Monday, December 28, 2009

College Money and Financial Aid myths

Thinking about college and how to pay for it? Don't believe some of the myths about paying for college.

Private colleges are more expensive-Not always. Many private schools charge more for tuition, but they have more money to give away as well. If you get admitted to a private college, they can offer you more money if they think you are worth it. That way, the out of pocket expenses for college go way down. Read more tips on getting more money from colleges.

I don't need a college education-Maybe. But all studies show that college graduates outearn their non degree counterparts by a wide margin.

Filling out a FAFSA does not do a thing-Wrong. You cannot get any kind of financial aid, including loans and many scholarships without it.

I need to wait for my taxes to be finished-Wrong again. You can file as early as January 1, and can make corrections later if needed. The early college student gets the money.

There just aren't any more scholarships for me-Don't bet on it. College scholarships abound. Read here for help in finding college scholarships.

If you live alone, you are an independent student-Only under certain rules. If you are under 24, single, or a veteran, chances are you do not qualify as an independent student. Read more financial aid information here.

College students should not borrow money-Sometimes you can't help it. And you may need it to get you over the college money hump. But, don't borrow more than you really need. That's what college students should do--only borrow when you absolutely must. Here are tips on student loans.

>>Read more college money tips on scholarships, financial aid, grants, and student loans.

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