As a student, it can often feel like you never have enough financial aid to cover the cost of college. While you have to be ready to pay some of your college expenses yourself, here are 4 tips to get the most financial aid money each year.

1. Turn in your FAFSA as early as possible.
The Free Application for Federal Student Aid gives you an opportunity to earn grants, loans, and other types of financial aid. In general, if you’re looking to attend school in the fall semester, the best time to turn in your FAFSA is before Valentine’s Day. So, if you are planning to start college in August, you should try to turn in your FAFSA before February 14. It’s not uncommon for colleges and universities to distribute some forms of financial aid, such as work-study, on a first-come, first-served basis, so you could get first dibs by applying early.

On a side note, some students from wealthier families believe that completing the fasfa is a waste of time, since their family’s income disqualifies them from receiving financial aid. This is a myth! One important form of financial aid that is not based on income is the Unsubsidized Stafford Loan. This student loan comes with a fixed interest rate of 6.8 percent, which is better than what most private student loans offer. You can qualify for this loan even if your parents are wealthy, so every student should be completing their FAFSA form.

2. Request Federal Work-Study on your FAFSA.
When you fill out your FAFSA, you will be asked if you’re interested in federal work-study. You absolutely should be! This helpful program allows you to earn your financial aid by working, generally part-time at your college or university. Off-campus work-study jobs are occasionally available in your community.

If you claim on your FAFSA that you’re interested, but don’t end up qualifying, you don’t lose anything. If you do qualify and receive work study, you’re under no obligation to actually work, if you decide you don’t want to. So, you have nothing to lose.

Once you receive work-study, you can begin applying to work-study jobs. Check at your college or university’s career office, financial aid office, online job board, or school newspaper for work-study positions. Prepare a resume, write a cover letter, and arrive to the interview in professional attire, just as you would for any other job.

If you are hired, you will often make the minimum wage. However, because these jobs are usually on-campus, you can save on transportation costs by working on the days you already have classes.

3. Apply for scholarships.
Unfortunately, some people believe that applying to scholarships is a waste of time for anyone who wasn’t a straight-A student in high school. This is another myth! Some scholarships have very specific requirements, so the pool of applicants is small, while others are based on essays, and have nothing to do with GPA. Many free websites list scholarships available to students, so start applying now.

4. File taxes even if your income is very low.
If you’re in college, you should be filing taxes every year, or your parents should be filing with you as a dependent. If your income is very low, you’re not required to file taxes, but doing so can help you get free tax credits that can be just as helpful as more traditional types of financial aid.

One of these credits is the American Opportunity Tax Credit, which is designed to help undergraduate students and their families pay for college. It provides up to $2,500 for the first $4,000 of educational expenses you report. This credit became available in 2009 and, unless Congress decides to extend it, will be around until 2012. Another is the Lifetime Learning Credit, also designed to help with college expenses. This will give you a tax credit equal to 20% of your tuition and tuition-related expenses. The maximum amount you can get from this credit is $2,000.

So, should you file your taxes, or should your parents claim you on theirs? Well, if you live with your parents for more than half of the year, you rely on them for financial support, and you’re a full-time student under the age of 24, you’re considered your parents’ dependent. They should file taxes so that they can get the education credit or credits. This should help them continue to support you.

Now, if you’re living on your own and supporting yourself, then you’re usually considered independent for tax purposes. This is true even if you’re considered dependent on the FAFSA, because different criteria are used. You should file your own taxes.

If you’re independent, you can claim other dependents. You must be supporting them, but they don’t necessary have to be related to you. If someone lived in your home all year, you provided more than half of their financial support, and they made less than $3,500, they are usually considered your dependent. If they are also a student, then you can get their tax credit, plus your own. If you aren’t sure if they would be considered your dependent, check with a tax specialist.

This should go without saying, but please don’t consider committing fraud to help you obtain these credits. The consequences of an audit could be very serious.

In conclusion, using these strategies will help you receive the financial aid you deserve to fund your education. Remember, every little bit helps!