Common Financial Aid Misconceptions
Financial aid oftentimes has many misconceptions that people assume or are told are truth. The first misconception is that you shouldn't apply for financial aid unless you have already been accepted and are declared to the university of your choice. The FAFSA papers are transferable to most universities and one is advised to begin your FAFSA papers during your application process because some schools have their own papers about home equity and other topics that they require you to attach along with your FAFSA papers. A second misconception about financial aid is that it is only available to the most needy students. Although it is often need-based, people qualify for the governments stash of 125 billion dollars financial aid money yearly. This can be due to grades or athletics, whether they are poor or very wealthy. One must only know how the system works and they will most likely qualify for some type of financial aid.
Other financial aid misconceptions include thinking that financial aid help that one qualifies for is the same from school to school. Financial Aid rather varies from school to school like tuition costs. This does not however mean that if the tuition is greater in one school the financial will be less. There have been instances in which students find that through financial aid the more expensive school turns out to be more affordable then the cheaper tuition school. The last misconception of financial aid is that US citizens are the only individuals that qualify for financial aid. A non citizen can qualify for financial aid if they have a green card or a permanent citizenship. Also parents citizenship do not effect whether one can apply for financial aid, as long as the child has citizenship or a green card.
Read more about this topic: Student Financial Aid In The United States
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