<p>The big rush to file your taxes early for the most part is only going to be an issue if you have a first time freshman attending college. For returning students the financial aid deadlines usually happens later. I always advise my students to talk to their parents and get the paperwork submitted asap. Even deep pocket schools have budgets and much of the financial aid including need based is distributed on a first come first served basis. Late applicants may end up with more loans (at schools that do not have no loan policies) because the college has exhausted their financial aid budget.</p>
<p>However, if your child will need or be applying for financial aid during their time in college, as part of your due diligence you should be reading the financial aid section for application deadlines and plan accordingly.</p>