4. Myth: Only the Top Students Receive Financial Aid
Truth: If you are admitted and show financial need, colleges will make it possible for you to pay for it with grants, scholarships, and loans regardless of how great of a student you are. The only time this myth may be true is when it comes to merit-based scholarships.
Dave says: There has been a significant move in recent years to meet the financial needs of economically disadvantaged students. In fact, if you are fortunate enough to be admitted to some of the most highly-rated (yes, “ranked”) schools (Ivy League or Top 25), and your family income is below a certain level — $65,000, for example, at Princeton University — you’ll enjoy an essentially free college ride. Don’t let “sticker price” scare you away from considering certain colleges.