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Financial Aid Policy Summary

Decent Essays
Hossler and Kwon (2015) examined the three shifts that affected financial aid policies at four year public colleges and universities, which were the economy, federal policy and demographic trends. These trends impacted economic conditions during the various periods. The authors reported that the Servicemen’s Readjustment Act of 1944 was the beginning of the federal government’s involvement in providing financial aid to veterans interested in postsecondary education. During the 1940s and 1960s, this initiative caused an influx of students to enroll in college. This led to the expansion of community colleges. These trends aided in the passage of the next wave of federal programs such the National Student Loan Program, the Educational Opportunity
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