Whether you’re going to an accredited online college or a traditional college, if you want to get federal financial aid, you must complete and submit the FAFSA or Free Application for Federal Student Aid. The good news is that there are ways to maximize your potential for getting the most federal financial possible. I found a list of helpful tips from SmartMoney.com on how to apply for the FAFSA to boost your financial aid.

1. File the FAFSA Early

Although the federal deadline for the FAFSA for the 2010-2011 academic year is June 30, 2011, it is best to apply as early as possible since the funds available can and will run out over time. By applying early, you increase your chances for the maximum amount of aid you can qualify for.

2. File Your Taxes Early

A large part of the information required on the FAFSA comes from your taxes, therefore, in order to file the FAFSA early, you must file your taxes early. You can file the FAFSA without the tax information but that means more work for you in the future.

3. Appeal Based on Unusual Financial Circumstances

If, after your financial aid is awarded, you experience an unexpected or unusual circumstance, such as losing your job, receiving a salary cut, or a high medical bill, you can file an appeal for additional aid. You must supply documentation proving your financial circumstance in order to be considered for the appeal.

4. Pay Down Your Consumer Debt

The amount of financial aid you receive is largely based on your savings. If you carry consumer debt and make an effort to pay it off, that will decrease your savings and therefore increase your opportunity for more aid. It’s a win-win situation for you!

Every little bit helps when it comes to financial aid, so why not apply the above tips to your FAFSA application process and give yourself the opportunity to increase the help you receive and decrease your financial burden. By learning to think ahead, act ahead, and be financially responsible, you can create useful habits that will contribute to your overall success in school and in life.