<p>What is it, and when should I get started on it?</p>
<p>The Free Aplpication for Federal Student Aid is required by virtually every school. It would behoove you to have <$100, as students lose 20 cents/yr in financial aid for every dollar they have. You can file a FAFSA after Dec. 31 and use estimates for 2006 financial and tax questions. Don’t wait until your parents file. You need to be in the system to QUALIFY for aid, before some of yours goes to someone else who filed timely. Check for school deadlines and any other requirements, such as the CSS Financial Aid Profile, which can be filed today.</p>