Financial Aid Season Opens: What Families Need to Know About FAFSA & CSS (2026 edition)

Welcome to financial aid season! With the many moving parts of the college admissions process, it can be easy to overlook one crucial element: financial fit. Financial aid applications like the FAFSA and CSS Profile are key aspects of seniors’ journeys to best-fit, financially feasible colleges.

What is FAFSA?

The Free Application for Federal Financial Aid (better known as the FAFSA) is the bread and butter of financial aid projections. The FAFSA form opens for students and families to fill out every October 1st (coinciding with November early admission deadlines at many universities). The FAFSA utilizes tax return data and other contextual information on student and guardian financial status in order to calculate a family’s ability to pay. Filling out the FAFSA is required to be eligible for need-based financial aid awards, as well as to receive federal student loans.

What is the CSS Profile?

In addition to the FAFSA, a smaller number of colleges also require the College Scholarship Service (CSS) Profile in their financial aid process. This online aid application, operated through the College Board, allows students to apply for institutional (college-specific) financial support. The CSS Profile asks for much more detailed information on assets and family contexts, in addition to the data collected through the FAFSA. All students and families should view the financial aid website of each school for their requirements and check the full list of CSS schools.

Completing the FAFSA and CSS Profile

When applying for financial aid, families should be prepared with the litany of financial data, information, and context needed. See this FAFSA checklist to get started.

It’s crucial to ensure that your student is not only prepared for the impending early application period, but also has a clear understanding of the financial implications of every college on their list. Early Decision applicants should have a solid idea of what the price tag will be should they be admitted. While providing a significant boost to your student’s chances of admission, binding Early Decision rounds require a family-wide understanding of the financial responsibilities attached to that commitment. 

Next Steps

Financial aid applications open by October 1, and college-specific priority deadlines close throughout fall and winter. Now is a great time to make a plan to apply for financial aid, review each college’s requirements, and begin gathering the necessary financial information!

We encourage families to begin the college list-building process with financial considerations in mind, preferably earlier in students’ high school journeys rather than as senior-year deadlines approach. Feeling overwhelmed? Galin counselors guide our families through building best-fit college lists while considering academic, community, and financial factors.