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13. Myths About Financial Aid:




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This article is from the Financial Aid, Scholarships, and Fellowships FAQ, by Mark Kantrowitz with numerous contributions by others.

13. Myths About Financial Aid:

1. Won't the government take away our home if we apply for aid for our
children's education?

No. Absolutely not. This myth seems to be pervasive, and causes
many families to avoid applying for financial aid. The government
does NOT take away your home when you apply for financial aid.

2. All financial aid packages include term-time work, and working
while trying to study is bad.

First of all, numerous studies have shown that a small amount of
term-time employement (10 hours per week) improves academic
performance. Secondly, you can always refuse the work-study aid
and pay for the expenses covered by that aid through other means,
such as loans and summer employment.

 

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previous page: 12.3. My parents are divorced, and the parent I'm living with has remarried. Does my step-parent have to report his or her income and assets on the FAFSA?
  
page up: Financial Aid, Scholarships, and Fellowships FAQ
  
next page: 14 Answering Your Questions