<p>I have heard that if you apply..say 12:01AM on (January 1) you get more money then someone who applied during a later time on January 1st. Im not sure if this is true. So would the amount of money received drop dramatically if Someone applied on January 2 and not the 1st?</p>
<p>Umm… no. That’s not the way it works. The key is to get your paperwork filed by the priority deadline.</p>
<p>Now I suppose if your FA priority deadline was Jan 1st, then your scenario makes sense. But if your school’s deadline is Feb 15th, then it doesn’t matter whether you file on Jan 1st, Jan 2nd, or Feb 1st. Just make sure you file before the deadline.</p>
<p>Yes I agree. We always fretted about filing early and have done the ‘estimated’ tax and income numbers in the past. Then I noticed my daughters school dates her FAFSA as received complete after it is finalized and also when the verification process has been completed (in the 2 out of 3 years she has been verified). So now we make sure to get the taxes done as early as possible which is usually very early feb (there is always that one tax form that does not arrive until the last legal moment). That meets the priority deadlines for her school and she has always received the ‘limited’ federal funding items such as SEOG and work study (in years where she has been eligible). </p>
<p>I don’t think jan 1 or jan 2 will make a difference.</p>