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Not to a state school like ASU or NYU. To a private school it might hurt your chance a lot.

I had the same question and found my answer here on this fafsa link:

http://www.fafsa.ed.gov/faq003.htm

I also called a number off of the fafsa website and they told me only a drug conviction has an affect on financial aid eligibility.

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Q: If you have a misdemeanor on your record is it hard to get financial aid for college?
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