School financial aid offices begin processing FAFSA applications on the first day of the application period and start awarding financial aid packages within days. It’s not uncommon for all institutional aid to be awarded in less than two weeks. So submit your application as soon as possible — Oct. 1 is ideal.
It pays to think even further ahead if this is your first time applying for federal student aid. You’ll need an FSA ID, which is a digital signature you’ll need to complete the FAFSA form. To create a FSA ID, you’ll need your Social Security number, a mobile phone number and an email address.
It’s an extra step to create the account, and it can take up to three days before you can use your FSA ID, so it’s a good idea to create one at least a week before the application period opens.