When To Apply For Financial Aid: The Early Bird Gets The Aid

Submitting your financial aid application as early as possible maximizes your chances of securing funds, resolving any processing issues, and qualifying for merit scholarships. Whether you’re a domestic or international applicant, getting your application in early gives you a competitive edge!

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Is there a “best” time to apply for financial aid when applying to college?

Short answer: yes, yesterday!

Why Early is Better

Longer answer: Don’t worry—as long as you haven’t missed the actual application deadline, you’re not too late to apply for aid.

However, there are plenty of good reasons to get your financial aid application in as early as possible and none to delay. Timing is crucial, whether you’re a domestic or an international applicant. Let’s break it down.

For Domestic Students

For students in the United States, submitting your financial aid application before your admissions application is key. Many schools with limited financial aid budgets award funds on a “first come, first served” basis. In other words, early applicants might have a better chance of snagging the aid they need.

• Early Submission Advantage: Schools often favor early financial aid applications because they have a limited budget. Waiting too long—even if you plan to price shop later—can backfire.
• Smooth Out the Process: With the occasional delays and issues (think FAFSA or CSS Profile hiccups), submitting early gives you more time to sort out any snags that might come up.
• Merit Scholarships: Filing on time can also put you in the running for merit scholarships. Universities appreciate when they can combine merit aid with need-based aid, and you don’t want to miss out on that bonus just because of a late submission.

For International Students

The stakes are even higher for international applicants. American universities have very limited financial aid budgets for international students, making the timing of your application even more critical.

• Scarcity of Funds: The same scarcity arguments for domestic students apply—and then some. With fewer resources available, the early bird really does catch the worm.
• Need-Aware Policies: Many universities are need-aware for international applicants. This means that admissions officers know whether you’re applying for aid or not, which can impact your chances.
• Strict Deadlines: In many cases, international students cannot apply for aid after the admissions process begins—or even after being admitted. Given that international aid applications are often more complicated, starting early is essential to avoid any processing delays.
• Competitive Pools: Even at need-blind schools, the competition is fierce. Early submission minimizes the risk of being caught up in processing delays due to high application volumes.

The Final Decision

For international applicants who are on the fence about applying for aid, the decision is especially challenging. While a few universities are need-blind for international students, the vast majority are not. American universities are expensive, and while aid packages can be generous, the competition is brutal, and full-pay applicants may have a significant advantage.

Ultimately, the decision to apply for financial aid is deeply personal. If you choose to apply, doing it early can make all the difference. Not only does it increase your chances of securing the funds you need, but it also sets the stage for a smoother admissions process.

So, if you’re thinking about financial aid—remember: the best time to apply is now.

If you have more questions regarding financial aid, feel free to book a free consultation with one of our admission experts in the link below!