If you are planning on attending college, then you need to acquire all the financial aid you can get. College is expensive, and parents and children alike spend years paying off the debts that are accumulated. The FAFSA (Free Application for Federal Student Aid) is one great way to free money for college. However, if you fall prey to one of these myths, you may lose out on financial aid that was available to your family.
- My household income is too high to apply – This is never the case. Almost everyone will get something, even if it is a low-interest student loan from the government. Remember too that if you are applying to a more expensive private school, that will be taken into consideration when the amount you qualify for is determined.
- I’m not a dependent for tax purposes, so I don’t need my parents to fill out the form with me – That may be true, but it may not be. The rules that determine whether you are independent for tax purposes are different from those that determine if you are a dependent for financial aid purposes. You will answer questions on the FAFSA that will determine if your parents need to fill out a section of the form.
- My grades are not good enough to get financial aid – While some scholarships may require a particular GPA or your college may want certain scores for admissions, there is no grade limit on the FAFSA requirements.
College Planning and Financial Advice for Families
College Planning Source can help you to maximize the amount of free money for college that your family receives. Check out our webinars and workshops or schedule an assessment by calling 858.676.070 or filling out the online contact form.