Today is the best day to file your FAFSA for student loans

January 1 is best day to file your FAFSA

File your FAFSA form today! January 1 is the best day to file for student loans if you plan to attend school in 2016, experts say.

The entire FAFSA application process only takes about 30 minutes and filing early can provide filers with more money from grants and  other services.

The FAFSA application is 100% free to file and it was made available on this government website at 12 a.m. CT.

Anyone attending school is encouraged to fill out the FAFSA form quickly because some states run out of grant money. Some state grants operate on a first-come, first-served basis, and once those funds are gone you are out of luck. States that run on such a system include: Alaska, Illinois, Kentucky, North Carolina, South Carolina, Tennessee, Vermont, and Washington.

While the main deadline for FAFSA is June 30, some states have their own deadlines for certain parts of the FAFSA form.

If you are a dependent you’ll need to know your parents income, which can be found on their W-2 forms or via their tax returns.

Remember to file quickly and you could find yourself receiving more benefits than other students at your college who file later in the FAFSA deadline period.