"Only straight 'A' students get financial aid!"
Reality: A good academic record can help students qualify for many merit-based scholarships. However, most federal financial aid is awarded based on need and not merit.  

"We saved for college, so we won't qualify for aid!"
Reality: Saving money for college doesn't mean you won't qualify for aid if you need it. Only a portion of your assets is included in your Expected Family Contribution. File the FAFSA to find out if you qualify for aid.

"My grades will suffer if I work during the school year!"
Reality: Studies have shown that students who work part-time while attending school actually perform better academically than students that do not work. Plus, they gain invaluable career experience.

"We were not eligible for aid when our first child went to college, so we won't be eligible when our second child goes off to school!"
Reality: Your Expected Family Contribution (EFC) will have to cover the Cost of Attendance (COA) at two schools instead of one now that your second child is attending college. This may mean you are now eligible for financial aid. You will never know if you qualify with a second child in school unless you apply.

"Our family just can't afford college!"
Reality: Although the costs of attending college may be on the rise, not all schools are expensive to attend. With the added help of financial aid and student loans, college can be affordable for just about any family. Remember, college graduates earn more money over the course of their life-time than high-school graduates. Don't rule out applying to a college just because you think you can't afford it.  

"It doesn't matter how much money we make, because our child will fund education herself."
Reality: Most need-based financial aid is based off of both your and your child's income, regardless of whether you plan to pay for education costs as long is your child is considered a dependent. A student cannot legally declare independence simply because their parents will not help fund the cost of their education. Independent students must meet at least one of the following criteria: student is at least 24-years old by January 1 st of the academic year and reports only his or her income and if relevant, their spouses income when applying for federal aid; student is under the age of 24 and not claimed as a dependent by their parents during the previous tax year; a veteran of the U.S. Armed Forces; an orphan or ward of the court; a graduate student or a supporter of a legal dependent themselves.  

"We make too much money to qualify for aid!"
Reality: Many factors are considered when assessing whether a family qualifies for financial aid. Although income is one factor, there is no cutoff. Other factors such as parent age and family-size are also important. Fill out the FAFSA to find out if you qualify.

"The FAFSA form is too hard to fill out!"
Reality: Applying online makes filling out the FAFSA easy. The web application provides detailed step-by-step instructions on how to complete the form. Plus, you can access a customer service rep through online chat if you have any questions. Filling out the paper application? Call the Federal Student Aid Information Center at 1.888.4.FED.AID. Advice is free.

"Millions of Scholarship Dollars are Wasted Each Year!"
Reality: Most unclaimed scholarship money is given to eligible candidates, such as company employees and organization members. The majority of financial aid dollars come from the federal government.

"There is no benefit to filing the FAFSA application electronically!"
Reality: Filing your FAFSA through the web has a lot of advantages. It's faster. Immediate proof of submission. The web application program can catch important errors.

"We will have to sell our home to afford college!"
Reality: No college will expect you to sell your home to pay for the cost of education. Although home equity may be considered when developing a financial aid program that's right for your family, income is a much more important factor.

"A good way to cut college costs is to live at home."
Reality: This is not always the best avenue to cutting college costs. Make sure to calculate parking & commuting costs when deciding how to reduce your expenses.