How to fill out the FAFSA

January 1 is quickly approaching–are you ready to fill out the Free Application for Federal Student Aid (FAFSA)?

The video below from the U.S. Department of Education tells you everything you need to know about preparing for and filling out the FAFSA.

Remember, you’ll never know whether you’re eligible for need-based aid if you don’t fill it out. So make sure you file your FAFSA on time, even if you think you make too much money to receive financial aid.

You’re eligible to file this year’s FAFSA from January 1 – June 30, 2014, but most colleges’ deadlines are in late February or March. And if you want to be eligible for financial aid from your state, you need to make sure you meet your states’ deadline, which can be found on www.fafsa.gov.

In general, the earlier you file and apply, the better your chances for receiving scholarships and financial aid for college. Many schools have a cap on how much money they can give out, and once it’s gone, it’s gone. So fill out the FAFSA and apply for financial aid as soon after January 1 as you can!