Financial Aid Grants

Money myths
Know the truth about Financial Aid Grants for college

Every year thousands of students depend on financial aid grants to afford their college tuition. However, there are countless myths and a lot of inaccurate information surrounding financial aid grants and the recipients.

Some students do not even investigate the possibilities because they have been told that they have no chance of acceptance. They may feel that their parents make too much money, their college is not eligible to distribute grants annually or that because of their own part time employment they would be denied any assistance. All of these myths are completely untrue and should not discourage a student from applying for government grants. The following are some of the most common myths surrounding financial aid grants;

Myth Number One: Financial aid grants are only for students who have a family income below the government appointed poverty line.
Though there are financial aid grants for families which can not afford college costs there are also other financial assistance programs which help students from all financial backgrounds.

For example, scholarships are often reserved for students who excel in both academics and the arts and are not in any way based on family income. Other college aids grants such as those which are rewarded to students who have given back to their community and have worked to improve the lives of others also do not have a minimum income requirement. Financial aid grants come in all forms and can often be received by any student regardless of their parent’s income.

Myth Number Two: It is best to wait until you’re accepted by a specific college before searching for financial aid grants.
This is a very common misconception. Many students wait until they have received their acceptance letter before looking into which financial aid grants are available. This, of course can be a big mistake.

Almost all government issued aid grants are given out on a first come, first served basis and can be completely distributed before classes begin. A better approach is to look into the grants, scholarships and loans available while completing the college application process. That way, once accepted a student will already be familiar with the grants available and their individual eligibility.

Myth Number Three: I will not be eligible for financial aid grants if I work part time while in college.

This myth is one that concerns many students every year. They need a part time job to afford their education costs, but also need financial aid to pay for tuition and feel that the decision to do one will affect their eligibility for the other. This is not the case, in fact many government issued grants will make special consideration for students who have been or are currently involved in the workforce. Some jobs, such as tutoring can actually increase your chances of approval for many financial aid grants.