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Other Financial Aid
Applications |
While all applicants for federal financial aid must complete
the FAFSA, some colleges or scholarship organizations
require students to complete additional applications to be
considered for non-federal forms of financial aid.
The
most common form in this category is the College Scholarship
Service's Profile application. This form is used by many private colleges and
universities and provides an early planning and more
in-depth financial reporting tool from which schools make
awards of institutionally controlled funds.
The
Profile form is a fee-based form. Applicants must pay a $6 registration fee and $16 per
school that you would like your Profile data sent to.
The
Profile asks more detailed questions (than the FAFSA) about
a family's income and assets and provides the information
schools need to calculate an Institutional Methodology
Expected Family Contribution (IM EFC). The IM EFC is used by these colleges and universities
to allocate aid programs funded directly by the Institution. The Profile form also is available for processing
slightly earlier in the financial aid cycle (than the FAFSA).
You
can learn more about the Profile, including what schools
require aid applicants to complete the Profile, at The
College Board's website.
See
also: FAFSA
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