FAFSA Code: 003613
CSS Profile Code: 6660
Apply for aid using the Free Application for Federal Student Aid (FAFSA) and CSS Profile for the upcoming year as soon as possible after they become available on October 1.
- Apply each year that you wish to receive aid.
- Read the directions carefully. Do not skip items you do not understand. For help, call 1-800-4FED-AID (1-800-433-3243) for the FAFSA and 1-305-829-9793 for the Profile. You may also consult your high school guidance counselor or college financial aid office for assistance, or contact the SMU Mane Desk at manedesk@smu.edu or (214) 768-5555.
- Verify that the student's and parent's social security numbers are correct. An error will cause significant delays.
- Dependent students must report parent income and asset information on the FAFSA and Profile. Do not report a grandparent or other relative's information even if you are living with and/or being supported by that person. If you have questions on what parental information needs to be provided on the FAFSA and Profile contact the SMU Mane Desk at manedesk@smu.edu or (214) 768-5555. Additionally, the Profile may require you to provide Non-Custodial Parent information if your custodial parent is divorced or separated.
- Use your Federal Student Aid (FSA) ID to sign the FAFSA and provide consent to retrieve income information from the Internal Revenue Service (IRS) using the Direct Data Exchange process. If either the student or the parent fails to do this, the FAFSA will be rejected, and processing will be delayed.
529 Plans and Coverdell Education Savings Accounts
529 Plan
A 529 plan is a state-operated investment plan designed to help families save for future college costs. All 50 states offer 529 plans. Texas' 529 plan is called Texas Tomorrow Fund.
How to report 529 plans on the FAFSA
- If the parent is the owner of the program, the value is reported on the FAFSA as a parent asset. Note that you should report the value of all programs or plans, not just the one for the student applying for aid. For plans established by someone other than the student's parent, the value of the account is not reported on the FAFSA.
Coverdell Education Savings Accounts
Coverdell accounts are trusts created exclusively to pay the qualified education expenses of the designated beneficiary of the trust.
How to report Coverdell on the FAFSA
- If the parent is the owner of the program, the value is reported on the FAFSA as a parent asset. Note that you should report the value of all programs or plans, not just the one for the student applying for aid. For plans established by someone other than the student's parent, the value of the account is not reported on the FAFSA.
Uniform Gifts to Minors Act (UGMA) and Uniform Transfer to Minors Act (UTMA)
UGMA and UTMA are custodial accounts that allow parents to transfer assets to their minor children.
How to report UGMA and UTMA on the FAFSA
- Custodial accounts are considered assets of the student.