The Free Application for Federal Student Aid (FAFSA) opened on October 1. Filing the FAFSA is the first step you must complete to be considered for financial aid from the federal government, your state government, and the college you wish to attend. It is important to file the FAFSA early because some financial aid awards from states and colleges are given on a first-come, first-served basis. Funds become available on October 1 each year for the following academic year so try to submit as early in October as you can.
[1] Merit-based scholarships
Even if you think you won't qualify for financial aid due to income cutoffs, it's still worth your time to complete a FAFSA. Financial circumstances change and not qualifying for aid now does not mean you won't be eligible in six months. It's also important to note that submitting a FAFSA can help you gain access to funds for school besides a student loan. Many schools require you to submit a FAFSA before you can be considered for academic or merit-based scholarships. Check with your school to determine what kinds of academic and merit-based scholarships they have and what the deadlines are for competing your FAFSA. Some schools and state grant programs require an earlier final submission of your FAFSA than the federal deadline.
[2] Grants
Your FAFSA is also your ticket to federal and state grants as well as grants offered by some colleges and universities. Federal and state grants are awarded based on financial need and the best part is that most grant dollars don't need to be paid back! To find agencies in your state that award grants for college, use
this map from the US Department of Education. Federal Work-Study Program
Another way your FAFSA can help you access more money for college is through the
Federal Work-Study Program. By filling out a FAFSA, you can qualify for the Work-Study program which provides part-time jobs to students. While the FAFSA can determine your eligibility for the program, it doesn't guarantee a job. You will still need to search and apply for positions. This program is administered by participating schools. To find out if the school you hope to attend participates in the Work-Study program, check with the school's financial aid office. What you earn, also known as your total work-study award, depends on several factors including when you apply, your level of financial need and your school's funding level. No matter what, you will always earn at least the current federal minimum wage. Remember, submitting a FAFSA early gives you the best chance at gaining access to funds for school through federal loans, federal and state grants, scholarships, and the Federal Work-Study Program. To learn more about how to file a FAFSA, you can
watch a webinar from Mid Minnesota Federal Credit Union's student loan partner, Student Choice.
[1] https://www.forbes.com/sites/edwardconroy/2022/09/30/why-you-should-file-your-fafsa-early/?sh=2d711f9e39b1 [2] https://www.yourmoneyfurther.com/personal-money-solutions/personal-loans/7-ways-to-pay-for-college 
