Incoming freshman may also need to complete the CSS Profile Application.
Many Private colleges require the profile.
Well, it gives financial aid administrators a broader set of data from which to derive your eligibility for institutional need-based assistance. Check with you college to see if you are required to complete the Profile. Generally, the Profile application becomes available in the middle of October. The formula the Department of Education uses to compute your EFC is called Federal Methodology. The EFC is basically what the government is telling us how much you should be able to contribute toward education based on your state of residence, household size, number in college and student and parent income and asset information.