If I had a nickel for every time that I heard this super self-defeating myth, I would be able to pay for you to go to college!

The first truth: Very few moms or dads can afford upwards of $ 60,000 out-of-pocket for their children to go to college!

The second truth: Most students apply for and receive financial aid, especially the kids whose parents really cannot afford to send them to college.

My advice: Dry your tears and go to the FAFSA financial aid eligibility FAQ! After you submit your FAFSA, you will immediately receive a ballpark "Expected Family Contribution" calculation on the confirmation page. If after applying for federal aid, scholarships and student loans and you are still "up a creek" financially, explore community college options which are often roughly half of state university tuitions!

The Myth:  College admissions is a piece of cake if you have a monogrammed sweater or a crest-emblazoned blazer.

The Truth: College admissions departments across the country will draw at least half of their enrolling classes from public schools.

Getting into college is not like gaining access to Willy Wonka's Chocolate Factory! It is competitive, but there is no golden ticket. Colleges want diversity in their student bodies,and they are seeking applicants who excelled in the toughest classes that were available from all types of schools.

In fact, one of the reasons that colleges work with programs like My College Options® is to find students who are different than those who normally apply to their schools. They want to find students from all types of backgrounds that may not otherwise find them! When colleges find you, make sure that you have done everything within your power to be the best applicant for the position.

Don't cheat yourself with self-defeating financial aid myths! According to Sallie Mae, the number of people attending college in a family is a determining factor in awarding financial aid. So even if your brother or sister didn't get any aid, they may have tipped the family budget balance in your favor.

The only way to know for sure is to fill out the FAFSA. It's free and so is the government aid you may be qualified to receive. Just make sure you don't get suckered into paying someone else to file for you. FAFSA is always free- no "professional" has special access to government dough, so don't let "financial aid consultants" take yours!

Think your family income is too high for you to get aid? Not sure if you can get assistance as a part-time student? Sallie Mae debunks these myths and more on their website.