The government spares billions (and this is not an exaggeration) of dollars every year to help those families who are unable to pay for their child’s college. However, not everyone who needs this help applies to it because there are several financial aid myths that people easily believe. Here are some of the most widespread for you to get a true idea of what applying for financial aid involves.
There is not enough financial aid for everyone
Perhaps, not every applicant will be able to get financial aid, but your chances are quite high. Around $150 billion of financial aid for students is available every year. The question is not whether there will be enough aid for you, but whether you will be considered eligible for this aid.
Financial aid is not given to those whose income is high
Financial aid is meant to make education accessible to different layers of the population. How do you know who has applied for the aid together with you? Besides, several colleges do not consider family income when granting aid; instead, they turn attention to medical bills, special needs of the family, the number of other family members getting an education, etc.
High grades are necessary to get financial aid
Of course, renewing the aid annually requires good academic achievements, but the decision whether you will or will not get the aid for the first time depends on the financial needs of your family, rather than on your grades.
Getting aid from private colleges is impossible
First of all, what is your desire to study at a private college caused by? Remember, it is not always that the quality of education is higher there. And secondly, if you are still attracted to a particular private college, you might even have higher chances of getting aid from it because such institutions are interested in teaching students of all income levels.
So, has your opinion about the application for financial aid changed yet? Think well before refusing such an opportunity!