The Myths and Realities of Paying for College
Paying for College
43
Myth: I cannot afford  
to attend college.
Myth: Since public universities 
have lower tuition than private 
colleges, I should not consider 
applying to a private university.
Myth: Financial aid is free money 
that does not have to be paid back.
Myth: My parents will not pay for 
my college, so I can declare myself 
independent to get financial aid.
Myth: My grades are not high 
enough to qualify for financial aid.
Myth: Taking student loans  
will ruin my chance to be  
financially stable.
Myth: If I am undocumented,  
I am not eligible to receive any 
financial aid.
Reality: This is the biggest myth about college.  
In reality, the net cost of college has decreased in  
recent years. Sticker prices have increased, but the  
cost to students and families has not. Scholarships,  
grants, loans, and Work-Study make college affordable  
for many students. See pp. 44-45 to learn more about  
the different types of financial aid.
Reality: Many private colleges and universities offer comprehensive 
financial aid packages to low-income students, often making them more 
affordable than public institutions. Learn more about a college’s financial 
aid policies on its website.
Reality: While financial aid includes grants and scholarships which do 
not have to be paid back, it also includes loans, which must be paid back 
with interest, and Work-Study, which must be earned. Most financial aid 
packages are a combination of the various types of aid.
Reality: There are strict federal, state, and institutional policies to  
determine a student’s dependency status for financial aid purposes.  
A student cannot simply choose to be considered an independent  
student. Use this tool to determine which parent(s) should contribute  
to your FAFSA: www.studentaid.gov/fafsa-apply/parents.
Reality: Most federal aid is based on financial need, not academic 
achievement. Learn more about financial aid eligibility on the Federal  
Student Aid website: www.studentaid.gov/understand-aid/eligibility.
Reality: If you manage loans wisely, they are an investment  
in your future. A college degree can increase your earning potential.  
Learn more about federal student loans at www.studentaid.gov/ 
understand-aid/types/loans.
Reality: The FAFSA form does not ask about your parents’ citizenship 
status. While it is true that undocumented students are ineligible for  
federal aid, you may be eligible for state aid depending on where you live. 
In addition, private colleges and universities may have financial aid available 
for you, and many private scholarships can provide aid. Learn more at  
immigrantsrising.org/resource/list-of-scholarships-and-fellowships.

View this content as a flipbook by clicking here.