8 Myths About Financial Aid College Students Need to Know
Let’s face it, money is tight. Which means it is more important than ever that we as college students be aware of all financial aid opportunities available. According to Online Graduate Programs, there are eight highly perpetuated myths that are keeping college students from receiving funding that they might be entitled to. Luckily for us they’ve put these eight myths into an easy-to-read infographic below.
Important Points To Consider:
Applying For Financial Aid Is Only For Lower Income Families
Annual income is important, but you shouldn’t just assume you won’t receive any aid. If your family makes more than average, but you also have two other siblings in rather expensive colleges, you might qualify for financial aid. So don’t just assume that you wont get aid. Some money is better than no money!
Only Straight A Students Qualify
Financial aid is mostly need-based, not merit-based however you shouldn’t discount your ability to receive aid. Colleges typically determine need of financial aid on the tuition costs and the expected family contribution. Be sure to at least apply.
Student Loans Aren’t Worth It.
This has become a topic that has popped up again and again among other students and me as we try to figure out how the hell we’re going to pay for undergrad and graduate school. Some students say that they can’t go because they don’t want to take out a student loan. The reality is that student loans are there for a reason, and without them, very few students could afford college. Managing your money and understanding why you are going to college is very important when taking out loans. Make sure that you realize that you are investing in yourself.
Below is an infographic all about Financial Aid
What are your thoughts on student loans?
Maximillian Garland| Bright Futura Columnist