Financial Aid Research Paper

Many middle to lower class families cannot afford to send their kids to school and with Ivy League schools like Harvard and Princeton giving out generous financial packages to their student, who mostly come from wealthy background. The poorer students are on the losing end because they are not given the opportunity for aid. As Terry Hartle, the senior vice president of the American Council of Education, says, "Smart poor kids go to college at the same rate as stupid rich kids." What this is saying is that the wealthy families have vastly more opportunity to succeed in the college system even though they have equal or lesser smarts. Well respected schools such as NYU are now admitting students based on the financial fit not by merit.

College tuition is a heavy stressor for many students coming out of high school and tuition continues to rise each year as does competition. Furthermore, students who are more privileged and have parents who earn a higher income have a higher advantage to go to the college of their choice rather than student’s with lower income. In addition, more debt will be put on the student with lower income; as a result, the proposal of correlating income to tuition cost is necessary and will benefit the lower-income students who are put at a disadvantage. All in all, equal opportunity will be given to students, less stress and debt after college graduation will be present, and students will be able to attend the college of their preference regardless of income.

College tuition has skyrocketed over the past decades making the pathway to college less accessible to low-income families. According to the

For students to have an opportunity to have a high quality education, many do not have the assistance to afford or navigate their way in college. Such as the first generation entering college with not enough

money to pay for their education. Colleges are very expensive and need to start looking at it on the student perspective. Students who are graduating from high-school barely come out with less than $3,000 or less.WIENER, J. (2015) Not Every individual is able to pay for college and this just isn't fair. A high percentage of students are independent while in high school and are forced to work because of their parents low income. What happens to that student? Smart in academics, good athlete but because they cannot pay for their proper education they are forced to forget about their dreams.

For many in the middle class student debt has a strong and relentless grasp on their economic future. In their article "Why Free Higher Ed Can't Wait" Jeje Biola and Belinda Rodriguez state that, "Student debt has reached a record total of over $1.3 trillion" (6). This has left many people wondering where this is coming from and wanting change. This number is just too high in the minds of the average American. In the last few years free college tuition has been a hot topic in American politics, as recently as the 2016 presidential race. Candidates such as Bernie Sanders and Hillary Clinton proved to be a huge push for free tuition. The raising college tuition rates effect all Americans in some form or fashion, so support is quickly rising especially

A college education is the road to get out of poverty. However it is expensive, and the lower class can not always afford it. It seems like the rich get a good education and remain rich for generations, while the the poor can not pay to get an education, so they remain poor for generations. The gap between rich and poor would get bigger if this trend was real, but the government wants to give everyone a chance to pursue happiness, so there are many scholarships and grants the poor can get to get a good education. Now there is a question whether college tuition should be based on income? No it should not because all this would do is hurt the rich, the poor already get a plentiful help to get whatever education they want.

The U.S. government has created a new strategy to make colleges more affordable for low income students. Federal student aid’s primary goal is to help as many students attend college as possible. Financial aid and Pell Grants help low income students who meet certain academic criteria cover the costs of tuition. Low income students are getting a chance to attend college and increase graduation rates from four-year institutions to help close the poverty gap. Colleges and universities should make low income high school students aware of programs that will help them enroll and afford their education. Schools teach low income students that college is a key to their financial independence and a better life. High schools teach Seniors that in order to improve your social standing, employment options and salary expectations, a college education is often necessary. Financial aid is central to the successful enrollment and retention of low-income students. The majority of these students (90 percent) getting financial assistance from government. By maximizing Pell grant award amounts for low-income students, reforming the student loan program, and eliminating bank subsidies, colleges and universities can be affordable.

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If one applies for financial aid than that is wonderful because its free money, but one would have to qualify and one of the qualifications is low income. For those people who are not low income but still aren’t in a state in which they have wealth turn to loans. People apply for loans to help pay for their tuition, books, dorm, etc. and end up having to pay $30,000.00 in student loans after they graduate from college. If the tuition proceeds to increase than people will continue to borrow more and more money in which they’ll be paying off for the rest of their life. People are going into debt because their monthly student loan payment is too much and they are not making enough to pay it off. LA Times did an article which featured a man who have a wife and two children and owe $158,000.00 in student loans. The Man doesn’t have a nice enough job to pay off his loans and provide for his family. In the same article LA Times claimed that the amount of student loans expanded 76% or rather 1.2 trillion since 2009. According to the institute for college access and success site there was a two present growth rate from 2012 to 2013 from the graduates who were in debt after going to public and nonprofit colleges. Also 7 out 10 graduates from public and nonprofit colleges in 2013 ended up being in debt because of student loans. According to the presented site above New Hampshire’s average debt is $32,795 and state wide ranks #1 with a portion debt of 76%. If the

Middle class families have been finding it difficult these past years to pay their college tuition because of how rapidly the price of tuition has increased. Keith Ellison states in his article “The Argument for Tuition-Free College” that “Cost of attending a 4 year college has increased by 1,222% since 1978”. College tuition has risen at rate faster than we could afford, making it more difficult for middle class families to find the funds needed to give their children a college education. You will think that families making at least $100,000 a year would find it easy to cover tuition costs for their kids but in fact it’s the exact opposite. According to EAB’s article “Think Your College Is Affordable for Middle-Class Students? You'd Be Surprised” it

However, the NCES report also suggests that in the past years the number of students applying for financial aid for different levels of education (1-2). It is a concerning thought, the increase in the need for financial aid shows that financial instability is spreading which will negatively affect the economy in the long run. Thus, spending over 120 billion dollars on the policy that promotes economic downfall seems unreasonable as well as putting students under more financial pressure by providing them loans they will struggle to repay. So, the new education policy would allow more student to persuade their degree and secure their future as well as allow to increase spending somewhere else after the cut on the financial aid—for example,

I spoke with the Financial Aid department from Bear office and they don't have on records any proof of income provide by the patient. The Financial Aid department will be contact the patient today and advise the patient that he need to bring the required documentation so we can updated his scale. At this moment this is a valid patient balance until the patient provide the proof of income.

According to Katey Troutman, 04 Apr. 2016, the average middle class family makes about 52,000 a year. At most public universities, only about 19 percent of full-time students earn their bachelor’s degree in about four years. Studies show that only 59 percent of students who began as freshmen at a four-year college in the fall, received their diplomas within six years. Across the nation, only about 50 of more than 580 public four-year institutions graduate a majority of their full-time students on time. Most students are smart enough to go to a community college to get their general education done, and then go onto a bigger college to finish getting their degree. The problem with community college is that five percent of full-time students earned an associate degree within two years, and 15.9 percent earned a one to two-year certificate. Most students that end up finishing college, end up going in debt. Depending on the college that some students want to go to and how long they want to go for, even if they are paying for about a third of their college tuition, that probably won’t pay for all the years that they want to go to college. The only problem with that is there are some parents out there who expect their kids to pay for college themselves. According to “When should you start saving for college? - NerdWallet”. 09 Sekar (2014.) Students should have their parents saving money for college before they are even born. From 2009-2010, the average tuition at a public four-year university was $15,000, and at a private school it was $35,000. College has doubled in price in the past decade, than what it was back

According to the National Center for Education Statistics, around 20 million people enroll in college each year. More than 90 percent of these people wouldn’t be able to afford this journey if it weren’t for financial aid received. While it is true that some financial aid comes from scholarships based on merit, according to the National Center for Education Statistics, most government aid is based on financial need. The number of people enrolling in college is so high that those that have worked hard to get to college, but are above a certain income, don’t get a dime. Meanwhile those who skated through high school by the skin of their teeth, and happen to fall under the predetermined income levels, are able to reap the benefits of an unbalanced financial aid system.