The FAFSA Myth (Busted!)
Myth:
Federal Financial Aid (FAFSA) is free money that most students receive to pay for college.
Fact:
The only “free” money given out by the government’s federal financial aid program is in grant programs. These grants only pay a fraction of tuition, are limited to very low income students, and are being considered for reduction by the US Congress in 2012 resulting in fewer students receiving them.
Fact:
86% of Pell Grant recipients also took out student loans because grants cover only a small amount of their total tuition obligation.
Fact:
Scholarship awards are factored in as financial support to determine the total Federal financial aid offered to a student, and so reduce the total award package rather than add to it.
Fact:
The interest rates for a 2nd mortgage on your home can be lower than on Federal Student Loans and are often the preferred method of funding education.
Busted!
Few things in life are free. The effort to locate your own private funding sources, scholarships, and paying tuition as-you-go really does “pay off”!
Step right into class NOW! Call 360-527-0222 or apply online here!
