Fact V. Fiction

There are many myths and mistruths surrounding college financial aid. Knowing the truth can take some of the stress out of the process and increase your chances for success. If you have any specific questions that you’d like answered, please contact us. We’re happy to help.

Filing for financial aid is easy.

False
The forms themselves are easy. What is difficult is understanding the financial impact of the information you put on the financial aid forms when it comes to financial aid eligibility

If your income is too high, you won’t qualify for aid.

False
Many families with six figure incomes receive need-based financial aid.

Low grades affect your financial aid availability.

False
If a student is accepted to a college of their choice, they’re eligible for need-based financial aid.

State schools cost less than private schools.

False
Many private schools have large endowments. These endowments are used for financial aid. In many cases an expensive private school will cost less than a state school.

Guidance counselors and financial aid officers offer sufficient help.

False
High school guidance counselors and college financial aid officers are not trained to advise the family on financial matters, nor is it their responsibility to find money for a student’s education. Additionally, school counselors often do not have the time to sit down with each individual family and fully explore all the possible options available.

Professional college planners can save you money.

True!
Transferring colleges can cost the family an additional year of college expenses, which can be $35,000 or more. Professional college planners help students and families make wise decisions that consider their specific interests and financial situation, increasing the likelihood that the student will finish their education in four years.