Colleges use this form to determine a student's eligibility for their institutional aid. Each college sets their own deadline for when the Profile form is needed. To check to see if a certain college requires the Profile Form you can call the financial aid office of the school you are applying to or check the College Board's internet site at collegeboard.org. The College Board produces the Profile Form. Most likely you need to fill it out every year, but you might want to check with the Financial Aid office of her school to see if they require it every year.
Some schools just require it the first year.
If that parent has remarried, the stepparent's information must also be included on the form. In some special cases, a college may ask an independent student to provide parental information on the Profile form. However, due to the special circumstances involved, you should also write a letter explaining the stipulation and send the letter to the Director of Financial Aid at the schools to which you are applying. They will determine if the value of the home should be included when determining your financial need. The equity on a home is not considered for the purposes of determining eligibility for federal student aid, therefore the question is not asked on the federal form.