Good Form: FAFSA & CSS Profile Explained

Join host Ian Fisher for timely conversations celebrating the launch of this year's financial aid application season.

First, he welcomes finance expert Jennifer Wilcox for a discussion on FAFSA: Do We or Don't We Complete It? Jennifer provides a practical overview of the Free Application for Federal Student Aid and explains its role in determining eligibility for federal, state, and institutional financial aid. She addresses a question many families ask: Is it worth completing the FAFSA if you believe you won't qualify for need-based aid? Jennifer explains why the answer is often yes, noting that many colleges use FAFSA information when awarding institutional aid and that even higher-income families may qualify for certain forms of assistance, particularly at colleges with high costs of attendance. She also discusses how the streamlined form can often be completed in about 15 minutes, making it a worthwhile investment of time for many families.

Next, finance expert Laurie Peltier dives into the CSS Profile, the additional financial aid application required by many private colleges and universities. Laurie explains why some institutions ask for more detailed financial information than the FAFSA provides and how colleges use that information when distributing their own institutional funds. She highlights key differences between the two applications, including the CSS Profile's consideration of assets such as home equity, and discusses what families should know before beginning the process.

Finally, College Coach Kennon Dick breaks down the National Merit Scholarship Program, one of the most well-known academic recognition programs for high school students. Kennon explains the timeline from the PSAT/NMSQT through semifinalist and finalist consideration, how qualifying scores factor into eligibility, and the steps students must take to advance in the competition. He also explores what National Merit recognition means in the college admissions landscape.