Financial Aid FAQ

  1. Whose information should be included on the FAFSA and CSS/PROFILE?

     

    If the student is dependent per Federal guidelines, the application questions pertain to the student and her custodial parent(s).

    If the student's biological parents are divorced (or were never married), you must determine who is the custodial parent. Typically, this is the parent with whom the student resides. The other parent is considered non-custodial, and should complete the Non-Custodial Parent CSS/PROFILE application. In rare circumstances the need for the Non-Custodial PROFILE application can be waived. To apply for a waiver of the Non-Custodial PROFILE requirement, complete Saint Mary's Non-Custodial PROFILE Waiver application (Word Doc).

    If the student does not reside with either parent, the parent who provides more than 50% of her financial support is classified as the custodial parent.The other parent is considered non-custodial.

    Step-parents must be included as part of the applicable parent's household, and their income and tax information must be reported accordingly.

    If the student is independent per Federal guidelines, the application questions pertain only to the student (and her spouse, if applicable). Parental information is not reported for independent students.

  2. Information Typically Needed to Apply for Aid

     

    • Federal income tax returns and any W2 or K-1 forms for the base tax year. The base tax year is the calendar year prior to the start of the academic term. For the 2012-13 school year, use 2011 tax information. If your 2011 taxes have not been completed yet, use estimated information at this time.


    • Information regarding the current market value and debt owed on:
      • any investments (stocks, bonds, trusts, etc.)
      • any business(es) or farm owned by the family
      • the primary residence of the family
      • any other real estate holdings

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    • The current value of cash on-hand and the current balance of any bank accounts (checking, savings, money market, etc.)
    • Federal PIN numbers for the student and the parent
    • Free Application for Federal Student Aid (FAFSA) school code: 001836
    • CSS/PROFILE application school code: 1702
    • For the CSS/PROFILE: Value and source of any retirement benefits
    • Special circumstances form (Word Doc), if applicable