FAFSA and CSS Profile
FAFSA
FAFSA stands for Free Application for Federal Student Aid, a free, online application for financial aid for college. FAFSA opens each year on October 1 and requires the previous year's taxes; for example, a student entering college in Fall of 2022 would start the FAFSA Oct. 1, 2021 using their parent(s)/guardian(s)' 2020 taxes (this is not a typo; the FAFSA requires "prior prior year" taxes).
To start the FAFSA application: apply for an FSA ID (one for student and separate one for parent/guardian); keep track of this ID & password for future years!
Colleges often have priority deadlines for FAFSA submission. Check with the college of your choice!
Students & parents need to submit the FAFSA every year that the student is in college.
Colleges typically set Priority Deadlines for students to complete the FAFSA. These are NOT drop-dead deadlines after which the college will not accept your FAFSA; rather, they are dates by which the college would prefer to have your FAFSA on file, so that they can allocate their limited financial aid award money in a timely manner. You have the best chance of receiving college financial aid if you submit the FAFSA by their Priority Deadline, and the best chance of receiving Grant $ from the federal government if you complete your FAFSA as soon as possible after Oct. 1 each year.
FAFSA & Related Sites
- FAFSA site
- FAFSA Forecaster: Estimate Your Aid (can do this BEFORE senior year)
- NM Educational Assistance FAFSA Help Site
- How Financial Aid is Calculated
FAFSA Videos
- FAFSA: Determining Your Dependency Status
- After the FAFSA: What Happens Next
- Making a Budget
- Responsible Borrowing
CSS Profile
The CSS Profile is an online application used by colleges and scholarship programs to award Institutional (their own) aid.