Final answer:
The FAFSA should be completed as soon as possible after October 1st of each year, not just in February and March. Applying early is crucial to secure financial aid, and students must maintain satisfactory academic progress to be eligible.
Step-by-step explanation:
The statement that the FAFSA should be filled out in the months of February and March is false. The FAFSA, or Free Application for Federal Student Aid, is an application that should be completed as soon as possible on or after October 1 each year. As financial aid is often given on a first-come, first-served basis, it is crucial to apply early to maximize the potential financial aid available. Completing the FAFSA allows you to get your "place in line" for financial aid for the upcoming academic year, which includes federal grants, work-study, and loans.
In response to the instruction to complete the FAFSA, you should be aware that financial aid eligibility also requires maintaining satisfactory academic progress. Therefore, it's not only important to fill out the FAFSA early but also to meet the continuous academic requirements set by the educational institution and the aid program.