When should high school seniors apply for financial aid for college?

High school seniors should apply for financial aid as early as possible after the FAFSA opens for the school year they’ll attend college. For most students, that means fall of senior year, around the same time they’re submitting college applications or shortly after.

The key rule is to file before each college’s financial aid deadline, not just the general FAFSA opening date. Many colleges have priority deadlines in the fall or winter, and some aid is awarded on a first-come, first-served basis.

A good timeline is this: start checking each college’s financial aid page in late summer or early fall of senior year, gather tax and income documents, then submit the FAFSA once it becomes available. If a college also requires the CSS Profile, submit that by the college’s listed deadline too.

You do not have to wait until you’re admitted to file the FAFSA. In fact, you usually should not wait, because colleges use your aid forms to prepare financial aid offers after admission decisions.

If you apply Early Action or Early Decision, pay extra attention to earlier aid deadlines. Some schools want financial aid forms around the same time as the application itself.

Also check your state aid deadline, since state grants can have separate dates and may run out.