Time to Submit Federal Form for Student Aid

Is there any reason to hurry and submit the Free Application for Federal Student Aid shortly after Jan. 1, when the application can first be sent in? - Need Financial Aid
Answer: Both parents and students need to realize that FAFSA plays a very important role in the financial-aid process, as it is used to determine the eligibility for federal aid. Plus, many college and state aid programs rely solely upon the information given on this form. Others might require you to fill out additional forms.
While the application for financial aid for the school year can be submitted throughout the year, it is not smart to wait. This is because deadlines for state, college and private resources tend to be much earlier. Plus, college funds that could have been part of an aid package might be exhausted for late applicants. Another reason for applying early is to have sufficient time to make any needed corrections on the FAFSA form.
Aid applicants should check online for state student financial-aid deadlines at www.fafsa.ed.gov. They also should contact individual colleges for their specific deadlines.