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MYTH #1: "We make too much money - my student won't qualify for aid."
REALITY: There is no income cut-off for federal student aid. A student's aid eligibility is not strictly based on family income - other factors such as # of people in the household & # of family members currently attending college - are taken into account.
** ALL STUDENTS who file the FAFSA are at least eligible for unsubsidized loans.
MYTH #2: "My student will not be taking out loans, so there's no reason to file the FAFSA."
REALITY: Filing FAFSA doesn't require students &/or parents to take any of the aid offered to them. However, filing the FAFSA can give students access to federal grants (if student qualifies) which don't need to be repaid. Moreover, many colleges use the information provided on FAFSA to determine who will receive their grants & need-based scholarships. Without FAFSA on file, aid is not available to students in the event that their situation changes & the student finds that they need funds.
MYTH #3: "I don't want to give out my personal tax information, so I'm not going to file the FAFSA."
REALITY: The information you provide on FAFSA is highly protected & is no different than filing or accessing your tax information through the IRS online. FAFSA.gov is a secure government website. Filing the FAFSA will not increase your chances of getting audited, & the information provided on FAFSA is almost entirely the same as the information already provided to the IRS when filing taxes.
MYTH #4: "My student will only be using scholarships to pay for school, so they don't need to file the FAFSA."
REALITY: A number of scholarships including many provided by individual colleges & local community foundations, require students to file a FAFSA to be considered.
Source: MICHIGAN COLLEGE ACCESS NETWORK
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