How To Submit Your CSS Profile With Estimated Income Tax Information, And Update It
If you are one of the parents who had to submit estimated tax and income information on the CSS Profile college aid form to meet deadlines at the colleges your child has applied to, this is what you need to do to update that information in a timely and accurate manner so that the colleges can make an official aid award to your child.
According to Susan McCrackin, the College Board’s Senior Director of Financial Aid Methodology:
“It’s common for students and parents to update the CSS/Financial Aid PROFILE after its been submitted, and colleges and universities have practices in place to process these changes. Colleges and universities provide institution-specific guidelines and instructions for making changes to the CSS/Financial Aid PROFILE after it’s been submitted.
Some colleges and universities use the College Board’s Institutional Documentation Service (IDOC) to centralize the information needed to assess the CSS/Financial Aid PROFILE. If an institution uses IDOC, students and parents should make sure to submit changes to the CSS/Financial Aid PROFILE through IDOC. Institutions that don’t use IDOC will communicate to students and parents directly about how to update the CSS/Financial Aid PROFILE and when.
It’s important that students and parents be aware of institution-specific deadlines and instructions for submitting changes to the CSS/Financial Aid PROFILE as it varies by school. Students and parents should check with individual institutions for more information. For general questions, students and parents can e-mail the College Board at help@cssprofile.org or call (305) 829-9793.”
Here is the link to the CSS Profile section of College Board’s website.
Now, one big suggestion from me – don’t delay in getting your taxes done! I’ll say it again. Do not delay in getting your taxes done! If you’re that family that always files an extension, get over it if you want financial aid. If you MUST file an extension or your taxes are delayed for some very good reason, then you need to explain that directly to the colleges.
Troy Onink is the CEO of Stratagee.com where he provides advice to parents seeking their best strategy to pay for college so they can preserve assets and income for retirement.
