Countdown to college: Go ahead and fill out FAFSAWhy is it that even the most organized, buttoned-up and get-it-done families struggle to collect their information and complete the FAFSA (Free Application for Federal Student Aid -- www.fafsa.ed.gov)? It's important to fill it out and submit it as early as possible since applications are considered on a first-come, first-serve basis.

Here are some FAFSA facts and recommendations:

Most financial aid, whether the source is a college, your state or a foundation, requires the completed FAFSA. If you are interested in need-based aid such as government-funded Pell Grants, which you don't need to repay, or state-sponsored aid; student loans such as Perkins and Stafford or PLUS Loans for parent borrowers; or work-study programs on college campuses, you will need to fill out the FAFSA.

Merit-based aid is different. Some colleges award it based on nothing more than the student's application, and the amounts can vary greatly.

Before you start collecting all of your expense receipts for the past year, create a Federal Student Aid ID, called a PIN, and use the FAFSA4caster to estimate your eligibility for federal student aid. While you are at the FAFSA website, check out your state's deadline for applications; they vary and some are as early as Feb. 15.

What materials do I need?

You will need: your Social Security number, your driver's license number and your most recent tax return(s). If you file in January, you can estimate the most recent year's taxes. You can make corrections to the form in February or March. You will also need your most recent bank statements and business, mortgage and investment records.

What else do I need to know?

If your son or daughter has applied to private colleges, you will also need to complete the CSS Profile form, which can be found at www.collegeboard.com. According to Cappex.com, two-thirds of all undergraduates receive some type of financial aid.