FAFSA and CSS Profile, BAH and Housing Costs
FAFSA and CSS Profile, BAH and Housing Costs
Transcript
In addition to VA educational benefits student veterans may use grants, scholarships, work-study jobs, and loans. In order to access federal financial aid, including Pell grants, work-study, and federal loans, a student veteran must complete the Free Application for Federal Student Aid, or FAFSA.
Many schools use the financial information provided on the FAFSA to award institutional grants or scholarships. The federal website, studentaid.gov, has a wealth of information about federal, and other aid programs, and about completing the FAFSA.
The FAFSA was simplified recently, but still takes time and effort to complete. After creating a FSA ID on the website, fsaid.ed.gov, student veterans will need to have the following information in order to complete the FAFSA, Social Security number, driver's license, federal income tax returns, and W-2s from the prior prior year, for example, information from 2019 for the 2021- 2022 application, bank statements and records of other investments and untaxed income.
Student veterans should check the box on veteran status, in the dependency status section, which ensures they will be characterized as independent students, and don't need to supply financial information from their parents. Note that the FAFSA needs to be completed every year that a student veteran is enrolled. The FAFSA can also be updated if the student veterans financial situation changes, which may result in updated financial aid awards.
In addition to the FAFSA, over 200 schools require students to complete the CSS profile, as part of their financial aid process. The CSS profile is a private survey that is used primarily for the purpose of awarding institutional aid, as opposed to federal aid. In general, the CSS profile asks for more information than the FAFSA, in order to provide colleges or universities with a fuller picture of the factors that influence the student's ability to afford college.
The cost of housing and food are two major financial stressors, beyond covering tuition and fees. It is crucial to explain clearly to the student veteran, whether there are on campus housing options and/or board plans they can take advantage of. And how financial aid will, or will not, cover the cost of those options.
Being able to share accurate information about the relative cost of on campus housing and board plans, compared to housing and food costs in the community, will help each student veteran make the best choice about where to live.
A student veteran living on campus, who is receiving a monthly housing allowance, MHA, as part of their post 9/11 G.I. bill benefits, should understand how much of that benefit they are expected to use to pay the school for room and board. This is especially important because of the fact that MHA is only provided while classes are in session, so student veterans will need to plan to cover housing and food expenses during school breaks.
Many schools use the financial information provided on the FAFSA to award institutional grants or scholarships. The federal website, studentaid.gov, has a wealth of information about federal, and other aid programs, and about completing the FAFSA.
The FAFSA was simplified recently, but still takes time and effort to complete. After creating a FSA ID on the website, fsaid.ed.gov, student veterans will need to have the following information in order to complete the FAFSA, Social Security number, driver's license, federal income tax returns, and W-2s from the prior prior year, for example, information from 2019 for the 2021- 2022 application, bank statements and records of other investments and untaxed income.
Student veterans should check the box on veteran status, in the dependency status section, which ensures they will be characterized as independent students, and don't need to supply financial information from their parents. Note that the FAFSA needs to be completed every year that a student veteran is enrolled. The FAFSA can also be updated if the student veterans financial situation changes, which may result in updated financial aid awards.
In addition to the FAFSA, over 200 schools require students to complete the CSS profile, as part of their financial aid process. The CSS profile is a private survey that is used primarily for the purpose of awarding institutional aid, as opposed to federal aid. In general, the CSS profile asks for more information than the FAFSA, in order to provide colleges or universities with a fuller picture of the factors that influence the student's ability to afford college.
The cost of housing and food are two major financial stressors, beyond covering tuition and fees. It is crucial to explain clearly to the student veteran, whether there are on campus housing options and/or board plans they can take advantage of. And how financial aid will, or will not, cover the cost of those options.
Being able to share accurate information about the relative cost of on campus housing and board plans, compared to housing and food costs in the community, will help each student veteran make the best choice about where to live.
A student veteran living on campus, who is receiving a monthly housing allowance, MHA, as part of their post 9/11 G.I. bill benefits, should understand how much of that benefit they are expected to use to pay the school for room and board. This is especially important because of the fact that MHA is only provided while classes are in session, so student veterans will need to plan to cover housing and food expenses during school breaks.