<p>Should I encourage my parents to fill this out ASAP? What are the benefits that everyone talks about if you fill it out earlier? Thanks</p>
<p>Some federal financial aid has limited funding. For instance the SEOG grant, and the Perkins loan and Work Study. Schools are given $xxx and once that is awarded they cannot get any more to award. These are awarded on a first come first served basis (along with eligibility for the aid of course). Also some State aid as deadlines that you must meet to qualify. (my son and daughter have the same EFC - she received a State grant and he did not because he filed late as he decided late to return to school - only $1,000 but $1,000 in grant would have been better than $1,000 in loan). Schools may also have their own institutional aid that is awarded on a first come first serve bases.</p>
<p>Filing early gives you the best opportunity to get awarded the most aid you are eligible for.</p>