Financial Aid Myth 1: “Financial aid is only awarded to minorities and women”

FACT: Everyone has the opportunity to receive financial aid regardless of their ethnicity, race or gender. Now, there are some private scholarships available exclusively to minorities and women. However, the overwhelming bulk of federal student aid, state aid, school aid, and some private scholarships is not tied to students from a particular ethnicity, race or gender.

In fact, money from the federal student aid programs, which is the largest sources of financial aid, does not take into consideration students’ race, ethnicity or gender. When you fill out the FAFSA, you will notice that it does not ask you about your ethnicity. Federal student aid, state aid, and most school aid is awarded to students based on financial need.