College tuition and other expenses related to higher education call for a great deal of planning if you don’t want to be saddled with debt for decades to come. Some myths surrounding college funding can hurt a person’s chances of getting some of the free money for college that is available. We’re about to clear up a few misconceptions for you.
- Myth 1: All my child needs is a merit scholarship – Even if your child is brilliant or a great athlete, don’t rely on merit scholarships alone. According to debt.org, the average merit scholarship is about $5,000 per year. That is a fraction of the cost of a year of education at a university.
- Myth 2: Financial aid and student loans are the same – Actually, the majority of money awarded through FAFSA is free money for college that never has to be repaid. Therefore, regardless of your family circumstances, all students should fill out the FAFSA to see if they can claim any of the free money that has been set aside for college students.
- Myth 3: We make too much money to get financial aid – You won’t know if this is true until you apply. Don’t rule out the chance at free money for college before you fully research the FAFSA requirements.
Get the Help You Need When Planning for College
College Planning Source is here to help your family plan ahead for college. Contact us today by calling 858.676.0700, or you can request your assessment over Zoom by submitting our online form.
