No. You should submit the Free Application for Student Financial Aid (FAFSA) to the federal processor as quickly after January 1st each year as possible (because it may take up to six to eight weeks for processing).
The Office of Financial Aid cannot complete the awarding process until you are admitted to the university, though, so the admissions process should begin as soon as possible.
Students may apply for financial aid at any time during the academic year; however, the priority deadline is April 1st of each year for the following fall/spring semesters. Students must complete a separate Summer Aid Application once enrolled in summer courses, in addition to having a complete FAFSA on file.
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