Are you planning on enrolling in a higher education program? Regardless of the college or university you have your sights set on, you might need some help in the financial sense. This is where financial aid comes into the picture. It's not uncommon for potential students to apply for this, but there is considerable information that is, to say the least, inaccurate. Here are just some of the myths in question that Robert Jain can clear the air on.
"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.
"Eligibility for financial aid depends on household income." You might be under the impression that if your household income is above a certain amount, financial aid ceases to be a possibility. However, there are other factors that can play into your eligibility to receive aid. These include, but aren't limited to, your previous grades and where you live. It's in your best interest to research this so that you know what to expect going in.
"Financial aid packages are known for being rigid." At first glance, you may believe that the financial aid package you receive is inflexible. The truth of the matter is that, in certain circumstances, you might be able to make adjustments. Of course, you have to make sure that your school will allow these, which is another reason why research and communication with your campus are vital. Regardless, to say that these packages can't be changed would be an oversight.
"Getting denied financial aid means I shouldn't try applying in the future." While it's unfortunate that one may be denied financial aid, this doesn't mean that they won't be accepted in the future. The reason for this is that personal circumstances may change. You may get your personal finances in order since then, such as paying off credit card debt. In a situation like this, the likelihood of receiving aid becomes that much greater.
"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.
"Eligibility for financial aid depends on household income." You might be under the impression that if your household income is above a certain amount, financial aid ceases to be a possibility. However, there are other factors that can play into your eligibility to receive aid. These include, but aren't limited to, your previous grades and where you live. It's in your best interest to research this so that you know what to expect going in.
"Financial aid packages are known for being rigid." At first glance, you may believe that the financial aid package you receive is inflexible. The truth of the matter is that, in certain circumstances, you might be able to make adjustments. Of course, you have to make sure that your school will allow these, which is another reason why research and communication with your campus are vital. Regardless, to say that these packages can't be changed would be an oversight.
"Getting denied financial aid means I shouldn't try applying in the future." While it's unfortunate that one may be denied financial aid, this doesn't mean that they won't be accepted in the future. The reason for this is that personal circumstances may change. You may get your personal finances in order since then, such as paying off credit card debt. In a situation like this, the likelihood of receiving aid becomes that much greater.
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