Warn Your Students Against Financial Aid Myths
September 24, 2007Prevent your students from adding years to their student loan repayment schedule. Bankrate.com offers up some more good advice for your college-bound students. Cheryl Allebrand’s “13 Financial Aid Traps” is as much for parents as for their kids, and dispels several (thirteen, in fact) myths about getting more funding for college.
Allebrand lists mistakes ranging from withdrawing money from retirement accounts to using credit cards as a means of establishing credit to impress financial-aid types (and not running up credit card debt is darn good advice for anybody. Not that I’d know from experience or anything).
It’s all good advice, but I worry about the next generation if there are myths floating around like, “Get married to achieve independent status” for the FAFSA. -BILL FERRIS
