There are a lot of rumors floating around out there about financial aid that simply are not true. Don’t get discouraged, chances are that you’re eligible for some forms of student financial aid!
It is true that college tuition is rising BUT it is also true that financial aid opportunities have remained widely available. Billions of dollars are available every year. A lot of this money comes in the form of low-interest loans and/or institutional grants.
Colleges and universities know that every student’s financial need is unique. Don’t fall into the trap of letting go of the idea of financial aid because you feel you are not as “needful” as others. Colleges consider many things when assessing need: parent’s mortgage, number of dependents and/or other children attending college, unusual amount of medical bills, etc. What this means is that even if your parents’ income is substantial you still could qualify for financial aid.
Another nasty rumor that may deter you from a private school is that their tuition is way too high and therefore not even worth considering due to cost. True the tuition is high but because of that they often offer more financial aid because the need is greater.
It is important to remember that student financial aid comes in a variety of options. You don’t have to be a merit scholar or straight “A” student to qualify for financial aid. The bulk of federal aid is dependent on financial need and not academic success.