Given the costs associated with higher education, it should come as no surprise that many people rely on financial aid. If you are enrolled in a certain school and reside in a certain state, chances are that you are eligible for this. What you may not know, however, is that there are numerous myths circulating about it. You might have found yourself believing these without knowing. For those that would like to learn about the myths in question, here is some insight that Robert Jain can provide.
"I only have to apply for financial aid once." This isn't exactly true, especially for students that plan on fulfilling multiple years of education. According to names such as Bob Jain, the amount of financial aid that one requires will be different from year to year. What this means is that, in many cases, the FAFSA will have to be filled out and applied with every new semester. Consult your school's financial aid department for specifics.
"If my family's income is too high, I can't apply for financial aid." While it can be argued that income is one of the factors that determine financial aid eligibility, there are others that matter just as much, if not more. These include, but aren't limited to, high school grades and SAT scores. If these are high enough, you will be able to benefit from the aforementioned aid. Don't let household income deter you from pursuing financial aid.
"Once you receive your financial aid package, you can't make changes." In fact, you can make certain adjustments to your financial aid package if you believe they're needed. These run the gamut from the specific amount you've been given to the personal information listed. All you have to do is contact your school, draw their attention to any errors, and see what can be done to amend them. Financial aid packages are more flexible than most realize.
"I didn't get approved for financial aid before, so why should I apply again?" This is the wrong mindset to have, as one's chances of receiving financial aid may change over time. In fact, they might change for the better. For instance, you might not have been in a great place financially when you first apply. However, if you are able to solve problems related to your credit cards or bank account, the aforementioned aid may be easier to obtain.
"I only have to apply for financial aid once." This isn't exactly true, especially for students that plan on fulfilling multiple years of education. According to names such as Bob Jain, the amount of financial aid that one requires will be different from year to year. What this means is that, in many cases, the FAFSA will have to be filled out and applied with every new semester. Consult your school's financial aid department for specifics.
"If my family's income is too high, I can't apply for financial aid." While it can be argued that income is one of the factors that determine financial aid eligibility, there are others that matter just as much, if not more. These include, but aren't limited to, high school grades and SAT scores. If these are high enough, you will be able to benefit from the aforementioned aid. Don't let household income deter you from pursuing financial aid.
"Once you receive your financial aid package, you can't make changes." In fact, you can make certain adjustments to your financial aid package if you believe they're needed. These run the gamut from the specific amount you've been given to the personal information listed. All you have to do is contact your school, draw their attention to any errors, and see what can be done to amend them. Financial aid packages are more flexible than most realize.
"I didn't get approved for financial aid before, so why should I apply again?" This is the wrong mindset to have, as one's chances of receiving financial aid may change over time. In fact, they might change for the better. For instance, you might not have been in a great place financially when you first apply. However, if you are able to solve problems related to your credit cards or bank account, the aforementioned aid may be easier to obtain.
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