An important deadline is coming up next week for students who want to seek financial aid for studies after graduating high school.

Students who want to secure priority consideration for state of Michigan financial aid programs should submit their Free Application for Federal Student Aid — commonly known as the FAFSA — on or before Tuesday, March 1, according to the Michigan Department of Treasury.

The FAFSA is a critical step in the financial aid process, serving as a gateway application to be considered for grants, scholarships and other forms of financial assistance. FAFSA submissions received at the federal processor on or before March 1 are given priority consideration for the Michigan Competitive Scholarship and Michigan Tuition Grant.

Students who wait to complete their FAFSA after the March 1 deadline may not get all the financial aid they could have been entitled to receive.

“When you’re applying for financial aid, completing the FAFSA is a critical part of the process, regardless of income level,” said Robin Lott, executive director of Treasury’s Office of Postsecondary Financial Planning. “This application is free and can help ensure you get as much financial aid as possible.”

Before completing the FAFSA online, the student and at least one parent or guardian must obtain a Federal Student Aid ID at fafsa.gov. The FSA ID serves as a legal signature and confirms an applicant’s identity when accessing financial aid information through certain U.S. Department of Education websites.

To get started with the FAFSA, go to fafsa.gov. To learn more about State of Michigan scholarships and grant programs, go to MI Student Aid’s website at www.michigan.gov/mistudentaid.

Administered by Treasury, MI Student Aid is Michigan’s go-to resource for finding the financial resources needed to pay for college. For more information, contact MI Student Aid at mistudentaid@michigan.gov, 1-888-447-2687 or @mistudentaid on Facebook, Twitter, and Instagram.