Financial Aid Myths and Misperceptions

Myth: My parents make too much money to qualify for financial aid.

Reality: There is no income limit to qualifying for financial aid. Many factors aside from income are taken into account when determining your eligibility.

Myth: Only students with good grades get financial aid.

Reality: While a high GPA does help in qualifying for an Albion scholarship, good grades do not have any impact on your eligibility for need-based financial aid (grants, loans, work-study).

Myth: Only minorities receive financial aid.

Reality: Need-based financial aid funds are based on your financial eligibility, not on any other factor. The FAFSA doesn’t even ask for information regarding race or ethnicity.

Myth: The forms are too hard to fill out.
Reality: The FAFSA is easier than ever, especially if you fill it out online at www.fafsa.ed.gov. There are detailed instructions for every question, step by step.