Financial aid is available in many forms and for many reasons. Don't believe everything you hear, and if you aren't sure if it's true or not research it! Here are a few common misconceptions regarding financial aid:
- I can't afford college. Without a doubt, college is expensive. However, this doesn't mean you cannot afford it. When you consider the long term..college is worth every penny. A college grad will make an average $800,000 more in their career than a high school grad. Also, just because a tuition rate seems too high (or too low) this does not influence the quality of education you will receive.
- You need great grades to get aid. You may need good grades to get scholarships but federal aid is need based and more than likely your grades won't even be a factor.
- There is not enough financial aid available. False. In 2009, over $168billion dollars was awarded. Most students qualify for some sort of aid. Grants may not be available for everyone, but there many low interest loans out there.
- My family's income is too high to qualify. The only way to know for sure is to file a FAFSA form. Federal aid is determined by numerous factors including a family's college aged children, the student's assets, and income. You won't know if you don't try.
- I had an older sibling who did not qualify for aid last year, so I won't qualify this year. Once, again fill out a FAFSA to find out. Aid is based partly on number of college aged students in a household and may have an impact on your eligibility.
- There is no aid available for part time students. False! Check with your school's financial aid office for details.
Categories: Financial Aid | Scholarships | Student Loans | Financial Aid Applications | FAFSA
Tags: financial aid for part time students financial aid misconceptions low interest loans qualifying for financial aid