LANSING, MI-- Students who want to be given priority consideration for state of Michigan financial aid programs have less than a week to submit their Free Application for Federal Student Aid, according to the Michigan Department of Treasury. Known simply as the “FAFSA,” this application is a critical step when applying for grants, scholarships and other forms of financial assistance. FAFSA submissions received at the federal processor on or before May 1 are given priority consideration for the Michigan Competitive Scholarship and Michigan Tuition Grant. Students who wait to complete their FAFSA after the May 1 deadline may not receive all the financial aid they could have been entitled to receive.