Many colleges/universities post March 1 as the Priority Deadline for financial aid.  This designation usually means that the college has limited funds however they will usually be able to meet those established needs if all paperwork including the FAFSA are completed prior to the priority deadline.  Applications for aid are usually filled on a first-come, first-serve basis.  Federal Student Aid has put together a video to help students and parents what happens after the FAFSA has been filed.  [watch video]