Don’t let myths cost you money. Here are 5 common misconceptions about financial aid—and the truth behind them.
Myth vs. Reality
- “Public universities are more expensive than state schools.”
Reality: Most private schools offer more aid than public colleges! And the “bottom line” cost at a private school is often less than a state school. - “My family earns too much to qualify.”
Reality: Aid eligibility is based on many factors—don’t assume you’re ineligible. Most students get some financial aid. And every student who has worked with First Gen has gotten financial aid! - “Only perfect students get scholarships.”
Reality: Leadership, background, service, and other qualities also count. Schools often use scholarships to entice you to attend – even without top grades and scores. - “FAFSA is only for federal aid.”
Reality: Most states and schools use FAFSA. You must submit FAFSA to get the most financial aid! - “The financial award letter in my aid letter is final.”
Reality: You can appeal your financial aid award letter. Most schools have a process in place for doing so.