MONEY MONDAY · FOR HIGH SCHOOL FAMILIES

Hello, October!

By Sherri · Imagine Scholarships ·

FAFSA

Find the money.

PSAT

Find your opportunities.

Applications

Finish what you started.

Pumpkins are appearing on porches, football is in full swing, and somewhere a high school senior is suddenly realizing that college application deadlines are no longer “months away.”

October is a BIG month for high school families. It’s a big month for me, too. I’m headed to my high school class reunion—and I haven’t seen some of these people in 40 years! How is that even possible?

You may also notice something new with Money Monday. After years of sharing college and scholarship advice with you, Money Monday is getting a little more room to grow.

Through our partnership with Red Kite, my newest Imagine Scholarships articles will now be featured on the Red Kite blog. I’m still here, still writing, and still bringing you the practical college, scholarship, and financial aid information you’ve come to expect—just with even more resources available to help your family along the way.

Think of it as the same Money Monday, bigger toolbox. I’m excited about what’s ahead, and I’m especially excited that you’re coming with me.

And speaking of what’s ahead, October has plenty happening for high school students.

This month, I want you to focus on three things: FAFSA, the PSAT, and college applications.

And because I don’t believe in getting scared until Halloween, let’s make sure none of these sneak up on you.

FAFSA · STUDENTS & FAMILIES

FAFSA is open — let’s get it done

If you have a student heading to college next fall, the 2027–28 FAFSA is available now.

FAFSA stands for the Free Application for Federal Student Aid, and it is the gateway to federal grants, work-study and federal student loans. Colleges and states may also use FAFSA information when awarding their own financial aid.

My Top 5 FAFSA Tips

Don’t wait because you assume you won’t qualify. This is one of the biggest mistakes I see families make. Income alone doesn’t tell the whole financial-aid story. Complete the FAFSA and let the process determine eligibility. Some schools won’t consider you for scholarships if you don’t already have a FAFSA on file.
Get your StudentAid.gov accounts ready first. Students need their own account, and required parent contributors need their own accounts as well. Do not share an account or create one account for the whole family.
Let the student start the FAFSA. This can make the process easier. The student completes their portion and then invites the required parent contributor to complete theirs.
Add the colleges you’re considering — even if you haven’t applied yet. Don’t wait until you’ve been accepted to send FAFSA information to a school.
Submit early, then check your work. After submission, review your FAFSA Submission Summary and watch for requests for corrections, verification or additional information. Filing the FAFSA is step one — following up matters too.

Money Monday reminder: FAFSA is FREE. You should never have to pay someone simply to submit the federal form.

PSAT · HIGH SCHOOL JUNIORS

Juniors: the PSAT matters

October is also PSAT/NMSQT month, and juniors should take this one seriously.

Yes, the PSAT gives you excellent practice for the SAT and helps identify the areas you need to strengthen.

But there’s another reason I want juniors paying attention:

The junior-year PSAT/NMSQT is the qualifying test for the National Merit Scholarship Program.

That can mean academic recognition and scholarship opportunities. So while I don’t want students panicking over the PSAT, I also don’t want them walking into it thinking, “Oh, this is just a practice test.”

5 Tips to Do Your Best on the PSAT

Practice in the digital format. Get comfortable with Bluebook and the way questions appear on screen before test day.
Take at least one full-length practice test. Knowing the material is important. Knowing how to pace yourself through the test is important, too.
Study your mistakes — not just your score. A missed question is actually useful information. Was it a math concept? Grammar rule? Reading comprehension? Timing? Figure out why you missed it.
Learn to move on. Don’t let one stubborn question steal time from five questions you could answer correctly. Make your best choice and keep moving.
Don’t cram the night before. Your best last-minute test prep is remarkably boring: sleep, eat breakfast, arrive prepared and breathe. A rested brain beats a 1:00 a.m. study session every time.

And remember: your PSAT score isn’t a label. It’s information. Use it to decide what you need to work on before taking the SAT.

APPLICATIONS · HIGH SCHOOL SENIORS

I don’t get scared until Halloween…

…and neither should you.

If you’re a senior submitting college applications this fall, October is your get-it-done month.

Do not plan to hit “submit” at 11:57 p.m. on the deadline.

Technology fails. Passwords disappear. Essays suddenly contain a typo you’ve somehow read past 37 times. Recommendation letters go missing. Parents begin asking questions. Everyone gets cranky.

No one needs that kind of excitement.

Your October Senior Checklist

Finish your college list
Confirm each school’s actual application deadline
Finish and proofread your main essay
Complete supplemental essays
Request any required recommendations or documents
Review your activities and honors sections
Check testing requirements for each college
Submit scholarship applications
Complete the FAFSA
Submit applications before the end of October whenever possible

A November 1 deadline does not mean you should submit on November 1.

Give yourself breathing room.

The October rule

October doesn’t have to be overwhelming.

Think of it this way:

FAFSA = Find the money. PSAT = Find your opportunities. Applications = Finish what you started.

That’s it.

Three important jobs. One month.

Take them one at a time, check them off, and save the scary stuff for Halloween.

Happy October!

Planning for college? Plan for the cost, too.

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ABOUT THIS CONTRIBUTOR

Helpful advice. Shared purpose.

This article was written by Sherri through our partnership with Imagine Scholarships. Together, we’re working to simplify and customize financial literacy, connecting students and families with resources that fit their college goals.