<p>I'm currently a Junior.</p>
<p>Is it alright to apply for FA this early?</p>
<p>There may be outside scholarships you can apply for now though most are for seniors.</p>
<p>It is too early to apply for need based financial aid now. Federal financial aid applications (FAFSA) for the 2009/2010 year will not be available till Jan 1 2009. School applications vary but will generally be sometime in the school year preceding the school year you are applying for (ie during 2008/2009 school year for 2009/2010. The deadlines can vary.</p>
<p>It is an excellent idea to start looking into financial aid now to understand all the ins and outs and help place yourself in a better position for when the time comes. Not suggesting anything unethical but just to avoid pitfalls. For instance certain assets (such as homes and retirement accounts) are protected from federal financial aid formulae. If the parents are saving to buy a house the savings will be counted in the formula but will not if they have been invested in a house. If they are saving for retirement the savings are protected if they are in proper retirement accounts (IRAs, 401ks) but not if they are in regular savings accounts.</p>
<p>Thumper has some good info pinned at the top of the page. finaid.org is an excellent source of information.</p>