Every year, thousands of students miss out on free financial aid due to incorrect information. Some of the things you often hear are “My parents make too much,” or “FAFSA is only for loans,” and they never even fill out the form.
Here’s the truth: the FAFSA (Free Application for Federal Student Aid) is for everyone who wants to pay less for college by taking advantage of federal financial gift-aid and skipping it could potentially cost you thousands unrealized financial aid. Let’s clear up the biggest myths once and for all.
Myth #1: “We make too much to qualify for financial aid.”
This assumption is a top reason many families skip the FAFSA, and it’s almost always wrong.
Even if you believe your family’s income is too high for financial aid, you may still qualify for federal or state grants, work-study programs, or school-specific scholarships that school’s require a FAFSA to be on file to receive.
Colleges also use your FAFSA information to decide merit-based aid and institutional awards. So even if you don’t qualify for need-based help, filling it out still helps you get money you don’t have to repay.
Truth: The FAFSA determines your eligibility, not just need-based grants. Always file.
Myth #2: “I can’t apply without my parents’ tax info.”
Don’t wait to start your FAFSA! You can begin filling out your form and update your tax data later using the IRS Direct Data Exchange.
If your parents haven’t filed yet, or you’re waiting for their information, go ahead and prepare the rest of your form, including your name, schools, and demographic information.
Truth: You can start now and finish later. Waiting only delays your chance at free money.
Myth #3: “The FAFSA is only for loans.”
This one couldn’t be further from the truth. The FAFSA is your key to grants, scholarships, and work-study, money you typically don’t have to pay back.
Filling out the FAFSA doesn’t mean you’re agreeing to borrow money. It simply gives you access to the widest range of aid possible.
Truth: FAFSA unlocks all types of aid, not just loans.
Myth #4: “Private school students can’t apply.”
Whether you attend a large state university, a small private college, or an online program, if the school has a federal school code, you can include it on your FAFSA.
Private schools often use FAFSA data to offer their own institutional grants and scholarships. Sometimes, those awards are even larger than public-school aid packages.
Truth: Any accredited school that participates in federal aid programs can be listed on your FAFSA.
The Bottom Line
Don’t let myths stop you from getting the money you deserve. The FAFSA is your ticket to federal grants, state aid, and scholarships — and every student should file, no matter their income or school type.
Start early, double-check your info, and hit submit. Your future self (and your wallet) will thank you.
Cash the Corgi says: “Free money for college? Don’t skip the form that gets you there.”
Helpful Tools from Edvisors.com
- 🧾 FAFSA – Make sure you have everything you need before filing.
- 💳 Financial Aid Gap Calculator – Find out how much more you’ll need to cover.
- 🎓 Scholarship Search Tool – Discover scholarships that fit you best.
