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Beginning in 2016, the FAFSA can be submitted as early as October 1st. Financial aid applications, such as the FAFSA, should be submitted as soon as possible after the date they open each year. You cannot submit the form before this deadline because the need analysis process uses your financial information from the prior tax year when calculating eligibility for the upcoming award year.

To meet the deadlines for most states you should submit the form no later than March 1, with February 15 being ideal. Do not wait until you've filed your income tax returns with the IRS. You should either estimate your income - you'll have a chance to correct errors later - or complete your tax returns early.