It may seem early, but if you’re planning to apply for financial aid for the fall ‘08 semester, the deadline to have a 2008-2009 FAFSA on file with the school of your choice may be just around the corner. The Free Application for Federal Student Aid, www.fafsa.ed.gov is the one application for all federal grant, loan, and work-study programs. Most colleges and universities will use the FAFSA to determine your eligibility for other state and institutional aid programs as well.

Since it is up to the financial aid offices of the respective schools to administer all of those funds, each sets their own  FAFSA filing deadlines for each year, quarter, or semester. This is the date by which the school requests that you have your FAFSA submitted to the Federal Government with their school code listed in the section asking which schools you want it sent to. Many schools use March 1st as the deadline for the upcoming fall. Others use other dates, but most fall within early to mid-spring.

If you’ve missed the deadline for a school you are interested in, not to worry. Most will continue to accept applications even after the semester has begun. But you will still want to submit your FAFSA as quickly as possible. The date by which you apply can be an important factor in determining how much aid you receive, since many grant and work-study programs have limited funding. Filing a FAFSA can even be a requirement of some scholarships as well. Also, make sure your FAFSA is complete and accurate before you submit it.  Submitting an incorrect or incomplete FAFSA can cause extensive delays when it comes to receiving your funds.