Why You Should Submit Your FAFSA As Soon As Possible
5 Reasons to Submit Your FASFA Early
#1 Maximize Your Financial Aid Opportunities
Submitting your FAFSA application ahead of the deadline gives you the best chance of obtaining financial aid, since many state, federal, and institutional funds are awarded on a first-come, first-served basis. Federal aid programs like the Pell Grant and Work Study are finite, meaning funds may deplete quickly as applications come in.
Likewise, many state and institutional scholarships rely on FAFSA information and usually prioritize early applicants. By submitting early, you raise your chances of accessing these limited resources before they’re all out.
#2 Avoid The Rush And Reduce Stress
Waiting until the last day to submit your FAFSA can lead to avoidable stress, especially as deadlines near. Technical issues and system backlogs can make late submissions even more infuriating. Finishing your FAFSA early allows you to focus on other important tasks, including your college application essays, applying for scholarships, and visiting colleges, without the looming pressure to submit it.
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#3 More Time For Error Correction
Submitting your FAFSA early gives you time to correct mistakes that could delay your financial aid offer. Common mistakes, such as misreported income, incorrect Social Security numbers, or even leaving questions blank can all affect the processing of your application. Additionally, the FAFSA is a complex form and typically requires information from your parent or guardian, such as tax returns and financial records, so collect this information in a timely manner.
When you submit early, you have time to review your Student Aid Report (SAR), catch mistakes, and make corrections to these errors long before deadlines. This ensures that your FAFSA is delivered smoothly and prevents delays caused by a flood of late submissions.
#4 Gain Insight Into Your Financial Aid Package Early
By submitting your FAFSA early, you can receive your financial aid package sooner, giving you insight into your potential tuition for college. Early submission lets colleges process your application and provide you with a financial aid offer quicker.
This helps you plan ahead, compare offers from different schools, and make informed decisions about where to enroll. Knowing your aid package early also allows you to plan effectively for additional expenses, such as housing, books, or meal plans.
#5 Meet State And Institutional Deadlines
While the federal FAFSA deadline is June 30, many states and institutions have earlier deadlines for their own financial aid programs. Missing these deadlines could have you losing out on significant state grants or institutional scholarships. For example, some states close their financial aid programs as early as January or February, months before the federal deadline.
Submitting your FAFSA early ensures you meet these pivotal deadlines, securing additional aid opportunities that may not be available to late applicants.
Set Yourself Up For Future Financial Success
Knowing your aid package early allows you to assess your need for student loans, explore repayment options, and plan for out-of-pocket costs. Establishing these habits of proactive financial management can help you avoid last-minute scrambles and unexpected financial pitfalls, setting you up for long-term success both during college and in life after graduation.
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