Financial Aid Common Misconceptions

I belong to an elite group of individuals.  We call ourselves Financial Aid Administrators. 

Students tend to hate us.  Why?

Because we tell students all the things they must do to receive financial aid. 

Or we tell students why they aren't eligible to receive financial aid. 

Or, we tell students how long it's going to take for them to receive the financial aid they are eligible for. 

Or a combination of those three statements, often creating much confusion.

Sometimes students form misconceptions about FAA's (financial aid administrators) and the financial aid process.  I thought I'd list for my blogging audience the most common financial aid misconceptions, to, if at all possible, clear them up, and to possibly provide a giggle or two. 

Or, even better--to make you remember your days standing in line at the Financial Aid office and truly wish that you had shown the people working in that department more love.

1.  The Financial Aid department does not make more money if you receive less in aid.  The inverse is true as well.
2.  The Financial Aid department does not make rules up as we go along.  We enforce state, federal, and institutional guidelines.  That is why they call us aid administrators.  We, uh, administer them.
3.  Financial Aid officers, advisors, and counselors want to help you get money for school.  If you're not eligible, it's not because we don't like you.  We do what the government tells us to.
4.  If your financial aid is terminated, it does not mean that a member of the Financial Aid department has a personal vendetta against you.  Chances are, you're not meeting pre-determined guidelines for academic performance. 
5.  The Financial Aid department does not collect guarantor fees, nor do they collect interest on your student loans.  To clarify another very common misconception--the department also does not "keep" refund checks so that advisors can collect the interest in their personal bank accounts.
6.  Financial Aid administrators are indeed human.  Not alien life forms.
7.  If you lie on your FAFSA, you really can get caught.
8.  The proper terms are:  award letter, disbursement, and refund check.  Not reward letter, refund letter, disembursement, reimbursement, disembowlment, stipend check, or reward check. 
9.  If the regulations and processes to receive financial aid this year are different from last year's process, you can bet that it wasn't us in the Financial Aid office who changed it up on you.  Call Uncle Sam.
10.  To follow up on #9, we here in Financial Aid try to make your life easier, not harder.

I have been working in Financial Aid for almost three years. Many in this field work for decades and decades helping students.  I have had the opportunity to be asked some charming questions from some very precious students.  I wanted to share these things today, because I just enjoy revisiting the memories.

Student:  "Hey miss?  Don't you get depressed, doing financial aid all day?"

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Student:  "I was wondering when my loan disembowlment will go through."

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Me:  Do you provide more than 50% support for a child?
Student:  "Like, my baby?"

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Student:  "My income has deceased this year compared to last year."

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Me:  "What happened beyond your control this past Fall to contribute to you not meeting SAP guidelines for academic performance?"
Student:  "I had a baby."

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Me:  "What happened beyond your control when you last attended here at this school in 1990 to contribute to you not meeting SAP guidelines for academic performance?"

Student (in a surprised tone):  "I was young then!!!"

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The end.




Adios, blogamigos!  I'm off to think about other things besides financial aid.  Or maybe not.