Common Misconceptions About Paying For College

Career College Central summary:

  • In reporting on students of college costs and financial aid, we keep running into misconceptions about paying for a degree. Here are some of the most common ones: Low-income students get most of their college financial aid needs met and rich kids don't have to worry, so it's mainly the middle class that gets squeezed.
  • It's a common misperception and "it's simply not true," says Lauren Asher, president of The Institute for College Access and Success, an independent, nonprofit research and advocacy group. Take Pell Grants, which go to low- and moderate-income families. A majority of Pell recipients are families with incomes under $50,000 a year. Those students "are much more likely to have loans and to owe more when they graduate from a four-year school than all other students," she says.

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