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Debunking Financial Aid Myths



Students often believe that a college education is out of their reach due to finances.  This is simply not true.  Here are some of the common myths related to financial aid.   

Myth:  I don’t qualify for financial aid
Truth:  All students qualify for some form of financial assistance.  More than two-thirds of students in college receive some type of financial aid.


Myth:  I can’t afford to take out a student loan
Truth:   Not true!  You do not have to begin repaying your federal student loans until six months after you graduate or drop below half-time enrollment.   If you need additional time, you can possibly defer your loans for an extended period of time.  Learn more at  


Myth: College is too expensive
Truth:  Don’t believe the hype!  There are a variety of college options available to students, and there is financial aid available to help you pay for college. 

Myth: I won’t qualify for a scholarship
Truth:  You never know – you don’t have to be a straight “A” student in order to qualify for scholarships.  There are thousands of scholarships out there with varying criteria.


Myth:  If I pay a company to search for scholarships on my behalf I will get more money.
Truth:   NOT TRUE!  The FAFSA and scholarship applications are FREE and you should never pay someone to complete them on your behalf.  They cannot get you more money.


Myth: The FAFSA deadline for my school has passed so I cannot apply now
Truth:   You can apply for aid throughout the entire academic year.  However, in order to be considered for all possible aid, especially free money which is often limited, it is important that you complete your Free Application for Federal Student Aid (FAFSA) as early as possible (even if you haven’t decided on a school).  It is recommended that students have the FAFSA completed each year prior to March 1. 

























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