Oklahoma State University - Tulsa
Oklahoma State University - Tulsa

Financial Aid Myths

Let us help you dispel myths about applying for financial aid.

Myth 1: My parents make too much money for me to qualify for aid.

There is no income cut off for federal student aid. How much money your family makes is one of many factors that determine your eligibility for federal grants, loans or work-study funds.

Myth 2:  I need to file taxes before completing the FAFSA.

You can use estimated information on your FAFSA so you will be able to submit it before you file taxes. In fact, many states and schools have financial aid deadlines well before the tax deadline so completing your FAFSA early is a good idea. You might want to base your estimates on last year's tax return. Once you file your taxes you can log back in and update the information. You may even be able to use the IRS data retrieval tool to automatically import your tax information into your FAFSA. Note: this may change the amount of your financial aid that was based on an estimate.

Myth 3:  The FAFSA is too hard to fill out.

Completing the FAFSA online at fafsa.gov takes only about 30 minutes with easy step-by-step instructions for every question. If you do get stuck, live help is available by web chat, email and phone.

Myth 4:  My grades aren't good enough to get aid.

Eligibility for most federal student aid programs is not linked to your academic performance; however, you will need to maintain grades that your school considers satisfactory in order to continue receiving financial aid.

Myth 5:  My ethnicity or age makes me ineligible for aid.

Federal student aid is not given out based on your ethnic background or your age.

Check out scholarship opportunities available through OSU-Tulsa.

For more information email tulsa.financialaid@okstate.edu or call 918-594-8273.