<p>hi…
Since this is our first going to college… this is all new to me… For Boston College, they asked for the FASFA, CSS, 2009 taxes, 2010 taxes, since we own our business we had to fill out a Business Profit and Loss forms… which was complicated. Is this normal for most colleges? Just seems like some people submit just a FASFA to college.
Also, my sons top schools Boston and Uof Michigan along with his 3 or 4th choices all required the CSS form… Our EFC was very low this year 2800… does anyone now how to figure out estimates using CSS… I am worried since we own property that we put on the CSS form …but it not like I could go out and sell that property today in this market.
I am nervous that none of his top choices are going to give us enough aid…</p>
<p>Most colleges only require FAFSA but it seems your S did not want to apply to them…only around 300 schools use Profile. College Board does have an estimator for the IM EFC, though schools are essentially using Profile as a data collection tool and set their own policies regarding property, retirement accounts, business assets, etc. Is the property separate from your primary residence? If so, I’m afraid neither FAFSA nor Profile will be very understanding of the fact that it may be difficult to sell. The fact that your FAFSA EFC was so low will make him eligible for some federal aid though and will likely put him in line for decent institutional aid at one or more of the colleges he chose. If not, there are always your instate publics. Does your S understand what the budget figures are and is he happy with his financial safety?</p>