1. We aren't applying for financial aid
because we know we won't qualify.
Use the Millsaps Early Aid Estimator to
determine whether or not you will be eligible for assistance. More than
90% of last year's entering class received assistance from Millsaps.
2. Financial aid is nothing but loan programs.
A substantial part of financial aid is gift aid (scholarships or grants)
awarded by the College. Typically, at least half of all Millsaps aid packages
are gift aid.
3. Our neighbor didn't receive any financial aid, so neither will
we.
Every family has different circumstances. Don't assume similar situations
without completing an aid application for yourself.
4. We make over $75,000 annually, so there's no chance for us
to get any help.
Family income is only one part of the federal methodology to determine
your eligibility for aid. It is hard to look only at your salary to predict
your aid status.
5. The financial aid forms are so complicated that it's not worth
the time to fill them out.
Instructions on the FAFSA (Free Applications for Federal Student
Aid) are long, but clear. The Millsaps Office of Financial Aid
is happy to
help you complete the forms. Filling out the forms is the only
way to receive need-based aid. The records that you will need to
complete the
federal application (FAFSA) include parents' and student's 2008 federal tax returns, bank statements, and records of untaxed income,
stocks,
bonds,
and investments.
6. You always pay less at a lower-priced college.
Your family contribution stays the same regardless of the college you
choose. Your financial aid may increase as the cost of the college rises
above your contribution. Not all colleges may be able to meet your full
eligibility, but a higher-cost college may offer you more aid than a lower-cost
college, giving you the choice of college.
7. It takes a genius to get a scholarship from Millsaps.
Millsaps' scholarship programs are designed to recognize a wide variety
of kinds of students who have many different talents to offer the college
community. Anyone who feels he has something to contribute should apply
for a scholarship, as we look at the total record of accomplishment and
potential, not just test scores and GPA.
8. Two years ago my older child didn't get aid at another school,
so why should we try here?
Until you apply for aid at Millsaps, you won't know whether or not you
are eligible for receiving financial assistance. Formulas for determining
aid may differ from college to college, as will availability of funds
and college budgets. All of these factors effect eligibility.
9. If I want an academic scholarship, I can't apply for need-based
aid, too.
We encourage all families who are concerned about costs to pursue all
avenues of possible assistance. There is no problem with applying for
an academic scholarship as well as for need-based aid.
10. Millsaps is too expensive - there's no way we can afford it.
The only way you can be certain that you will not receive any assistance
is to decide not to apply. Rather than focusing on cost, think of the
value of a Millsaps education as seen in our small class sizes, personal
attention, and the success of our graduates. Our strong scholarship and
financial aid programs help make Millsaps financially feasible for many
students who are seeking a quality liberal arts education.
