We know you’ve got a lot on your mind during the holidays. After all, you’ve got parties to go to, food to prepare, presents to buy—and you might be anxious about how you’re going to pay for it all.  But if your New Year’s resolution includes going back to school in 2012, now’s an important time to start thinking about how you’re going to pay for that, too.

We know it’s not as fun as putting up your holiday decorations, but this is when you should start preparing to file your Free Application for Federal Student Aid (FAFSA).

Over two-thirds of students rely on some sort of financial aid, states a report by the U.S. Department of Education’s National Center for Education Statistics. You may be more eligible for some type of funding than you might think, but if you’re not careful, even small mistakes when applying could delay your application or might cause you to lose out on funding altogether.

The nonprofit National Association of Student Financial Aid Administrators has a helpful list of top mistakes you should avoid:  Here’s a sampling:

1. Failing to file your FAFSA early: Though the federal filing deadline isn’t until June 30, 2012, don’t wait that long.  States and individual schools often have much earlier filing deadlines, and if you miss them, you’re out of luck. You can file as early as January 1, 2012 and you should. States and colleges use the same FAFSA form to determine whether you are eligible for other types of funding. This nonfederal funding is limited, and the earlier you apply, the better your chances.
2. Failing to fill out the form completely: Once you have everything you need compiled, the FAFSA takes about an hour to complete.  It’s a good idea to gather everything that’s required prior to starting so you don’t leave anything undone. You’ll need your previous year’s tax return and W-2 form, bank and financial statements, any mortgage and investment documents and your driver’s license number. If you aren’t a U.S. citizen you’ll need your alien registration or permanent resident card. If you are a dependent, you’ll need your parent’s tax returns, forms and financial statements too.
3. Failing to provide your social security number: Leaving this field blank is a big reason the application is rejected says the Albuquerque Public Schools office. The website Fafsa.ed.gov stresses the importance of entering your social security number correctly as well.
4. Not signing your application: If it requires your parent’s signature, make sure they sign it! Since many FAFSA applications are filed electronically you should make sure you know how to e-sign your form. The FAFSA website says no signature is another top reason an application may be rejected.
5. Not entering your marital status (or entering it incorrectly): This might seem like a no-brainer but it causes a lot rejections for FAFSA applicants.  You’ll need to enter your status as it stands on the day you file your application, even if you may be getting married in a week or are separated and your divorce is pending.

Avoiding these little oversights can save a lot of headaches and angst. Getting ready for school is stressful enough, so enjoy your holidays with some simple time management and advance planning and you’ll be ready to focus on your studies and not your finances when the school year starts.

Here if the complete PDF of NASFAA’s “Mistakes to Avoid When Completing the FAFSA.”