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It's time to file that financial aid form

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There are two important rules about getting federal aid for college: You must apply for it and the sooner you do, the better. The process starts by filing the Free Application for Federal Student Aid (FAFSA) form.

David Levy with the financial aid website Edvisors.com says now is the time to do that.

"The studies we've done have shown that students who apply in January, February and March tend to get twice as much grant money, free money, as students who file after April 1," he said.

Some people think they have to wait to do their tax return before they can fill out the FAFSA form. Not so.

"In fact, they can estimate the information and then go back and update it later using a process called the IRS data retrieval system," Levy told me.

And remember this: The student does not have to be accepted to a college or university to apply for financial aid.

David Levy co-authored the new book "Filing the FAFSA: The Edvisors Guide to Completing the Free Application for Federal Student Aid." You can download it for free from the Edvisor's website.

More Info: Start the 2016-2017 FAFSA Tutorial: The FAFSA in 7 Easy Steps

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