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:

  1. 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 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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

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