When should we file the FAFSA to maximize aid, and does filing early actually help?

Yes, filing early genuinely matters because some aid is first-come, first-served. The FAFSA opens for the upcoming academic year in the fall (traditionally October 1, though recent cycles have shifted the exact date). Certain federal, state, and institutional funds, especially work-study and some grants, run out, so early filers get first claim. The FAFSA uses "prior-prior" year tax data, so the return you'll report is already filed, meaning there's no reason to wait. Check each state's and each college's own priority deadlines, which can be much earlier than the federal cutoff. Submit as soon as the form opens, then correct any details later if needed rather than delaying the whole application.