Freshman College Counseling Blog | The Dunham School | Private PreK-12 | Baton Rouge, LA

Navigating Financial Aid: Your Guide to the FAFSA, CSS Profile, and Scholarships

September 2025

September marks a critical time for high school seniors and families, not just for academics and college applications, but for understanding and preparing for financial aid. Securing the necessary funds to make college a reality can seem daunting, but with a clear understanding of the process and timely action, you can confidently navigate the path ahead.

This guide will help you understand the essential steps for the upcoming financial aid season, focusing on the Free Application for Federal Student Aid (FAFSA), the CSS Profile, and scholarship opportunities.

The FAFSA: Your Gateway to Federal Aid

The Free Application for Federal Student Aid (FAFSA) is the single most important form for determining your eligibility for federal and, often, state and institutional financial aid. This includes grants, scholarships, work-study programs, and federal student loans.

Key Point: The FAFSA typically opens on October 1st. While the deadline for submitting the FAFSA is much later, it is highly recommended that you complete it as close to the opening date as possible. Why? Because some federal and state aid is awarded on a first-come, first-served basis, and by filing early, you maximize your chances of receiving the most aid you qualify for.

What You'll Need to Gather (Start Now!):

Before you sit down to fill out the FAFSA, gather these important documents. Having them ready will significantly streamline the process:

• Student and Parent Social Security Numbers (SSN): Make sure these are accurate.
• Student and Parent Federal Income Tax Returns: You'll typically use tax information from two years prior to the academic year you're applying to. For the 2026-2027 academic year, you will use your 2024 tax information.
• W-2 Forms and other records of money earned.
• Records of untaxed income: This could include child support received, interest income, and veterans' non-education benefits.
• Information on cash, savings, and checking account balances.
• Information on investments: This includes real estate (excluding your primary residence), stocks, bonds, and other investment accounts.
• Information on business and farm assets (if applicable).
• Your (the student's) driver's license number (if you have one).
• Your (the student's) Alien Registration Number (if you are not a U.S. citizen).

The CSS Profile: For Institutional Aid at Specific Colleges

While the FAFSA covers federal aid, many private colleges and universities, and some public institutions, require an additional application called the CSS Profile. This form is administered by the College Board (the same organization that produces the SAT). Check with the individual university to see if it requires the CSS Profile.

Key Differences from FAFSA:

• Purpose: The CSS Profile is used by colleges to determine your eligibility for their institutional aid (grants, scholarships, and loans funded directly by the college). It provides a more detailed picture of your family's financial situation than the FAFSA.
• Cost: Unlike the free FAFSA, there is a fee to submit the CSS Profile ($25 for the first school, and $16 for each additional school). However, fee waivers are available for eligible students with demonstrated financial need.
• Depth of Information: The CSS Profile delves deeper into family finances, often asking for details on:
  • Home equity (the value of your primary residence minus what you owe on it).
  • Small business net worth (regardless of size).
  • Non-custodial parent information (for students whose parents are divorced or separated, both parents may be required to complete a separate CSS Profile).
  • Medical or other unusual expenses.
• Opening Date: Like the FAFSA, the CSS Profile typically opens on October 1st for the upcoming academic year.
• Deadlines: CSS Profile deadlines are college-specific and often align with application deadlines (Early Decision, Early Action, Regular Decision). It's crucial to check the financial aid pages of each college you're applying to for their specific CSS Profile requirements and deadlines.

Who Needs to Complete the CSS Profile?

You only need to complete the CSS Profile if one or more of the colleges on your list require it. You can find a list of participating institutions on the College Board's CSS Profile website. If a college requires the CSS Profile, you must submit both the FAFSA and the CSS Profile to be considered for all available aid from that institution.
 

Understanding Key Financial Aid Terms

Familiarize yourself with this basic vocabulary to better understand your aid offers:

• Student Aid Index (SAI): The SAI is an index number that schools use to determine how much federal student aid you are eligible to receive. It is not the amount of money your family will have to pay for college.
• Grants: Often called "gift aid," grants are financial aid that does not have to be repaid. They are typically awarded based on financial need.
• Scholarships: Like grants, scholarships do not have to be repaid. They can be awarded based on merit (academic achievement, talent), need, specific characteristics, or a combination.
• Loans: Money borrowed for college that must be repaid with interest. Federal student loans typically offer more favorable terms than private loans.
• Work-Study: A federal program that provides part-time jobs for students, allowing them to earn money to help pay for educational expenses.
   

Scholarship Search Strategies: Beyond the FAFSA & CCS Profile

While the FAFSA and CSS Profile are crucial for need-based aid, scholarships are your avenue to "free money" from various other sources. Naviance is an excellent place to start your scholarship hunt!

• Start Local: This is often your best bet for success!
  • Community Organizations: Look into local businesses, civic groups (e.g., Rotary, Lions Clubs), churches, and alumni association
  • Parents' Employers: Many companies offer scholarships for employees' children.
• Leverage Naviance's Scholarship Tools
  • Scholarship List: Explore scholarshps that your counselors have directly posted or curated for Dunham students.
  • Scholarship Match: Naviance can match you with scholarships based on your profile information (GPA, interests, activities).
  • National Scholarship Search: Use Naviance's comprehensive database to search for national scholarships that align with your criteria.
• Expand Your Search Online (Use Caution!): Reputable national scholarship search engines include Fastweb, Scholarship.com, and BigFuture (from College Board).
• Beware of Scams: Never pay money for a scholarship or scholarship search services. Legitimate scholarships do not require a fee.

Next Steps:

1. Gather Your Documents: Start compiling all the necessary financial information for both the FAFSA and, if required by your colleges, the CSS Profile now.
2. Mark Your Calendar: Set a reminder for October 1st to begin both the FAFSA application and any necessary CSS Profiles.
3. Check College Requirements: Carefully review the financial aid pages of every college on your list to determine if they require the CSS Profile and to note their specific deadlines.
4. Explore Naviance: Spend time in Naviance's "Colleges" > "Scholarships" section to begin your scholarship search.
5. Connect with Counselors: Schedule a meeting with your counselor to discuss your financial aid questions and strategies.

By taking these proactive steps, you'll be well on your way to making informed decisions about financing your higher education and confidently pursuing your post-secondary goals.