For senior families: This is the time to start the financial aid process

Most students will submit their applications for admission before applying for financial aid (so you actually apply to college without necessarily knowing exactly how much each college is going to cost).  And a lot of families fixate so much on the admissions deadlines that they aren't aware of what they'll need to do to apply for aid. 

If you're a senior (or the parent of one) who wants to apply for financial aid, here are a few things you should do now.

1.  Visit the financial aid sections of your colleges' websites.

2.  Find out exactly what forms (FAFSA, profile, or school-specific) are required and when they're due. 

3.  Look for information about other requirements, like submitting business statements or providing step-parent information.

You want to enter the new year knowing exactly what you'll need to do to apply for financial aid and when you'll need to do it.  Getting that information ahead of time will make the process of actually applying faster, easier, and less stressful.