Last weekend, I met an acquaintance at a local café, and he sighed as he talked about the financial aid paperwork for his high school senior daughter. He had already submitted the FAFSA, but there was another document showing up in red on the school portal. It was the CSS Profile.

I also thought that submitting just the FAFSA was enough for financial aid applications. However, if you're considering private colleges, the situation is a bit different.

First, let's clarify the FAFSA. The FAFSA for the 2027-28 academic year opened before October 1 of this year. According to the U.S. Department of Education, this is the earliest opening ever.

The FAFSA is the document needed to receive federal government aid, such as Pell Grants or federal student loans. Most state universities and state government scholarships also use this as a basis.

The issue arises with scholarships that schools provide from their own funds. Private colleges often offer need-based grants, which can be substantial, but many schools require the CSS Profile to distribute these funds. This is a separate application managed by the College Board.

The CSS Profile for the 2027-28 academic year opened on October 1. Unlike the FAFSA, there isn't a single deadline; each school sets its own, so you need to check each school on your application list individually.

If you're applying early, you need to act quickly. To receive financial aid information along with acceptance notifications, your documents must be submitted around the same time as your application deadline.

There are also costs involved. The FAFSA is free, but the CSS Profile costs $25 for the first school and $16 for each additional school. Sending it to just five schools will cost you $89, so it's not insignificant.

Fortunately, the criteria for fee waivers are quite broad. According to the College Board, applicants living in the U.S. with a family AGI of $100,000 or less can submit it for free. This also applies to those who received an SAT fee waiver or are orphans under 24 years old or court dependents.

The waiver is automatically determined while filling out the application. However, to receive the SAT waiver, you must log in with the College Board account used when taking the SAT, so make sure to keep that in mind.

So, what's the difference between the CSS Profile and the FAFSA? In short, the CSS Profile asks much more detailed questions.

The biggest difference is regarding your home. The FAFSA does not ask about the value of your current residence at all. In contrast, the CSS Profile requires you to provide the purchase price of your home, its current market value, and the remaining mortgage balance.

If you're a Korean family living in an area where home values have significantly increased, you'll likely feel this difference. However, how much home equity is considered varies by school. Some schools don't take it into account at all, while others look at it only up to a certain percentage of income.

Families with small businesses should also pay attention. Starting from the 2026-27 academic year, the FAFSA excludes the assets of family-owned businesses with fewer than 100 full-time employees and family farms from the calculation. This change was made possible by a federal law passed last summer.

However, the CSS Profile specifically asks for business information. This means that families running a store or small company cannot just rely on the FAFSA results.

Divorced or separated families have different requirements as well. The FAFSA only requires information from the parent who has provided more financial support in the last 12 months. The CSS Profile, however, may require income and assets from the non-custodial parent, depending on the school.

In this case, the non-custodial parent must complete a separate profile using their own account. If communication is sparse or the relationship is strained, this can be the most challenging step. If there are circumstances, there is a process to request a waiver from the school, so it's best to contact the financial aid office first.

On the flip side, there are advantages to the CSS Profile. You can include expenses that are not covered by insurance, such as medical bills or private school tuition for siblings, which the FAFSA does not ask about. Having space to explain your financial situation is not a bad thing.

So, which schools require the CSS Profile? The College Board website has a list of participating schools. However, I believe it's more reliable to check each school's financial aid page directly.

Even at the same school, the requirements for freshmen and transfer students may differ, and some schools may require additional tax documents to be submitted through a separate system called IDOC. It's safest to regularly check the school portal checklist.

The required documents overlap significantly with those for the FAFSA. You should have your 2025 tax return, W-2s, bank and investment account balances, and retirement account information ready. You'll also need to add home-related figures and business information.

One tip: make sure to cross-check that the numbers you enter for the FAFSA and CSS Profile match. If you report the same income differently on both documents, the school may request additional verification.

That evening, I received a message from him saying that he and his daughter had completed the CSS Profile together. I couldn't help but laugh when he mentioned they paused for a moment when filling in the home value section.

Due to the high cost of private college tuition, some families give up on applying altogether just by looking at the sticker price. However, the actual amount you pay can vary significantly based on the school's financial aid. The CSS Profile is what calculates that aid.

So, if I were in their shoes and had even one private college on my list, I would definitely submit the CSS Profile. Even if the results are less than expected, the only loss would be the application fee. On the other hand, not submitting it could mean missing out on grants that could have been awarded.

I also recommend running the net price calculator available on each school's website in advance. By entering just a few numbers, you can get an estimate of your actual financial burden.

I hope this article serves as a small checklist for those who thought submitting just the FAFSA was enough. I wish all families applying this year good luck with their deadlines.