Just as NFL teams gear up for the big season, it’s time for you to hit training camp for the FAFSA and CSS Profile. Here’s your preseason plan to get in financial aid shape before the December 1st kickoff for the 2025-2026 FAFSA.
Note: The FAFSA typically opens on October 1st. However, given the fallout and continued glitches from the large-scale changes last year, the Department of Education has announced that the FAFSA will be open to all by December 1st. A beta testing period will begin on October 1st with a select group of volunteers (individuals and institutions).
Training Camp Opens
- Document Drills: Collect 2023 tax returns, W-2s, and your most recent non-retirement financial statements. It’s like running laps but with paperwork. You might loathe the process, but it’s crucial to start getting into shape for the financial aid season.
- FAFSA has a new mandatory DDX (IRS Direct Data Exchange), automatically importing your income into the application. Still, you will want to double-check that the info is correct. Remember, FAFSA looks at prior-prior year income, so this year’s FAFSA covers school year 2025 and will assess 2023 income.
- You will also need these documents—plus, potentially, retirement accounts, home equity amount, and more if you are filling out the CSS Profile (opens October 1st)
- Roster Review: Scout out which schools your rookie (aka your kid) is eyeing. Verify which ones require the CSS Profile in addition to the FAFSA. Think of the CSS Profile prep as your special teams practice—oft overlooked, but crucial to success.
- Playbook Planning: Make a concentrated effort to understand the financial formulas. Meet with a college planning expert to determine if it’s worth reducing your SAI.
Preseason Practices
- Playbook Study: Review the FAFSA and CSS Profile websites. It’s like memorizing those complex plays but with more acronyms.
- Have you run through the playbook with your coordinator yet? If not, consider meeting with a college funding coach to determine whether you should maximize need-based aid or focus on merit aid and cash efficiency strategies.
- Special Teams & Trick Play Strategy: In addition to preparing for the CSS Profile, begin organizing a potential financial aid rebuttal. Start organizing your argument for more aid based on any unique financial circumstances. For example, is your 2023 income not an accurate representation of what your family currently makes?
- Team Huddle: Have a family meeting to assign roles. Who’s the quarterback? That is, who is going to execute this process? Who’s the coach or coordinator? This person will develop the big-picture plan and oversee the vision to maximize need-based aid. And finally, what is the student’s responsibility in this process?
Exhibition Games
- Equipment Check: Double-check all your documents. It’s like inspecting your gear before the first preseason game.
- Joint Practice + Preseason Games: Complete a practice run of the applications. Think of these practice runs as your preseason games—a chance to work out the kinks and see what you’re up against.
- Film Review: Go over your practice applications. What needs improvement? What is confusing you? Where are you fumbling the financial ball?
Regular Season Kickoff for Financial Aid
- Home Opener: It’s game time for the CSS Profile! The financial aid regular season begins on October 1, 2024!
- Late Season Rivalry: After dealing with the more troublesome CSS Profile, you are in mid-season form and ready to take on the FAFSA. Keep track of FAFSA schedule updates and submit it as soon as you can once it is fully available. Currently, the Department of Education is planning to have the FAFSA available for everyone by December 1st.
- Season Adjustments: Take your time, review everything, and submit when ready. No need for a desperation Hail Mary here!
Playoffs
- Closer Film Review: Check Your FAFSA Status and ensure it has been processed. Once processed, the student’s account should receive the FAFSA Submission Summary.
- Gameplan for Your Specific Opponent: Prepare your financial aid appeals for each college, even before you receive their financial aid package! Additionally, make sure to let each college financial aid office know if you made a mistake on the financial section of the FAFSA or if your income from the prior-prior year does not reflect your current situation.
- Bonus tip: Depending on the school, you might be able to leverage a financial aid offer from one college to get more from another.
Two types of appeals:
- Professional judgment is an official process where the school’s financial aid office can formally adjust your aid package based on specific extenuating circumstances.
- A merit-based appeal is more of a grey-area situation that usually goes through the admissions office. This type of appeal is more likely to be successful at private schools, where there is more financial wiggle room.
Final Thoughts
Preparing for and filling out financial aid forms on top of college applications can feel like a long, grueling season. But with this training regimen, you’ll be in top form to tackle these challenges!
Stay focused, hit those deadlines, and don’t hesitate to call a timeout to consult with a college funding coach if you need help. Now get out there and win that financial aid Super Bowl!
P.S. We have two free virtual events coming up to help you win the financial aid game:
October 1: Decoding the CSS Profile
October 17: College Financial Aid – Know the Rules
Seats are capped, so make sure to register now!
Author:
Schedule a free consultation with Theresa to discuss your college savings and financial aid strategies today!
Further Reading;
10 Items You Should Research Before Ever Committing To A College
Beginning in 2024, 529 Plans Can Fund College and Retirement
The Top 15 Most Affordable State Colleges for High-Performing Students