| One of the many myths we hear is that parents | | | | Secondly, if you think doing your taxes every year is |
| believe their income is too high. Granted, a high level | | | | complex and time consuming let me introduce you to |
| of income will not help you qualify for a large sum of | | | | another phase of government you will love to hate. |
| free financial aid, but you need to understand that | | | | The colleges pray that you will go through this entire |
| income is only part of the equation. The overall | | | | process unarmed and will take advantage of your |
| formula used by the Department of Education is | | | | ignorance. Going to them for help is analogous to |
| complex and confusing. Do not let a high level of | | | | going to the IRS to complete your taxes. Yes, they |
| income deter you from attempting to qualify. | | | | will do them - but in whose interest are they |
| Another often heard excuse is "my student's grades | | | | working? |
| are too low". Unless your child is failing, aid has | | | | Those who know and understand the process win |
| nothing to do with grades. The intricate government | | | | the financial aid game. To master this game you'll |
| formula simply does not include grades. If your child is | | | | have to maneuver the complex formulas, rules, and |
| failing, would college be a wise pursuit anyway? | | | | regulations the Department of Education has devised. |
| Sixty-five percent of American families own their | | | | This information is not readily accessible and provides |
| own home. One of the myths is that this eliminates | | | | no guidance as to the best way to ultimately pay for |
| families from aid consideration. Again, this is baloney. | | | | what is referred to as the "expected family |
| On the federal aid form (FAFSA) you will not find a | | | | contribution". |
| space to insert information about your home. | | | | Professional college planners offer parents the |
| "Aid is only for special groups" is another popular | | | | opportunity to tap into their expertise at a nominal |
| argument. Again, the formula for qualifying does not | | | | cost. You'll benefit by sending your student to college |
| ask about where you are in relation to society - the | | | | for a reasonable amount of money while fully |
| criteria are strictly based on certain financial numbers | | | | complying with all forms and procedures. And, you |
| the Department of Education requires. | | | | can accomplish this without going broke. By |
| Probably the biggest misconception we hear is that | | | | employing professionals, you'll achieve peace of mind |
| guidance counselors and financial aid officers (or your | | | | knowing that everything that could possibly be done |
| accountant) can do all of this for you because it is an | | | | for your child is covered. |
| easy process. First of all, it is not an easy process. | | | | |