Billions of dollars in financial aid are available to those who need help paying for college. Yet a lot of misinformation clouds the facts about what type of aid is available and who is eligible. Here are some myths dispelled for those confronting the process of securing financial aid

A. Direct Educational Costs

Tuition costs vary considerably from school to school, and higher costs don’t necessarily ensure a better educational experience for your child. While most public institutions cost less than private institutions, residency matters. If you are not a resident of the state that the public university is in, your tuition costs may be comparable to those of a private school. In fact, tuition and required fees for out-of-state students at some state universities are higher than at some private colleges.