It’s that time of year, seniors, when we’re busy filling out the Common App or Coalition App and applying to colleges. Most of us know we need to apply to college, but what about financial aid? This is different from scholarships. Many schools offer need-based scholarships to help cover education costs, and the government provides additional aid like Pell Grants.

To access these funds, you must apply for financial aid and meet each school’s deadlines. If you’ve applied early, double-check that your financial aid information has been received. In this article, we’ll focus on three major types of financial aid: the Free Application for Federal Student Aid (FAFSA), the Tuition Assistance Program (TAP), and the CSS Profile.

Free Application for Federal Student Aid (FAFSA)

FAFSA is necessary for federal student aid, including grants, work-study programs, and loans. Many schools, including all SUNY and CUNY schools, require you to complete the FAFSA. If you’re unsure, look up your college to confirm whether it’s needed. Many scholarships also use FAFSA to verify eligibility.

Each year, FAFSA provides more than $111 billion in federal student aid. The amount you receive depends on your financial need, with the average award ranging from $5,000 to $8,000.

Eligibility Requirements:

• Demonstrate financial need (for need-based aid).
• Be a U.S. citizen or an eligible non-citizen.

Filling out the FAFSA usually takes less than an hour. You’ll answer questions to determine eligibility for federal aid. You can list up to 20 schools to receive your FAFSA information, which helps them calculate your aid package.

What You’ll Need:

• Your Social Security Number
• Federal income tax returns; records of child support received; and your current balance of cash, savings, and checking accounts
• Bank statements and records of investments (if applicable)
• Records of net worth of investments, businesses, and farms
• Records of untaxed income (if applicable)
• A list of schools you’re considering applying to.

If you’re a dependent student, then your parent(s) will need most of the above information.

Start by creating an FSA ID, which acts as your FAFSA account. From there, the process is straightforward, with step-by-step instructions provided.

Register here: https://studentaid.gov/fsa-id/create-account/launch

Important Update:
FAFSA is open now and ready to fill out. While the form has received criticism for being unreliable and difficult, online resources can help guide you through it. Make sure you don’t procrastinate and begin gathering these documents. This article doesn’t have all of the answers, so make sure you make good use of the internet. 

TAP (Tuition Assistance Program)

TAP is one of the nation’s largest need-based financial aid programs, offering over $830 million in grants annually. These funds do not need to be repaid, making TAP an excellent resource for students attending college in New York State.

Eligibility Requirements:

• Be a legal resident of New York State for at least 12 months.
• Be a U.S. citizen or eligible non-citizen.
• Graduate from a U.S. high school or have a GED.
• Enroll in a full-time (12+ credits) or qualifying part-time program.
• Maintain at least a “C” average.

Income Limits:
Families with a New York State taxable income of $125,000 or less can qualify. Awards range from $1,000 to $5,665 annually, with the average award being about $3,380.

How to Apply:
The easiest way is through FAFSA. Once you submit your FAFSA, you can link directly to the TAP application.

CSS Profile

The CSS Profile, managed by the College Board, is used by about 270 institutions for non-federal institutional aid. Selective colleges with large endowments, such as Ivy League schools, often require this form. Schools like SUNY and CUNY do not.

If the colleges you’re applying to require the CSS Profile, make sure you complete it. If you’re unsure, a quick google search can get you your answer. 

How to Apply:

• Use your existing College Board account (if you’ve taken the SAT, AP, or PSAT).
• Gather similar documents as those needed for FAFSA, such as tax records and W-2 forms.
• Submit the form online. The first institution costs $25, and each additional school costs $16. However, if you demonstrate financial aid, you can have all your costs waived.

After submission, you’ll receive login to upload additional documents through the Institutional Documentation Service. Processing typically takes 3-5 business days.

Conclusion
For most students, you will only need to fill out FAFSA and TAP. Students applying to selective colleges may need the CSS Profile. Remember, TAP is only for students who plan on attending college in New York State.

This brief guide provides a general overview. Make sure to visit each website for detailed instructions. Most importantly, stay on top of deadlines and understand that you have to reapply for financial aid every year, as awards may change based on your family’s income.

This article simplified the process and didn’t include every single situation or answer. Make sure you make good use of the internet if you have any questions. Additionally, do NOT procrastinate on this. 

Good luck, seniors! Congratulations on making it this far. I’m so proud of all of us!