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Do You Make These Mistakes About College Financial Aid?

Many people mistakenly cheat themslves out of College Financial Aid they are entitled to. Check to make sure you don't make these mistakes about College Financial Aid.

* I donít need to fill out the FAFSA form because I wonít qualify for federal loans.

Wrong. You need to fill out the FAFSA form if you expect to qualify for any sort of college financial aid, from any government entity or College Financial Aid office.

Organizations that provide grants, scholarships and private loan resources also often require a completed FAFSA form. It is the standard document for College Financial Aid of any kind.

* My Dad makes a lot of money and said heíd help out, so Iím going to bypass the FAFSA process.

Maybe he will help out, but that doesnít necessarily mean a four year free ride. It is also important to understand that if your parents are divorced, you need only list the assets of one parent on your FAFSA application.

Over half the marriages in this country end up in divorce. There are a lot of factors involving broken marriages that may dictate the level of support that a student will receive from family. So it is important to go on record with a FAFSA form that provides the most modest financial scenario possible should you need to seek college financial aid.

* Iím not going to apply to the college thatís my first choice because the tuition is out of reach and the school isnít going to reduce their costs for me.

No, they wonít. But nearly every university has tuition thatís out of reach for a majority of their students, and they know it. Thatís why the well run schools have knowledgeable, creative and well staffed college financial aid departments. They know itís essential to their survival as well as your enrollment.

There are a remarkable number of ways to reduce your yearly costs besides loans. Work study programs, grants, small scholarship programs from local non-profits; whatís important to keep in mind is that the College Financial Aid department will be familiar with all the options. Be prepared to camp in their lobby and get all the direction you can. Be persistent and insistent and you will get results.

* Itís going to take me forever to pay off these loans.

Not forever, but itís going to take you a while. Itís an uncomfortable feeling, until you consider the alternatives. Take note of the fact that three quarters of the work force in this country are people with no college degree.

Thirty years ago, those people earned about 20% less, on the average, than a college graduate. Today the disparity is 40% and getting wider, as our economy turns increasingly to service jobs with limited or no benefits.

Be sure to also check out: http://4financetips.com

Keep these points about College Financial Aid in mind so you don't miss out on funding that's available to you.

Submitted by:

Teresa Styles

Teresa Styles helps parents and teachers become more effective helping children learn and enjoy learning. She is a contributing author at EducationGold. For more teaching ideas go to: http://educationgold.com.





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