We understand that applying for financial aid can be confusing.
If you have any questions after reviewing the information below, contact us. We're happy to help!
- The PROFILE is used to determine eligibility for need based financial aid from Mount Holyoke. If you are applying for federal aid only you do not need to file the PROFILE. (See FAFSA, below.)
- File the CollegeBoard PROFILE online. (School code: 3529.)
- To meet our priority deadline you may complete the PROFILE using estimated income. (Financial aid eligibility may change after a review of the finalized tax return.)
- The Noncustodial PROFILE is required of students whose biological or adoptive parents are not married to each other and are living separately. After submitting the PROFILE, if a noncustodial PROFILE is required, the CollegeBoard will email the student with instructions on filing the form. (NOTE: We require the noncustodial parent to submit the noncustodial PROFILE as well as federal tax forms even if no support was received from the noncustodial parent.) If biological/adoptive parents are living together (whether married or not), financial information for both parents should be included on the PROFILE.
- The FAFSA is used to determine eligibility for federal financial aid including grant and loan assistance. (If you are applying for federal aid only you do not need to file the PROFILE.)
- File the FAFSA online. (School Code: 002192.) The 2016-17 FAFSA is available starting January 1, 2016.
- To meet our priority deadline you may complete the FAFSA using estimated income. (Financial aid eligibility may change after a review of the finalized tax return.)
IRS Data Retrieval Tool Option (DRT)
To expedite the application process we recommend that students chose the DRT option to automatically transfer student and/or parent tax information directly from the IRS into your FAFSA. To use this option, file the FAFSA at least two weeks after filing tax returns electronically with the IRS; six weeks if taxes were filed via paper. If the FAFSA has already been filed but the DRT was not used, students may return to the FAFSA and select the DRT option. (Students should keep in mind our priority deadline.) View a brief IRS Data Retrieval tutorial with step-by-step instructions.
Note: If you filed your FAFSA it will not show as received on Financial Aid Online until after February 10, 2016 when we are able to load FAFSAs into our system.
3. Parent and Student Federal Tax Returns
- The 2015 federal tax return, all schedules, & all W-2s are required. If the student or student's parents own any corporations, partnerships or trusts, copies of those returns are required (Forms 1041, 1065, 1120, 1120S, K-1).
- Upload all tax forms directly to the College Board's Institutional Documentation Service, IDOC. (File the PROFILE first. After filing students will receive a notice from the College Board with IDOC information. Click here for IDOC's Frequently asked Questions sheet: IDOC FAQ or here to view an IDOC video tutorial)
- Early Decision candidates should send most recently filed federal tax returns directly to our office as IDOC is not available until early February. Final 2015 federal returns should be sent to IDOC by April 15th.
- Noncustodial parent 2015 federal tax returns, all schedules and W-2s are required if the Noncustodial PROFILE is required.