Families, Be Careful Where You Obtain Your Financial Aid Information
Whether you call them the MyPod Generation, Multi-Tasking Generation, Generation M (for media), Generation D (for digital), or simply Millennials, college-bound high school students greatly depend on the Internet for information. This ever-growing dependence on the Internet has huge advantages such a mass access to information and the convenience of learning and researching at one's own pace. However, the knowledge families gain from the Internet is only as good as the source providing the information.
The latest numbers--estimates at best--place the total number of unique Web sites at around 100 million. To put that in perspective, if a user spent 30 seconds on each unique Web site, it would take that person over 95 years to view each and every site. Of course the total number of useful sites is much lower and the total number of both useful and accurate sites is lower still.
"When viewing information on the Web, it's tempting to assume that if it's in writing, it must be right,' explains Linda Conard, director of communications with the National Association of Student Financial Aid Administrators (NASFAA). "But given the complexity of student aid and the potential for fraudulent or misleading information that can be a rather dangerous assumption."
While no official studies have been conducted to determine the total number of useful and accurate financial aid sites, parents and students need to understand the hazards of false and/or misleading financial aid information found on the Web. Quality of financial aid Web sites vary greatly and students and their families should consider the following when seeking student aid information:
Beware of Misinformation
Many Web sites are designed to be informative, but are maintained by individuals with limited understanding and expertise in student aid. Even sites developed with the best of intentions sometimes leave out important details that can make a world of difference to students. For example, in a quick online search, NASFAA found several bloggers dispensing misleading financial aid information. One blogger writes that "EVERY student should consolidate BEFORE their grace period ends." Another tells her readers, "And unless [your parents] make A LOT of money, chances are you will be eligible for a student loan."