FAQ: CSS and No Loan Threshold

CSS Profile

How was the 75% on free and reduced lunch figure chosen?

That is the percentage at which the government classifies a school as having a “high poverty” student population and for whom this initiative is designed.

What does this announcement mean for students who qualify for free and reduced lunch but do not attend a high poverty school?

The CSS Profile will still be waived if students make that status known in the admissions process. The only financial aid application that the student needs to submit annually is the Free Application for Federal Student Aid (FAFSA).*

Are currently enrolled students who graduated from a high poverty high school eligible for the waiver of filing the CSS Profile?

Yes.

Do I need to present any documentation to benefit from this new policy?

The Office of Financial Aid has a list of schools classified as “high poverty” from the federal government (as of Fall 2018) and will use this information to proactively waive the CSS Profile requirement for the 2022-23 year and following. However, if a student believes that he/she came from a high poverty school but is still being asked to complete the CSS Profile, that student should contact the Office of Financial Aid to reconcile any conflicting data.

If I qualify for this initiative based on my high school, will I still have to submit tax returns to complete my financial aid file?

Only if your FAFSA is selected for federal verification by the U.S. Department of Education. The Office of Financial Aid will notify you if such documents are required.

By what date do I need to have my FAFSA completed?

Please visit here: https://admissions.lafayette.edu/financial-aid/apply-for-aid/

No Loan Threshold

Who may be eligible?

New students entering Lafayette in fall 2022.

Must I apply for financial aid to be considered?

Yes, students must complete the full financial aid process. Please review these requirements at https://admissions.lafayette.edu/financial-aid/apply-for-aid/.

Why are returning students not eligible?

The College is making this decision in response to several key indicators that predict what will occur over the next 10 years in relation to the number of prospective students in our primary geographic market. The Financial Aid Office works to ensure 100% of demonstrated need is met and provides support strategies for students who may graduate with college loan debt. The financial aid team is happy to discuss those strategies with current students.

What is the definition of "total family income" as it relates to this increase in the no-loan income threshold?

  • Total family income is calculated using taxable income, including wages, interest, and business income, plus untaxed income, like child support, social security, and pension distributions. 
  • Business income includes income generated from sole proprietorships, partnerships, corporations, and rental income.
  • Assets include bank accounts, investments, home equity, and business net worth, but do not include retirement savings.
  • Losses are added back into income, including business losses, capital losses, and depreciation on real estate and/or rental property.

What is the definition of "typical assets" as it relates to this increase in the no-loan income threshold?

  • Cash, savings, and checking accounts
  • Investments
  • Equity in your home
  • The net worth of your business
  • Retirement accounts are not considered

Is eligibility for the no-loan program reevaluated each year?

Yes, students must complete the full financial aid process. Please review these requirements at https://admissions.lafayette.edu/financial-aid/apply-for-aid/.

* The Office of Financial Aid reserves the right to request additional documentation to determine eligibility for need-based institutional financial aid.