TIP OF THE WEEK - September 28

QUESTION - What is the major difference between the FAFSA & the PROFILE?:
FAFSA data gets processed using the Federal Methodology and determines your eligibility for FEDERAL Student Aid. PROFILE data gets processed using both the Federal & Institutional Methodologies and helps (pricier) schools estimate your eligibility for federal aid, and decide whether to give you additional institutional resources. To help schools make this determination, PROFILE schools ask for much more information than FAFSA schools. For example, you must report your family income for the past 2 years, the amount of equity in your home, etc... It's good to know in advance what schools you may be looking at so that you can prepare for what questions the school may be asking.