We’re back for another week of crazy financial aid news. Take a look at some of the headlines that caught our attention this week.
A surprise to no one — women have more trouble asking for college money
Fidelity released a study this week focusing on how hard it is for students to ask their family members, primarily their grandparents, for money to go to college.
64% of students said they wouldn’t be comfortable asking their grandparents for money, even if it meant they wouldn’t have to take out as many student loans.
Not surprisingly, women were 10% more likely to be uncomfortable with asking for money than men. You can read the full study here.
It’s hard to reach out to family when you’re in need of money for college. There aren’t many people that would be comfortable asking for help for such a large expense. But sometimes, your family is the best resource to reach out to when you really need help. We even wrote up some tips on how to ask for money and have those difficult conversations.
So, get out there girls (and guys)!
Please don’t hack the President when you file your FAFSA®
You might think we’re kidding, but two college students recently use the FAFSA® to attempt to hack the President’s tax records.
Rather than getting a sweet financial aid package this year, they’re looking at prison time. So, maybe just use your FAFSA® application to file for grants and aid programs. Free money for college is definitely the more desirable option.
Don’t forget that the 20/21 FAFSA® year opens on October 1st.
Everyone still thinks FAFSA® is way too confusing
Discover Student Loans recently surveyed 1,501 parents of students that are planning to go to college and most of them think that the FAFSA® is too complicated. To make matters worse, most parents don’t understand the significance of submitting the form. Like that it can get their children free money towards college that they don’t have to pay back.
- 97% of families said they plan to complete the FAFSA®
- 43% of parents said they would fill it out on their own
- 37% of parents said they would include their child in the process
- 17% of parents said they’ll leave it up to their child to complete
- Unfortunately, 3% said they wouldn’t fill out the form at all
A lot of the reason families end up not completing the form, or leaving it to their kids to figure out, is because of the confusing way it’s laid out and how complicated some of the questions are.
Just so you know — we feel the same way at Frank. That’s why we’ve worked hard to create a simplified application so all families have access to the financial aid they need and deserve. If you need help, reach out and let us know.