Paying For A Higher Education

871 Words Aug 30th, 2015 4 Pages
Paying For a Higher Education There are over two hundred and fifty five worldwide childbirths per minute, and almost fifty seven percent of those who are born will not be able to use their own money to pay for college (Central Intelligence Agency 2). College is a very important aspect of life today. Each year things change in this world. Post-Secondary education is becoming a major requirement with most jobs today. Whereas in the past, post-secondary education was not as prevalent. Many students are going to college; not necessarily to please their parents, but because they are aware that going to college is an important aspect towards their future.
Unfortunately, loan aid is awarded more than grant aid. This puts college students at a higher risk to have an extreme amount of debt in their adult life. The cost that a majority of students are required to pay back on a loan, raises the possibility of bad credit and a lifetime of paying student debt. Studies suggest that those with the greatest loan burden are mostly undergraduates with a middle class income. Many financial programs such as, FAFSA do not provide a reasonable amount of money towards tuition for students who do not meet the eligibility for grant aid (King 9-10).
A majority of aid goes towards families that have a lower income; rather than those with a classified reasonable income. Through the years as income increased the amount of expenses paid by families largely increased. Although college is expensive,…
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