print the signature page and mail it – this is necessary for parents without a SSN, as parents without a SSN cannot get an FSA ID).
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

Introduce IRS Data Retrieval Tool, which will populate the FAFSA with income tax information, though if used, the family will not be able to VIEW the income tax information (for security purposes). Even though the tax information cannot be viewed when using the IRS DRT, families should still be encouraged to use the tool, as it will in many cases help to avoid selection for Verification and streamline the FAFSA process. It cannot be used by parents married filing separately, those who had a change in marital status during the tax year, or for foreign/Puerto Rican returns.
If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the EFC from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

39 of 106

WHAT YOU CAN DO NOW TO PREPARE

All FAFSA “contributors” create FSA ID account

Identity-verified username and password

SAVE IT SO YOU CAN FIND IT AGAIN!!!

Understand who is a “contributor” on the FAFSA:

Always the Student, plus parent/guardian/s:

If married & file taxes jointly, only one parent is required
If married & file taxes separately, both parents/stepparent required
If divorced/separated, the parent who contributes the most financially

Collect & review 2023 Tax Returns, determine business value if applicable, know any 2023 child support received

—--------------------->>

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application opens October 1^st
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student needs an FSA ID to login, and parent & student both need an FSA ID to sign electronically (otherwise will need to print the signature page and mail it – this is necessary for parents without a SSN, as parents without a SSN cannot get an FSA ID).
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

Introduce IRS Data Retrieval Tool, which will populate the FAFSA with income tax information, though if used, the family will not be able to VIEW the income tax information (for security purposes). Even though the tax information cannot be viewed when using the IRS DRT, families should still be encouraged to use the tool, as it will in many cases help to avoid selection for Verification and streamline the FAFSA process. It cannot be used by parents married filing separately, those who had a change in marital status during the tax year, or for foreign/Puerto Rican returns.
If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the EFC from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

40 of 106

FAFSA® Facts

REQUIRED STEPS TO COMPLETE�

Ideally, student and parent will complete together at the same time

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application usually opens October 1^st but it will be December 1st this year
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student and all parents on the FASFA need an FSA ID to log in to the FAFSA (except if parents filed taxes together, and then only one needs an FSA ID)
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

The FAFSA will pull their tax data from the IRS into the FAFSA though the family will not be able to VIEW the income tax information (for security purposes). If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the SAI from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

41 of 106

FAFSA® Facts

REQUIRED STEPS TO COMPLETE�

Ideally, student and parent will complete together at the same time

Student & parent must sign separately as “contributors” with own FSA ID
Whoever signs in first must “invite” the other by email
Each sign-on only shows info relevant for that contributor

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application usually opens October 1^st but it will be December 1st this year
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student and all parents on the FASFA need an FSA ID to log in to the FAFSA (except if parents filed taxes together, and then only one needs an FSA ID)
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

The FAFSA will pull their tax data from the IRS into the FAFSA though the family will not be able to VIEW the income tax information (for security purposes). If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the SAI from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

42 of 106

FAFSA® Facts

REQUIRED STEPS TO COMPLETE�

Ideally, student and parent will complete together at the same time

Student & parent must sign separately as “contributors” with own FSA ID
Whoever signs in first must “invite” the other by email
Each sign-on only shows info relevant for that contributor

ALL FAFSA “contributors” must provide consent to have their information verified by the IRS, regardless of tax filing status

Including student & adult non-filers and/or non-income earners
Manually inputting your tax-specific income information will result in no calculation of aid eligibility

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application usually opens October 1^st but it will be December 1st this year
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student and all parents on the FASFA need an FSA ID to log in to the FAFSA (except if parents filed taxes together, and then only one needs an FSA ID)
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

The FAFSA will pull their tax data from the IRS into the FAFSA though the family will not be able to VIEW the income tax information (for security purposes). If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the SAI from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

43 of 106

FAFSA® Facts

REQUIRED STEPS TO COMPLETE�

Ideally, student and parent will complete together at the same time

Student & parent must sign separately as “contributors” with own FSA ID
Whoever signs in first must “invite” the other by email
Each sign-on only shows info relevant for that contributor

ALL FAFSA “contributors” must provide consent to have their information verified by the IRS, regardless of tax filing status

Including student & adult non-filers and/or non-income earners
Manually inputting your tax-specific income information will result in no calculation of aid eligibility

Incomplete FAFSAs are deleted after 45 days of no activity

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application usually opens October 1^st but it will be December 1st this year
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student and all parents on the FASFA need an FSA ID to log in to the FAFSA (except if parents filed taxes together, and then only one needs an FSA ID)
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

The FAFSA will pull their tax data from the IRS into the FAFSA though the family will not be able to VIEW the income tax information (for security purposes). If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the SAI from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

44 of 106

FAFSA® Facts

REQUIRED STEPS TO COMPLETE�

Ideally, student and parent will complete together at the same time

Student & parent must sign separately as “contributors” with own FSA ID
Whoever signs in first must “invite” the other by email
Each sign-on only shows info relevant for that contributor

ALL FAFSA “contributors” must provide consent to have their information verified by the IRS, regardless of tax filing status

Including student & adult non-filers and/or non-income earners
Manually inputting your tax-specific income information will result in no calculation of aid eligibility

Incomplete FAFSAs are deleted after 45 days of no activity
FAFSA is submitted once to multiple colleges & universities - more can be added & submitted later

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application usually opens October 1^st but it will be December 1st this year
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student and all parents on the FASFA need an FSA ID to log in to the FAFSA (except if parents filed taxes together, and then only one needs an FSA ID)
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

The FAFSA will pull their tax data from the IRS into the FAFSA though the family will not be able to VIEW the income tax information (for security purposes). If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the SAI from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

45 of 106

FAFSA® Facts

REQUIRED STEPS TO COMPLETE�

Ideally, student and parent will complete together at the same time

Student & parent must sign separately as “contributors” with own FSA ID
Whoever signs in first must “invite” the other by email
Each sign-on only shows info relevant for that contributor

ALL FAFSA “contributors” must provide consent to have their information verified by the IRS, regardless of tax filing status

Including student & adult non-filers and/or non-income earners
Manually inputting your tax-specific income information will result in no calculation of aid eligibility

Incomplete FAFSAs are deleted after 45 days of no activity
FAFSA is submitted once to multiple colleges & universities - more can be added & submitted later

�Register for 25-26 FAFSA Walkthrough Webinar (MEFA)�

PDF draft of 2024-2025 FAFSA questions

FAFSA:

Discuss the benefits of completing the FAFSA online: skip logic, saved info year-to-year, etc.
The website for the FAFSA is FAFSA.gov and it’s FREE to apply
The application usually opens October 1^st but it will be December 1st this year
Stress that meeting the deadline is VERY IMPORTANT- Some schools may run out of money after their priority deadline.

If you are filling out the FAFSA early for EA or ED deadlines, you can always do a FAFSA correction later on to add more schools that were not initially on the students list.

Student and all parents on the FASFA need an FSA ID to log in to the FAFSA (except if parents filed taxes together, and then only one needs an FSA ID)
Getting an FSA ID takes several minutes (and for some reason can create some difficulty for families, so encourage families to get it NOW before the FAFSA even opens so it’s all ready)

Keep the FSA ID and password in a safe place so it is easy to retrieve. It can be cumbersome to reset or request a new FSA ID.
Families will need to set up answers to challenge questions

The FAFSA will pull their tax data from the IRS into the FAFSA though the family will not be able to VIEW the income tax information (for security purposes). If there are big discrepancies between income data from year to year, families should talk to the college financial aid offices
Must complete the FAFSA each year
Mention FAFSA Day as resource for free help completing the application
Federal and MA state financial aid eligibility will be based exclusively on the SAI from the FAFSA. The FAFSA must be completed for MA state aid by May 1!
The FAFSA webinar goes page by page through the application – provides a lot of detail
Student does not see parent information and vice versa

46 of 106

47 of 106

FAFSA® Facts

REQUIRED INFORMATION TO INPUT

Names of colleges where you’re applying (up to 20)

48 of 106

FAFSA® Facts

REQUIRED INFORMATION TO INPUT

Names of colleges where you’re applying (up to 20)
Total # in household, & # of children in college (not adults)

More than 1 in college is no longer factored in federal aid formula, but �individual colleges can make their own decisions whether to factor it for �their own institutional aid �

49 of 106

FAFSA® Facts

REQUIRED INFORMATION TO INPUT

Names of colleges where you’re applying (up to 20)
Total # in household, & # of children in college (not adults)

More than 1 in college is no longer factored in federal aid formula, but �individual colleges can make their own decisions whether to factor it for �their own institutional aid �

Parent and student assets

Include: savings, checking, investments (non-retirement), other property

50 of 106

FAFSA® Facts

REQUIRED INFORMATION TO INPUT

Names of colleges where you’re applying (up to 20)
Total # in household, & # of children in college (not adults)

More than 1 in college is no longer factored in federal aid formula, but �individual colleges can make their own decisions whether to factor it for �their own institutional aid �

Parent and student assets

Include: savings, checking, investments (non-retirement), other property
Include: Child support received (in 2023)
Include: 529 account in student name only (as a parent asset)
Include: Any family business or farm value

51 of 106

FAFSA® Facts

REQUIRED INFORMATION TO INPUT

Names of colleges where you’re applying (up to 20)
Total # in household, & # of children in college (not adults)

More than 1 in college is no longer factored in federal aid formula, but �individual colleges can make their own decisions whether to factor it for �their own institutional aid �

Parent and student assets

Include: savings, checking, investments (non-retirement), other property
Include: Child support received (in 2023)
Include: 529 account in student name only (as a parent asset)
Include: Any family business or farm value

52 of 106

FAFSA® Facts

REQUIRED INFORMATION TO INPUT

Names of colleges where you’re applying (up to 20)
Total # in household, & # of children in college (not adults)

More than 1 in college is no longer factored in federal aid formula, but �individual colleges can make their own decisions whether to factor it for �their own institutional aid �

Parent and student assets

Include: savings, checking, investments (non-retirement), other property
Include: Child support received (in 2023)
Include: 529 account in student name only (as a parent asset)
Include: Any family business or farm value

�Citizenship Status:

U.S. Citizens or Permanent Resident

Undocumented status can’t do FAFSA but can get MA State Aid

�Citizenship Status:

Student must be U.S. Citizens or Permanent Resident

Undocumented students can’t do FAFSA but can get MA State Aid!

53 of 106

FAFSA® Facts

REQUIRED INFORMATION TO INPUT

Names of colleges where you’re applying (up to 20)
Total # in household, & # of children in college (not adults)

More than 1 in college is no longer factored in federal aid formula, but �individual colleges can make their own decisions whether to factor it for �their own institutional aid �

Parent and student assets

Include: savings, checking, investments (non-retirement), other property
Include: Child support received (in 2023)
Include: 529 account in student name only (as a parent asset)
Include: Any family business or farm value
Do not include: primary home, value of retirement, life insurance

NOT INCLUDED: Debts & most expenses (mortgage, car, student loans, credit cards, child support paid)

�Citizenship Status:

U.S. Citizens or Permanent Resident

Undocumented status can’t do FAFSA but can get MA State Aid

�Citizenship Status:

Student must be U.S. Citizens or Permanent Resident

Undocumented students can’t do FAFSA but can get MA State Aid!

54 of 106

CSS Profile Application

REQUIRED STEPS TO COMPLETE�

Student logs into cssprofile.org via the College Board

- No other logins required

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

55 of 106

CSS Profile Application

REQUIRED STEPS TO COMPLETE�

Student logs into cssprofile.org via the College Board

- No other logins required

Prepare to report all legal/bio parents’ information, including income, & assets

- regardless of marital status or household status
- Include step-parents if remarried

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

56 of 106

CSS Profile Application

REQUIRED STEPS TO COMPLETE�

Student logs into cssprofile.org via the College Board

- No other logins required

Prepare to report all legal/bio parents’ information, including income, & assets

- regardless of marital status or household status
- Include step-parents if remarried
- If one parent is not able to be contacted, you must still put in as much info as you know, & request a “Non-custodial waiver” process at each college requiring a CSS Profile - many use this Waiver form, but not all

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

57 of 106

CSS Profile Application

REQUIRED STEPS TO COMPLETE�

Student logs into cssprofile.org via the College Board

- No other logins required

Prepare to report all legal/bio parents’ information, including income, & assets

- regardless of marital status or household status
- Include step-parents if remarried
- If one parent is not able to be contacted, you must still put in as much info as you know, & request a “Non-custodial waiver” process at each college requiring a CSS Profile - many use this Waiver form, but not all

Prepare to report all 2023 federal tax & income, plus any other income, assets, and amounts

- Federal Tax & income Forms may be required to submit to some colleges later

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

58 of 106

CSS Profile Application

REQUIRED STEPS TO COMPLETE�

Student logs into cssprofile.org via the College Board

- No other logins required

Prepare to report all legal/bio parents’ information, including income, & assets

- regardless of marital status or household status
- Include step-parents if remarried
- If one parent is not able to be contacted, you must still put in as much info as you know, & request a “Non-custodial waiver” process at each college requiring a CSS Profile - many use this Waiver form, but not all

Prepare to report all 2023 federal tax & income, plus any other income, assets, and amounts

- Federal Tax & income Forms may be required to submit to some colleges later

Prepare to pay $25 for the first college, and $16 for each subsequent college

- Automatic fee waivers if parent income is $100k or less, possibly other circumstances

MEFA Youtube walkthrough videos of CSS Profile

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

59 of 106

CSS Profile Application

REQUIRED INFORMATION TO INPUT

Up to 20 college names

- More can be added and submitted separately

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

60 of 106

CSS Profile Application

REQUIRED INFORMATION TO INPUT

Up to 20 college names

- More can be added and submitted separately

All FAFSA info plus primary home value, retirement savings value, possibly cars, secondary school tuition, medical expenses, eldercare expenses, possibly parents’ educational loans

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

61 of 106

CSS Profile Application

REQUIRED INFORMATION TO INPUT

Up to 20 college names

- More can be added and submitted separately

All FAFSA info plus primary home value, retirement savings value, possibly cars, secondary school tuition, medical expenses, eldercare expenses, possibly parents’ educational loans
Certain info may be corrected after submitting

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

62 of 106

CSS Profile Application

REQUIRED INFORMATION TO INPUT

Up to 20 college names

- More can be added and submitted separately

All FAFSA info plus primary home value, retirement savings value, possibly cars, secondary school tuition, medical expenses, eldercare expenses, possibly parents’ educational loans
Certain info may be corrected after submitting
Not required, but CSS Profile allows a “freewrite” section to explain any special circumstances, changes, or challenges that affect family finances

- If you include significant information in this section, be sure to followup proactively with each college when you receive your financial aid award to ensure they considered it

https://www.youtube.com/@MefaOrg

CSS Profile

Only some colleges and universities require this (mostly private)
Will also ask for income from two years prior as its main income information but ask for other basic income totals from other years
The Profile provides colleges more information to award institutional funds
There is a fee for the Profile: $25 for first, $16 for every additional school
If student is applying Early Decision/Early Action, the Profile may be required earlier than the regular financial aid deadline
The Profile student dashboard will provide important information, such as deadlines and next steps
The Profile Registration step has been eliminated. Applicant information will be saved as soon as the family begins completing the form
There is no longer a separate Noncustodial Profile. If parents are divorced or separated, both parents must complete a CSS Profile. The custodial parent should complete a Profile first, as the noncustodial parent will not be able to complete the application until the student (on the custodial’ parent’s Profile) selects a college that requires a CSS Profile from a noncustodial parent.
Schools have an entire process by which a family can appeal the requirement for the noncustodial parent to submit a Profile. A noncustodial parent’s unwillingness or refusal to complete the application will not exclude the student from the requirement to have the noncustodial parent submit a Profile.
MEFA provided a webinar for families on the CSS Profile in late September. The recording is on mefa.org.
It does not matter if you fill out the FAFSA or the Profile first. Easiest to fill them both out one after the other while the information is fresh and all the documents have been gathered.
Families can also be reminded that the Social Security Number, while still an optional field on the Common App and the Profile, is often used by schools as the identifier when compiling all student data and applications, and it is helpful for families to therefore report the student’s SSN on all applications when requested.
Also, some colleges and universities may have additional financial aid application requirements (separate forms, etc.). Remind families to check application requirements carefully and to return all school requests for additional information or a callback.
The CSS Profile now allows a person to indicate a topic for a special circumstance. The person can check the box for that topic but must also include a narrative in the box provided about the special circumstance.

College/University Financial Aid Application

Institutions can ask anything
Not many colleges require this at all - check with the college for details

More common for returning students

As part of the original financial aid application (and not simply for Verification), some schools may require families to provide the corresponding tax return when submitting the financial aid application(s).

63 of 106

After You Apply: Student Aid Index (SAI)

Formerly known as Expected Family Contribution (EFC)

A measure of your family’s overall financial strength - NOT necessarily what you’ll pay

64 of 106

After You Apply: Student Aid Index (SAI)

Formerly known as Expected Family Contribution (EFC)

A measure of your family’s overall financial strength - NOT necessarily what you’ll pay

The FAFSA calculates and shows your SAI immediately – it’s the same for every school �

65 of 106

After You Apply: Student Aid Index (SAI)

Formerly known as Expected Family Contribution (EFC)

A measure of your family’s overall financial strength - NOT necessarily what you’ll pay

The FAFSA calculates and shows your SAI immediately – it’s the same for every school �
The CSS Profile does not generate an SAI – each college generates their own number (may call it Family Contribution=FC)�

66 of 106

After You Apply: Student Aid Index (SAI)

Formerly known as Expected Family Contribution (EFC)

A measure of your family’s overall financial strength - NOT necessarily what you’ll pay

The FAFSA calculates and shows your SAI immediately – it’s the same for every school �
The CSS Profile does not generate an SAI – each college generates their own number (may call it Family Contribution=FC)�
0 - 47% of your income is included in your SAI/FC�(the lower the income, the less is included)
Between 0-6% of assets are included in SAI/FC

(the lower the income, the less is included)�

67 of 106

After You Apply: Student Aid Index (SAI)

Formerly known as Expected Family Contribution (EFC)

A measure of your family’s overall financial strength - NOT necessarily what you’ll pay

The FAFSA calculates and shows your SAI immediately – it’s the same for every school �
The CSS Profile does not generate an SAI – each college generates their own number (may call it Family Contribution=FC)�
0 - 47% of your income is included in your SAI/FC�(the lower the income, the less is included)
Between 0-6% of assets are included in SAI/FC

(the lower the income, the less is included)�

Ignore advice to “spend down” your savings prior to paying for college - it’s not worth it!!!

68 of 106

After You Apply: Student Aid Index (SAI)

Formerly known as Expected Family Contribution (EFC)

A measure of your family’s overall financial strength - NOT necessarily what you’ll pay

The FAFSA calculates and shows your SAI immediately – it’s the same for every school �
The CSS Profile does not generate an SAI – each college generates their own number (may call it Family Contribution=FC)�
0 - 47% of your income is included in your SAI/FC�(the lower the income, the less is included)
Between 0-6% of assets are included in SAI/FC

(the lower the income, the less is included)�

Ignore advice to “spend down” your savings prior to paying for college - it’s not worth it!!!

Williams tuition benefit counts IN ADDITION TO your SAI/FC

69 of 106

After You Apply: Student Aid Index (SAI)

Formerly known as Expected Family Contribution (EFC)

A measure of your family’s overall financial strength - NOT necessarily what you’ll pay

The FAFSA calculates and shows your SAI immediately – it’s the same for every school �
The CSS Profile does not generate an SAI – each college generates their own number (may call it Family Contribution=FC)�
0 - 47% of your income is included in your SAI/FC�(the lower the income, the less is included)
Between 0-6% of assets are included in SAI/FC

(the lower the income, the less is included)�

Ignore advice to “spend down” your savings prior to paying for college - it’s not worth it!!!

Williams tuition benefit counts IN ADDITION TO your SAI/FC

70 of 106

After You Apply

Colleges & state receive data electronically– may take multiple days

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

71 of 106

After You Apply

Colleges & state receive data electronically– may take multiple days
Student receives confirmation email each for FAFSA & CSS Profile, but must log back into FAFSA or College Board websites to check submitted data

Office of State Financial Aid for MA (OSFA) will send MA Grant eligibility determination
FAFSA confirmation is called “FAFSA Submission Summary = FSS” (formerly Student Aid Report/SAR)�

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

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After You Apply

Colleges & state receive data electronically– may take multiple days
Student receives confirmation email each for FAFSA & CSS Profile, but must log back into FAFSA or College Board websites to check submitted data

Office of State Financial Aid for MA (OSFA) will send MA Grant eligibility determination
FAFSA confirmation is called “FAFSA Submission Summary = FSS” (formerly Student Aid Report/SAR)�

Contact each Financial Aid Office with any special circumstances

Even if you wrote in the “freewrite” CSS Profile box!

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

73 of 106

After You Apply

Colleges & state receive data electronically– may take multiple days
Student receives confirmation email each for FAFSA & CSS Profile, but must log back into FAFSA or College Board websites to check submitted data

Office of State Financial Aid for MA (OSFA) will send MA Grant eligibility determination
FAFSA confirmation is called “FAFSA Submission Summary = FSS” (formerly Student Aid Report/SAR)�

Contact each Financial Aid Office with any special circumstances

Even if you wrote in the “freewrite” CSS Profile box!

KEEP CHECKING YOUR EMAIL AND ONLINE PORTALS for EACH school. They may request additional documents and won’t review your aid until you submit them.

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

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After You Apply

Colleges & state receive data electronically– may take multiple days
Student receives confirmation email each for FAFSA & CSS Profile, but must log back into FAFSA or College Board websites to check submitted data

Office of State Financial Aid for MA (OSFA) will send MA Grant eligibility determination
FAFSA confirmation is called “FAFSA Submission Summary = FSS” (formerly Student Aid Report/SAR)�

Contact each Financial Aid Office with any special circumstances

Even if you wrote in the “freewrite” CSS Profile box!

KEEP CHECKING YOUR EMAIL AND ONLINE PORTALS for EACH school. They may request additional documents and won’t review your aid until you submit them.

- Ex. Be aware of FAFSA “Verification Selection” and/or CSS Profile tax document submission (may require you to scan/send tax return copy and/or official transcript from IRS through email, �portals, or separate system such as “IDOC”)

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

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After You Apply

Colleges & state receive data electronically– may take multiple days
Student receives confirmation email each for FAFSA & CSS Profile, but must log back into FAFSA or College Board websites to check submitted data

Office of State Financial Aid for MA (OSFA) will send MA Grant eligibility determination
FAFSA confirmation is called “FAFSA Submission Summary = FSS” (formerly Student Aid Report/SAR)�

Contact each Financial Aid Office with any special circumstances

Eevn if you wrote in the “freewrite” CSS Profile box!

KEEP CHECKING YOUR EMAIL AND ONLINE PORTALS for EACH school. They may request additional documents and won’t review your aid until you submit them.

Each college reviews applications and determines financial aid on their own timeline with their own budgets

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

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After You Apply: Manage Applicant Portals

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

77 of 106

After You Apply: Manage Applicant Portals

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

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After You Apply:

Manage Applicant

Portals

Explain what happens with the applications once they are submitted

Information is sent off electronically and processed by a central processing center and data is sent to selected colleges as well as the Massachusetts Office of Student Financial Assistance
Students will receive a FAFSA Submission Summary (FSS) with a summary of FAFSA answers via email
For FAFSA corrections, students should go back onto fafsa.gov, make corrections, and re-submit the FAFSA to the appropriate schools
For Profile corrections, they can log in and make corrections once or contact the colleges directly
Students should be sure to review all answers and make sure they are accurate
Explain Verification process. U.S. Department of Education requires that schools verify data on certain FAFSAs. Explain what documents might be required
Tell families to READ THEIR EMAILS and check student portals from the financial aid office, to comply with requests, and to stay organized
Remind parents that colleges communicate with the students directly, and mostly electronically (so students should keep on top of email – some families set up a separate email address for all college communication that both students and parents can access)
Can let folks know to contact the financial aid office if something changes (a job loss) or if there are special circumstances (student wants to petition to be independent, etc.)

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How Financial Aid �Decisions are Made

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Cost of Attendance (COA)

COA = Total Expenses for

One Year of College

= Billed or Direct Expenses

Tuition & Fees

Food & Housing

Books & Supplies

Personal Expenses

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Cost of Attendance (COA)

COA = Total Expenses for

One Year of College

= Billed or Direct Expenses

Tuition & Fees

Food & Housing

Books & Supplies

Transportation

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Cost of Attendance (COA)

COA = Total Expenses for

One Year of College

= Billed or Direct Expenses

= Non-Billed or Indirect Expenses

Tuition & Fees

Food & Housing

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Cost of Attendance (COA)

COA = Total Expenses for

One Year of College

= Billed or Direct Expenses

= Non-Billed or Indirect Expenses

Tuition & Fees

Food & Housing

Books & Supplies

Transportation

Personal Expenses

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Financial Aid Formula

Cost of Attendance (COA)

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Financial Aid Formula

Cost of Attendance (COA)

- MINUS

Student Aid Index (SAI/FC)

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Financial Aid Formula

Cost of Attendance (COA)

- MINUS

Student Aid Index (SAI/FC)

= EQUALS

Financial Aid Eligibility = “Demonstrated Need”

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Financial Aid Formula

Cost of Attendance (COA)

- MINUS

Student Aid Index (SAI/FC)

= EQUALS

Financial Aid Eligibility = “Demonstrated Need”

Colleges try to fill in “demonstrated need” with aid from all sources (including loan and work), but most can’t afford to meet full need.

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$65,000

$10,000 (FAFSA only)

?? $5,000 - $20,000 (CSS PROFILE School)

$55,000 (FAFSA)

?? $60,000 - $45,000

(CSS PROFILE School)

Cost of Attendance

MINUS �

SAI

(Student Aid Index)

Grants/Scholarships

Student Loans

Parent Loans

Work-Study

Total

Unmet Needs

Target School

$27,500

$5,500

$2,000

$35,000

$5,000

College B

$17,500

$5,500

$10,000

$2,000

$5,000

College C

$5,500

$29,500

$35,000

$5,000

EQUALS�

“Demonstrated Need”

Financial Aid Award/Package/Offers Will Vary

When comparing award letters, you can’t just look at the bottom line. You need to compare what’s making up each financial aid award

Here are three examples of awards from colleges with the same Cost of Attendance
Might want to start out by asking the audience what’s different about these award letters (Parent Loan – you can explain the PLUS Loan here)
You can see that even though three hypothetical colleges have the same total financial aid, the funds making up that award vary greatly
Explain the differences and possible reasons for the variance
Talk about the different kinds of loans a family might see on an award letter
College C might have not offered any grants or scholarships because the student submitted the financial aid applications late
What should a family do if offered a parent loan?
Although this example assumes the same COA, remember this will not be the case with most schools! It’s important to really consider those different COAs.

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$65,000

$10,000 (FAFSA only)

?? $5,000 - $20,000 (CSS PROFILE School)

$55,000 (FAFSA)

?? $60,00 - $45,000

(CSS PROFILE School)

Cost of Attendance

MINUS �

SAI

(Student Aid Index)

Grants/Scholarships

Student Loans

Parent Loans

Work-Study

Total

Unmet Needs

Target School

$27,500

$5,500

$2,000

$35,000

$5,000

College B

$17,500

$5,500

$10,000

$2,000

$5,000

College C

$5,500

$29,500

$35,000

$5,000


Need-based Grant
Merit Scholarship
Student Loans
Parent Loan
Work-Study
Total “Aid”
EFC/Unmet Need

EQUALS�

“Demonstrated Need”

Financial Aid Award/Package/Offers Will Vary

When comparing award letters, you can’t just look at the bottom line. You need to compare what’s making up each financial aid award

Here are three examples of awards from colleges with the same Cost of Attendance
Might want to start out by asking the audience what’s different about these award letters (Parent Loan – you can explain the PLUS Loan here)
You can see that even though three hypothetical colleges have the same total financial aid, the funds making up that award vary greatly
Explain the differences and possible reasons for the variance
Talk about the different kinds of loans a family might see on an award letter
College C might have not offered any grants or scholarships because the student submitted the financial aid applications late
What should a family do if offered a parent loan?
Although this example assumes the same COA, remember this will not be the case with most schools! It’s important to really consider those different COAs.

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$65,000

$10,000 (FAFSA only)

?? $5,000 - $20,000 (CSS PROFILE School)

$55,000 (FAFSA)

?? $60,00 - $45,000

(CSS PROFILE School)

Cost of Attendance

MINUS �

SAI

(Student Aid Index)

Grants/Scholarships

Student Loans

Parent Loans

Work-Study

Total

Unmet Needs

Target School

$27,500

$5,500

$2,000

$35,000

$5,000

College B

$17,500

$5,500

$10,000

$2,000

$5,000

College C

$5,500

$29,500

$35,000

$5,000

	“Safety” School
Need-based Grant	$24,500
Merit Scholarship	$35,000
Student Loans	$5,500
Parent Loan	$0
Work-Study	$0
Total “Aid”	$65,000
EFC/Unmet Need	$0

EQUALS�

“Demonstrated Need”

Financial Aid Award/Package/Offers Will Vary

When comparing award letters, you can’t just look at the bottom line. You need to compare what’s making up each financial aid award

Here are three examples of awards from colleges with the same Cost of Attendance
Might want to start out by asking the audience what’s different about these award letters (Parent Loan – you can explain the PLUS Loan here)
You can see that even though three hypothetical colleges have the same total financial aid, the funds making up that award vary greatly
Explain the differences and possible reasons for the variance
Talk about the different kinds of loans a family might see on an award letter
College C might have not offered any grants or scholarships because the student submitted the financial aid applications late
What should a family do if offered a parent loan?
Although this example assumes the same COA, remember this will not be the case with most schools! It’s important to really consider those different COAs.

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$65,000

$10,000 (FAFSA only)

?? $5,000 - $20,000 (CSS PROFILE School)

$55,000 (FAFSA)

?? $60,00 - $45,000

(CSS PROFILE School)

Cost of Attendance

MINUS �

SAI

(Student Aid Index)

Grants/Scholarships

Student Loans

Parent Loans

Work-Study

Total

Unmet Needs

Target School

$27,500

$5,500

$2,000

$35,000

$5,000

College B

$17,500

$5,500

$10,000

$2,000

$5,000

College C

$5,500

$29,500

$35,000

$5,000

	“Safety” School	Target School
Need-based Grant	$24,500	$15,000
Merit Scholarship	$35,000	$25,000
Student Loans	$5,500	$5,500
Parent Loan	$0	$17,000
Work-Study	$0	$2,500
Total “Aid”	$65,000	$65,000
EFC/Unmet Need	$0	$0

EQUALS�

“Demonstrated Need”

Financial Aid Award/Package/Offers Will Vary

When comparing award letters, you can’t just look at the bottom line. You need to compare what’s making up each financial aid award

Here are three examples of awards from colleges with the same Cost of Attendance
Might want to start out by asking the audience what’s different about these award letters (Parent Loan – you can explain the PLUS Loan here)
You can see that even though three hypothetical colleges have the same total financial aid, the funds making up that award vary greatly
Explain the differences and possible reasons for the variance
Talk about the different kinds of loans a family might see on an award letter
College C might have not offered any grants or scholarships because the student submitted the financial aid applications late
What should a family do if offered a parent loan?
Although this example assumes the same COA, remember this will not be the case with most schools! It’s important to really consider those different COAs.

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$65,000

$10,000 (FAFSA only)

?? $5,000 - $20,000 (CSS PROFILE School)

$55,000 (FAFSA)

?? $60,00 - $45,000

(CSS PROFILE School)

Cost of Attendance

MINUS �

SAI

(Student Aid Index)

Grants/Scholarships

Student Loans

Parent Loans

Work-Study

Total

Unmet Needs

Target School

$27,500

$5,500

$2,000

$35,000

$5,000

College B

$17,500

$5,500

$10,000

$2,000

$5,000

College C

$5,500

$29,500

$35,000

$5,000

	“Safety” School	Target School	Reach School
Need-based Grant	$24,500	$15,000	$40,000
Merit Scholarship	$35,000	$25,000	$0
Student Loans	$5,500	$5,500	$4,000
Parent Loan	$0	$17,000	$0
Work-Study	$0	$2,500	$3,000
Total “Aid”	$65,000	$65,000	$47,000
EFC/Unmet Need	$0	$0	$18,000

EQUALS�

“Demonstrated Need”

Financial Aid Award/Package/Offers Will Vary

When comparing award letters, you can’t just look at the bottom line. You need to compare what’s making up each financial aid award

Here are three examples of awards from colleges with the same Cost of Attendance
Might want to start out by asking the audience what’s different about these award letters (Parent Loan – you can explain the PLUS Loan here)
You can see that even though three hypothetical colleges have the same total financial aid, the funds making up that award vary greatly
Explain the differences and possible reasons for the variance
Talk about the different kinds of loans a family might see on an award letter
College C might have not offered any grants or scholarships because the student submitted the financial aid applications late
What should a family do if offered a parent loan?
Although this example assumes the same COA, remember this will not be the case with most schools! It’s important to really consider those different COAs.

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$65,000

$10,000 (FAFSA only)

?? $5,000 - $20,000 (CSS PROFILE School)

$55,000 (FAFSA)

?? $60,00 - $45,000

(CSS PROFILE School)

Cost of Attendance

MINUS �

SAI

(Student Aid Index)

Grants/Scholarships

Student Loans

Parent Loans

Work-Study

Total

Unmet Needs

Target School

$27,500

$5,500

$2,000

$35,000

$5,000

College B

$17,500

$5,500

$10,000

$2,000

$5,000

College C

$5,500

$29,500

$35,000

$5,000

	“Safety” School	Target School	Reach School	Target/ReachSchool
Need-based Grant	$24,500	$15,000	$40,000	$15,000
Merit Scholarship	$35,000	$25,000	$0	$15,000
Student Loans	$5,500	$5,500	$4,000	$5,500
Parent Loan	$0	$17,000	$0	$0
Work-Study	$0	$2,500	$3,000	$4,000
Total “Aid”	$65,000	$65,000	$47,000	$39,500
EFC/Unmet Need	$0	$0	$18,000	$25,500

EQUALS�

“Demonstrated Need”

Financial Aid Award/Package/Offers Will Vary

When comparing award letters, you can’t just look at the bottom line. You need to compare what’s making up each financial aid award

Here are three examples of awards from colleges with the same Cost of Attendance
Might want to start out by asking the audience what’s different about these award letters (Parent Loan – you can explain the PLUS Loan here)
You can see that even though three hypothetical colleges have the same total financial aid, the funds making up that award vary greatly
Explain the differences and possible reasons for the variance
Talk about the different kinds of loans a family might see on an award letter
College C might have not offered any grants or scholarships because the student submitted the financial aid applications late
What should a family do if offered a parent loan?
Although this example assumes the same COA, remember this will not be the case with most schools! It’s important to really consider those different COAs.

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$65,000

$10,000 (FAFSA only)

?? $5,000 - $20,000 (CSS PROFILE School)

$55,000 (FAFSA)

?? $60,00 - $45,000

(CSS PROFILE School)

Cost of Attendance

MINUS �

SAI

(Student Aid Index)

Grants/Scholarships

Student Loans

Parent Loans

Work-Study

Total

Unmet Needs

Target School

$27,500

$5,500

$2,000

$35,000

$5,000

College B

$17,500

$5,500

$10,000

$2,000

$5,000

College C

$5,500

$29,500

$35,000

$5,000

	“Safety” School	Target School	Reach School	Target/ReachSchool	State COA = $35,500
Need-based Grant	$24,500	$15,000	$40,000	$15,000	$4,500
Merit Scholarship	$35,000	$25,000	$0	$15,000	$4,000
Student Loans	$5,500	$5,500	$4,000	$5,500	$5,500
Parent Loan	$0	$17,000	$0	$0	$0
Work-Study	$0	$2,500	$3,000	$4,000	$1,500
Total “Aid”	$65,000	$65,000	$47,000	$39,500	$15,500
Contribution /Unmet Need	$0	$0	$18,000	$25,500	$20,000

EQUALS�

“Demonstrated Need”

Financial Aid Award/Package/Offers Will Vary

When comparing award letters, you can’t just look at the bottom line. You need to compare what’s making up each financial aid award

Here are three examples of awards from colleges with the same Cost of Attendance
Might want to start out by asking the audience what’s different about these award letters (Parent Loan – you can explain the PLUS Loan here)
You can see that even though three hypothetical colleges have the same total financial aid, the funds making up that award vary greatly
Explain the differences and possible reasons for the variance
Talk about the different kinds of loans a family might see on an award letter
College C might have not offered any grants or scholarships because the student submitted the financial aid applications late
What should a family do if offered a parent loan?
Although this example assumes the same COA, remember this will not be the case with most schools! It’s important to really consider those different COAs.

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Paying for College

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Filling SAI/FC and Unmet Need

Balance Due:

$20,000

Families decide the best plan to meet the balance due at the college based on their own personal finances. The options fall under three major categories: past, present, and future income. Families don’t need to choose just one option (past, present, or future income) to pay the balance due, and combination plans can save money in the long run. Encourage families to visits mefa.org to access a Loan Payment Calculator, which allows families to understand the full cost of borrowing a loan

Reiterate that this is only for one year

Past Income: savings or other investments such as college saving plans
Present Income: Explain payment plan, e.g., owe $1,000? pay $100 per month for 10 months. Better than ANY loan
Future Income: borrowing loans. This will be in addition to student loans that are offered in the financial aid award. If families are considering financing any portion of the student’s education, they should take advantage of federal student loans first
You can speak here to wise borrowing, looking at interest rates and repayment options on private loans, not borrowing too much, and pointing out that students won’t be able to borrow private loans alone. Private loans are offered through banks, credit unions, lenders, and state authorities like MEFA. You can explain the PLUS Loan here as well.
Families need to be thinking about a long-term plan when deciding what options to use. This includes the total number of years the student plans to be enrolled as well as multiple children who plan to attend college

Colleges who use institutional methodology often expect the student to contribute from savings and/or summer work. Students are able to contribute to the payment plan along with the parents.

For families who are not receiving aid, you can still use these same steps. You will not be able to subtract aid, but if you have outside scholarships be sure to subtract them from direct costs.

Outside Scholarships can also be used as present income to help pay direct and indirect costs.
Remind families to think about the entire cost of the educational experience, not just the 1^st year.
Along the same lines, remember to consider all children in the household and potential college costs for them.
It’s Important to keep all options on the table, including lower cost institutions.

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Filling SAI/FC and Unmet Need

Balance Due:

$20,000

Past Income (Savings)

Student Savings

-$1,000

Parent Savings

-$4,000

Reiterate that this is only for one year

Past Income: savings or other investments such as college saving plans
Present Income: Explain payment plan, e.g., owe $1,000? pay $100 per month for 10 months. Better than ANY loan
Future Income: borrowing loans. This will be in addition to student loans that are offered in the financial aid award. If families are considering financing any portion of the student’s education, they should take advantage of federal student loans first
You can speak here to wise borrowing, looking at interest rates and repayment options on private loans, not borrowing too much, and pointing out that students won’t be able to borrow private loans alone. Private loans are offered through banks, credit unions, lenders, and state authorities like MEFA. You can explain the PLUS Loan here as well.
Families need to be thinking about a long-term plan when deciding what options to use. This includes the total number of years the student plans to be enrolled as well as multiple children who plan to attend college

Colleges who use institutional methodology often expect the student to contribute from savings and/or summer work. Students are able to contribute to the payment plan along with the parents.

For families who are not receiving aid, you can still use these same steps. You will not be able to subtract aid, but if you have outside scholarships be sure to subtract them from direct costs.

Outside Scholarships can also be used as present income to help pay direct and indirect costs.
Remind families to think about the entire cost of the educational experience, not just the 1^st year.
Along the same lines, remember to consider all children in the household and potential college costs for them.
It’s Important to keep all options on the table, including lower cost institutions.

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Filling SAI/FC and Unmet Need

Balance Due:

$20,000

Past Income (Savings)

Student Savings

-$1,000

Parent Savings

-$4,000

Present Income (Current Wages)

Parent Contribution to Payment Plan

-$5,000

Most Colleges Should Have Monthly Payment Plans with Low Enrollment Fees & NO Interest

Reiterate that this is only for one year

Past Income: savings or other investments such as college saving plans
Present Income: Explain payment plan, e.g., owe $1,000? pay $100 per month for 10 months. Better than ANY loan
Future Income: borrowing loans. This will be in addition to student loans that are offered in the financial aid award. If families are considering financing any portion of the student’s education, they should take advantage of federal student loans first
You can speak here to wise borrowing, looking at interest rates and repayment options on private loans, not borrowing too much, and pointing out that students won’t be able to borrow private loans alone. Private loans are offered through banks, credit unions, lenders, and state authorities like MEFA. You can explain the PLUS Loan here as well.
Families need to be thinking about a long-term plan when deciding what options to use. This includes the total number of years the student plans to be enrolled as well as multiple children who plan to attend college

Colleges who use institutional methodology often expect the student to contribute from savings and/or summer work. Students are able to contribute to the payment plan along with the parents.

For families who are not receiving aid, you can still use these same steps. You will not be able to subtract aid, but if you have outside scholarships be sure to subtract them from direct costs.

Outside Scholarships can also be used as present income to help pay direct and indirect costs.
Remind families to think about the entire cost of the educational experience, not just the 1^st year.
Along the same lines, remember to consider all children in the household and potential college costs for them.
It’s Important to keep all options on the table, including lower cost institutions.

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Filling SAI/FC and Unmet Need

-$10,000

Balance Due:

$20,000

Past Income (Savings)

Student Savings

-$1,000

Parent Savings

-$4,000

Present Income (Current Wages)

Parent Contribution to Payment Plan

-$5,000

Future Income (Borrowing College Loans)

Education Loan

Most Colleges Should Have Monthly Payment Plans with Low Enrollment Fees & NO Interest

Reiterate that this is only for one year

Past Income: savings or other investments such as college saving plans
Present Income: Explain payment plan, e.g., owe $1,000? pay $100 per month for 10 months. Better than ANY loan
Future Income: borrowing loans. This will be in addition to student loans that are offered in the financial aid award. If families are considering financing any portion of the student’s education, they should take advantage of federal student loans first
You can speak here to wise borrowing, looking at interest rates and repayment options on private loans, not borrowing too much, and pointing out that students won’t be able to borrow private loans alone. Private loans are offered through banks, credit unions, lenders, and state authorities like MEFA. You can explain the PLUS Loan here as well.
Families need to be thinking about a long-term plan when deciding what options to use. This includes the total number of years the student plans to be enrolled as well as multiple children who plan to attend college

Colleges who use institutional methodology often expect the student to contribute from savings and/or summer work. Students are able to contribute to the payment plan along with the parents.

For families who are not receiving aid, you can still use these same steps. You will not be able to subtract aid, but if you have outside scholarships be sure to subtract them from direct costs.

Outside Scholarships can also be used as present income to help pay direct and indirect costs.
Remind families to think about the entire cost of the educational experience, not just the 1^st year.
Along the same lines, remember to consider all children in the household and potential college costs for them.
It’s Important to keep all options on the table, including lower cost institutions.

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Paying for College in MA

To apply for MA state financial aid, complete the FAFSA by May 1^st

https://www.mass.gov/free-and-affordable-college

MassEducate: Free community college (tuition & fees and potential book allowance) for all students
Mass Reconnect: Free community college for adults over 25 years of age
MASSGrant Plus Expansion: Free or reduced tuition & fees for low & middle-income students and potential book allowance
Tuition Equity Law: Some undocumented students can receive MA state aid and in-state tuition rates (https://www.mass.edu/tuitionequity/home.asp)
MassTransfer: Makes transferring from a MA community college to a 4-year MA public college more affordable
Tuition Break: Reduction on out-of-state tuition costs at New England colleges for certain programs (https://nebhe.org/)

mefa.org/paying-college-massachusetts

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Free Resources & To-Do List

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Free Resources

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•Free assistance completing the FAFSA

•Events held Oct-Feb

•Offered in both English and Spanish

•Register at FAFSADay.org

•Non-profit providing free financial aid help and career readiness services

•Schedule an appointment

with an education advisor

•massedco.org/

•No-cost college and career planning resource for students in grades 6-12

•mefapathway.org

FAFSA Day is part of the National College Goal Sunday Program and is a statewide volunteer program that provides free information and assistance to students and families who are applying for financial aid for postsecondary education

FAFSA Day will have open virtual events this year.

Educational Opportunity Centers offer free assistance with financial aid. Right now staff are meeting with students via phone and Zoom. They will begin soon trying to meet with students in person at their Worcester office. Many of the programs (EOCs) are housed in schools so appointments will be subject to the rules of the particular schools system but, in general, students can always be helped remotely. Schools will add some limited in-person counseling when appropriate. The former ASA help center housed at the Boston Public Library is now operated by MassEdCO. Currently no one is in the library so these counselors are helping students remotely. The MassEdCO website will continue to be updated as things evolve so it is always good to send students there and encourage them to call or e-mail.

Students can search for scholarships on Fastweb.com as well as mefapathway.org

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To Do: Talk About $$$ Open & Honestly

College Choice Considerations

A balanced college list will provide the most options
Community college can save significant $$$
Does the college have adequate services the student needs (learning and/or physical accommodations, dietary, dorm living, mental & physical health services)
Would taking a gap year benefit the student?
Ask Admissions & Career service offices for data on job placement & salary

Other Family Considerations

Total number in the family going to college
Think in terms of total enrollment (4+ years) and total debt
Is graduate school in anyone’s future?
Compare college costs after final merit & financial aid offers

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To-Do Now

Talk about money openly and honestly
Apply to an academically and financially balanced list of colleges
Get an FSA ID for the student and parent
Gather 2023 tax & income info/forms in case you need to submit them
Complete net price calculators if applicable
Complete a loan calculator to estimate 4 year repayment
Research deadlines and required applications on each college’s website

If any school requires a CSS Profile, use student’s log into College Board to begin filling it out

Make a scholarship plan and follow it
Pay attention to emails from colleges you’re applying to!!!
Register for other webinars at mefa.org/events