I think that’s right too, but OP can call Colby’s FA office to ask what to do.
Hi does anyone happen to know if the deadline for the css profile for Caltech 2024-25 is indeed 1/31? I read somewhere that you don’t need to file css or fafsa with them until admitted. Is that even accurate? I’m still waiting on some financials but I have been getting conflicting info. Thank you
If you have questions, contact the financial aid office. They are there to help you.
@kelsmom Filling out the CSS for the first time and have a question about what to include in “Tax deferred pension and retirement savings plans.”
Husband is a public school teacher and his W-2 has his 403(b) contribution in Box 12, but Box 14 includes an amount classified as “Retirement.” We assume this is the amount that goes into the state teachers retirement system.
Do we report that amount in Box 14?
I am not entirely sure. I did find this on Boston University’s website:
Report tax-deferred contributions to your pension and retirement savings.
Payments to tax-deferred pension and retirement savings plans (paid directly or withheld from earnings) include amounts reported on your W-2 form in box 12a through 12d (codes D, E, F, G, H, and S). The amounts must be reported on your FAFSA and Profile™ as untaxed income. If you overlook reporting this information and are offered financial aid on the basis of that incomplete FAFSA data, we may have to reduce your award later.
My note: That doesn’t include box 14. You can call the helpline or the school to verify.
I emailed them this morning and got my answers. Thank you
What was the answer? Are public pension contributions that are mandatory included?
I called CSS Profile and the representative I spoke to only include amounts reported in Box 12.
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Hi, is there a way to calculate what the non-custodial parent’s financial obligation will be with the CSS? I know my EFC from the FASFA but I would like to try to figure out how much they are going to say my ex has to contribute since we are both not rich people. Do they combine our incomes even though we are divorced? Thank you
@Stacy2654 you have a dedicated thread with your question here.
The answers that you have received on your thread are correct.
Your FAFSA SAI is irrelevant for CSS Profile schools. Profile schools will use all of your financials and the NCP’s financials when calculating the family contribution. They don’t care which adult pays what portion, they don’t care what a divorce decree might say. They will give you one number that the student and their family is expected to pay.
Oops, cross post with @DramaMama2021 !
Thank you! That is not the news I was hoping for we both make under $100k but I have a feeling it is going to be way more than either of us can afford
even though UVA is 100% need based, I think our need will be way more than what they are going to give! This is such a disheartening process for everyone involved…As parents we want to do all we can but they do not take into account any of our expenses
thank you for your response
If you do have a situation where there are very high medical expenses, or something like that, you can ask the FA department for ‘professional judgment’. But that’s not for situations like living in a high cost of living area, or high credit card debt, etc.
Is your student a senior now who is awaiting UVA’s FA package? Have both parents filed their CSS Profile?
If so…just wait and see. I don’t know how UVA weighs the non-custodial parent income. Some schools do this differently than others.
Are either of you parents remarried?