I filed the CSS (and bio Dad the NCP) in October and the FAFSA on January 2nd. When can we expect financial aid letters from the early app schools where D has already been accepted?
It all depends on the school, so check with each of them. One EA school where my D was accepted says they will come out late January/early February. Another won’t come out until the end of March/early April.
Also, check with the school for which you did the CSS. They will want you to update it, likely manually.
Suzy100
Schools have different ways of dealing with updating the Profile. Some do NOT want you to do anything at all. They can update the incime and to information based on what you put on the FAFSA by using the IRS Data Retrieval Tool. Some schools use IDOC, and your documents are sent to IDOC. Some schools will want you to manually update (but in my opinion, these are now in the minority).
So to the OP, just contact the colleges and see what, if anything, they want you to do about updating the Profile.
Re: when will the awards come? These are early acceptance admits, right? You don’t have to make a matriculation decision until May 1. You will have your awards in time to make that matriculation decision.
In the meantime…check to be sure that you have submitted everything each school requires.
I’m having difficulty finding finaid info. On the portals for which D has received pins they list apps, recommendations letters, etc. but nothing about Profiles or FAFSA. I’m lucky in that the estimated Profile I did in October was off by only $1500 net business income, all other numbers being even closer, not sure it warrants updating. We were hoping to have some of the finaid packages before March 1st to make plans for visiting if affordable, that’s really why I asked.
NEPatsGirl…if the schools want updated info…you must update. You don’t get to decide if your change “warrants updating”. It will need to be done if the school says so…because those numbers on your October Profile are NOT the ones reflected on your 2014 tax return.
And it sounds like you own a business…is that correct? If so, you could be asked to submit the business supplement. And some of your allowable IRS business deductions could be added back as income for financial,aid purposes.
But back to your question…you can contact the financial aid offices at the schools…and inquire when awards will be sent. They will tell you.
Here is one for you:
And here is Ithaca:
Thanks thumper1. I have no issue with updating if they want, just figured the small amounts didn’t make sense, never occurred to me that they would require it if it was in my favor. There are at least two schools on the list that require the business supplement (its on my to do list for tonight) by February 1st. Ugg.
It doesn’t matter if the numbers are in your favor…or the college’s favor. At the end…the numbers on the financial aid forms must match those on your tax return.
Thank you. Our CPA will be completing our 1040 next week and I’ll update everything then.