While Oct. 1 signifies the start of the Halloween season for many Americans, it also marks the time of years when college students need to resubmit their Free Application for Federal Student Aid.

Every year on Oct. 1, FAFSA applications open back up for the next academic year and while the applications don’t close until June 30 , submitting your application early is crucial to obtaining financial aid. “Some colleges award their aid on a first-come, first-serve basis. If you wait too long, the school’s available financial aid may have been awarded to other students that did the FAFSA sooner. The same applies for federal financial aid,” states Education Loan Finance, a nationwide loan provider, in “Why Completing FAFSA Early Is Critical.”

Just because you apply before the deadline does not mean that you are guaranteed any financial aid from your school or the federal government. There are limited funds to be given out,but millions of students are trying to get them.The FAFSA process can also be stressful for some students if they wait too long.

Many students are busy with exams, work or general class loads, so adding another thing to their plate can be overwhelming if left for too long. “Preparing for the upcoming academic year can usually mean a long to-do list. Plus, you will be wrapping up the previous semester. Do you really want to be worrying about FAFSA when you’re trying to study for exams?” states Education Loan Finance.

By submitting your FAFSA early, you can eliminate the stress that comes from it and focus on current classes and what you will be doing the next semester. No one wants to worry about financial aid,along with attending college classes and studying for finals. This October, while you’re decorating for Halloween and enjoying the season, don’t forget to carve out some time to fill out your FAFSA for the best possible chance of receiving financial aid.