Priority deadline for the maximum financial aid award is fast approaching.

Although NIU students have until July 2, 2007 to turn in the online Free Application for Federal Student Aid for the 2006-2007 school year, those who send in the form before March 1 of this year will qualify for a variety of additional benefits.

“Anybody who has turned in their application prior to March 1 we work on first,” said Inali Saghu, student financial aid counselor.

These applications get priority treatment, Saghu said, which translates into getting the maximum benefit available for one’s financial need. The FAFSA is a requirement before any loans or grants can be awarded.

The federal and state governments issue a variety of limited funding programs each year.

Limited funding means once the amount spent by the government on the program reaches a set limit, the money is gone.

“You run the risk of not getting grant money with the Illinois MAP Grant,” Saghu said. “If you wait too long, then that’s up to $4,500 you don’t qualify for because you filed late.”

The NIU Financial Aid office also no longer requires all students to fill out a verification form; only students notified should fill out the form, Saghu said.

A $12.7 billion cut in the Deficit Reduction Act signed by President Bush in early February will not change much until July 2007; the biggest changes for the 2006-2007 year are new grants for science and math majors, as well as the elimination of spousal and in-school consolidation options. Previous legislation also takes effect July 1, 2006, cutting funding for the need-based Perkins loan.

The biggest problems arise when students leave FAFSA questions blank or give incorrect responses, Saghu said. The government then attempts to verify most information reported in the FAFSA, and the Financial Aid Office may have to alter financial aid packages if the government reports a serious error.

“We’ve changed stuff even from last year,” Saghu said. “This resulted in students owing the university money when we returned aid.”

The best method is to file online. The Web site checks for blank questions, the turnover time is faster and applicants can alter information later if any errors need correcting, Saghu said.

Students can reach the Web site at fafsa.ed.gov, or visit the Financial Aid Office, Swen Parson Hall, Room 245, for FAFSA forms.