So you have your financial aid letters in hand. Do you fully understand what they say, and know the terms and conditions of the offer? Many students don’t and realize they’ve made a mistake after acceptance – some don’t realize until years down the line! Here are some debunked financial aid offer myths to help …
Myth: I Can Fully Pay for College With a Few Scholarships
Many parents and students believe the myth that a student can fully pay for college tuition with just a few scholarships. Sadly, this is not the case. While scholarships can definitely be helpful and can go a long way towards paying tuition, it is extremely rare for it to cover the entire cost. Join us …
Myth: I Can Just Reuse Essays On Multiple Scholarships
The essay is arguably the most important component of your scholarship application. It’s a chance to tell your story and help you stand out among all the other applicants. but writing them is also time-consuming. This is where many applicants are tempted to reuse the same college scholarship essay on multiple applications. It’s understandable; so …
Myth: Winning a Scholarship Lowers Your Offer Letter Money
This myth is only partly true. Winning a scholarship will lower your offer letter money. But this ONLY applies to your offer letter money. Which are the funds allotted to you by the school you choose to attend. It has absolutely no bearing on the total amount of scholarship money or any other funding that …
Myth: Student Loan Cosigners Help You Pay Off The Loan
Most college students who take out private student loans will need a cosigner in order to be approved for the funds. So what exactly does a cosigner do when it comes time to repay the loan? Myth: Student Loan Cosigners Help You Pay Off The Loan If you’re hoping the cosigner is a buddy who …
Myth: I Won’t Earn Scholarships Because My Parents Make Too Much Money
When it comes to college, students look everywhere for financial aid. That includes scholarships. Unfortunately, many students fall prey to the myth that because their parents have a certain income, they won’t earn scholarships or even be eligible for many other forms of financial aid. However, that myth costs them significant gift aid money. With …
Myth: Fixed Student Loan Interest Rates Are Always Better Than Variable
As with anything related to student loans, there is no one option that is best for everyone. The best way to decide whether a fixed student loan interest rates or variable student loan interest rates is a better option for you is by weighing the pros and cons of each. Pros & Cons Of Fixed …
Myth: Student Loan Consolidation is the Same as Refinancing
Just because student loan debt consolidation and refinancing are often mentioned together, does not mean the terms are interchangeable. In fact, the two services are quite different. Student Loan Consolidation Consolidate: combine a number of things into a single or more effective whole. That is exactly what student loan consolidation does. It takes multiple student …
Myth: I Don’t Have To Bother Applying For Scholarships Before Senior Year
This is one myth that can seriously derail your efforts at winning free money for college. Waiting for senior year to apply for scholarships is a big mistake. You will have your hands full completing coursework and applying to colleges during senior year, leaving you with very little or no time to look for or …
Myth: If I Match Most of a Scholarship’s Requirements, I Can Still Be Eligible
Submitting a scholarship application is a lot like submitting a resume. You’ll give them your name, your experience, answer some questions, and might even have an interview. So it follows that if you don’t 100% meet all the requirements on a scholarship, you can still submit your application…right? Apply for Scholarship for College Meeting All …
