|
Before you give up on
the book bucks, learn the truth about financial aid.
College Money Myths Shattered!
By Dawn Kessler
December 2001
The CollegeBound Network NewsClick -- First, the bad news: According
to the College Board's annual Trends in College Pricing report,
college tuition and fees increased between 5.5 and 7.7 percent at
four-year institutions. Now the good news: More aid was given out
to students last year than ever before, totaling over $74 billion.
Think there's none for you? Think again!
"There are many misconceptions about
college financial aid," says Harold Burtley, director of financial
aid at Northwestern Business College, Chicago, IL. That's not a
surprise when you consider how complex the cash collecting process
can be. Luckily, however, Burtley gave NewsClick the lowdown
on money myths, proving that college cash can be yours!
* Feeling like you're stuck in the middle of the financial
aid food chain? Not to worry, says Burtley. "Students from
middle-class families regularly qualify." That's because there
are various federal and state loan and grant programs to meet the
needs of students of all income levels, he explains.
* If you've given up on attending a private school because
you think you can only get state and federal aid for a public school
education, you're missing out. "Private colleges are just as
capable of subsidizing a student's education through state grants
as public universities," assures Burtley.
* As sad as it may seem if you were hoping to stay debt-free,
being eligible for a Federal student loan is considered part of
financial aid. Why? As Burtley explains, "Offerings like the
federally subsidized Stafford Loans and Parent Plus Loans offer
lower interest rates than those available through banks or credit
unions."
* Are you dreading facing the financial aid application process
alone? If so, that's another misconception you can put aside. "Help
is available from the admissions or financial assistance offices
at the school of your choice," says Burtley. "Most will
[even] walk you through the entire process, as well as counsel you
about the programs available for their particular financial situation."
Of course, you will have to be the one to ask.
The common thread here? Asking the right questions and doing your
research will help you make a financially-educated higher ed' decision.
|
