FinAidFeb: Mythbusters
In the spirit of FinAidFeb, we've put together a few common financial aid misconceptions for you to share with your students. Feel free to update the text as you see fit, download and share the graphics, and direct your students to applicable resources.
Myth: Submitting a FAFSA is too complicated and not worth filling out.
The truth is: You should complete the FAFSA. It is faster and easier than ever to fill out, with most students and families completing it in less than 15 minutes.
Myth: The financial aid office doesn't tell students about all their options because they want students to take out loans.
The truth is: College is an investment, and every student’s situation is unique. The financial aid office wants you to succeed and is filled with advocates who will ensure you understand the various federal grant, work-study, and loan options.
Myth: I won’t qualify for financial aid, so I shouldn’t fill out the FAFSA.
The truth is: Many students are surprised to learn they qualify for financial aid, regardless of income and grades. Filling out the FAFSA is the only way to know for sure.
Myth: I will receive the same financial aid offer each year.
Truth is: Remember to complete the FAFSA every year. Each application re-evaluates your financial situation, which can change your aid options. Ask your aid office for more info!
Related Content
Fundamentals of Student Financial Aid - July 2026
NASFAA Quiz Show: Test Your Financial Aid Knowledge
How to Comment: Participating in the Public Comment Process
Changes to Parent Loans: What New Parent Borrowers Need to Know
Changes to Parent Loans: What Current Parent Borrowers Need to Know
Book Review: “Gen Z, Explained: The Art of Living in a Digital Age”
Student Communication Checklist for Federal Student Aid Changes From the One Big Beautiful Bill Act
Ten Key Messages for Financial Aid Awareness Month
Celebrate and Learn During Financial Aid Awareness Month
Student Aid by the Numbers - FinAidFeb 2026
Book Review: “The Student Debt Crisis: America’s Moral Urgency”
2025 Year in Review: The 10 Most Downloaded “Off The Cuff” Episodes
NASFAA Members Reflect on Opening 2025-26 Advocacy Pipeline Meetings
2025 Year in Review: NASFAA's 10 Most Popular Original Articles
OB3 Loan Changes Planning & Implementation Checklist
Book Review: “Is College Worth It and the Myth of the College Premium”
Impact of 2025 Tax Law Changes on Young Doctors
The College Cost Transparency Initiative Welcomes New Member Institutions
Book Review: “Metrics That Matter: Counting What’s Really Important to College Students”
Meet the New Certified Financial Aid Administrator® Commission Chair, Elizabeth Amador, FAAC®
Financial Aid Day 2025 Social Media Graphics
Basic Needs, Real Costs: Collaborative Care
Cyber Incident Forces Louisiana to Pull Financial Aid Systems Offline
ICYMI: Financial Aid Communication Strategies That Save Time
Basic Needs, Real Costs: Pantries to Policy
Basic Needs, Real Costs: The Price Beyond Tuition
2026-27 Financial Aid Night Toolkit
Financial Aid Night Presentations
ED Rescinds FWS Guidance Concerning Voting Registration Efforts
NASFAA Grad Prof Borrowing Thought Force Develops Advocacy Principles
Tips to Help Students in Unique Situations and Populations
Tip Sheet for Undocumented Students
Building Trust in Aid Offers: Transparency, Public Perception, and the CCT's Impact
Effective Communication Strategies for Financial Aid Administrators in Leadership Roles
Affirming Low-Income Hidden Identities in Higher Education
Prison Education Programs: Resolving the Complicated Questions
Advertisement