If you're going to enroll in school, there's a good chance that you will have to apply for financial aid. While you might know what this entails in the general sense, you may be unaware of the numerous myths circulating about it. Fortunately, Robert Jain and others will be able to help you realize some of the myths in question. By the end of this piece, you'll have a better understanding of what financial aid is truly about.
"One doesn't have to fill out the FAFSA multiple times." This is one of the most common myths regarding financial aid that the air should be cleared on. Keep in mind that the amount of financial aid that a student requires is likely to be different from year to year. What this means is that, in actuality, one may have to fill out the FAFSA multiple times. This is just one of the many financial tips that names like Bob Jain can provide.
"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.
"Once you receive your financial aid package, you can't make changes." In fact, you can make certain adjustments to your financial aid package if you believe they're needed. These run the gamut from the specific amount you've been given to the personal information listed. All you have to do is contact your school, draw their attention to any errors, and see what can be done to amend them. Financial aid packages are more flexible than most realize.
"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.
"One doesn't have to fill out the FAFSA multiple times." This is one of the most common myths regarding financial aid that the air should be cleared on. Keep in mind that the amount of financial aid that a student requires is likely to be different from year to year. What this means is that, in actuality, one may have to fill out the FAFSA multiple times. This is just one of the many financial tips that names like Bob Jain can provide.
"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.
"Once you receive your financial aid package, you can't make changes." In fact, you can make certain adjustments to your financial aid package if you believe they're needed. These run the gamut from the specific amount you've been given to the personal information listed. All you have to do is contact your school, draw their attention to any errors, and see what can be done to amend them. Financial aid packages are more flexible than most realize.
"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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Please consult Bobby Jain for further details about what you've just read.. This article, Robert Jain: The Most Commonly Spread Financial Aid Myths is available for free reprint.
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