Financial Aid in Education Essay - 1301 Words

Financial Aid in Education A guy in $50,000 of debt has got to be irresponsible with his money right? Actually, it is more likely that he is a college student. Hundreds of thousands of college students around the country are in a financial predicament because of the government?s impersonal financial aid policies. The federal government?s current system has too many quirks which end up hurting the people that financial aid is supposed to help. The federal government should change its financial aid policies to take several more factors, such as the percentage of educational expenses paid by the student, into account. Under the present system, all students applying for federal aid file a form called the Free Application for Federal†¦show more content†¦The federal government does not use this application for aid. The CSS Profile is a service provided by The College Board. It includes many more factors such as the age of the parents, house payments, and car payments. Mostly expensive private universities use the CSS Profile because their students have much more financial need. The current system does a fairly decent job of predicting the amount of aid needed assuming both the parents and the student are paying for the student?s education. The big problem with the system is that not all parents help pay for their child?s education. According to the current system, the student would have to cover the expected contribution from their parents as well as their own expected contribution should their parents decide not to help foot the bill. For example, if a student from a middle class family which is earning $70,000 a year. Assuming the student was earning $3,000, and that student wanted to attend Duke University, approximately $33,000 a year, the family would be expected to pay $13,641 of the bill for each year2. If the parents choose not to help the student pay, then it would be the student?s responsibility to pay every bit of the $13,641. How many students graduating high school can afford that? I think that this factor could quite possibly be the biggest re ason that students think they cannot afford college. Another problem is that the current system actually punishes students for saving theirShow MoreRelatedRole Of Financial Aid In Education965 Words   |  4 PagesDoes Financial Aid Work? Financial aid is a sensational implement for students all around the world. It is done in several different ways and benefits the lives of an abundance of people. Different levels of government work together to fund students by providing programs like FAFSA, for example. The federal government ensures the cooperation of state and local governments by providing funds to help them implement important programs. FAFSA stands for Free Application for Federal Student Aid. ItRead MoreFinancial Aid In Higher Education Aims To Make Tuition1616 Words   |  7 PagesFinancial aid in higher education aims to make tuition fees affordable. According to Ehrenberg (2002) pointed out that financial aid has three main objectives: to increase access and persistence (enroll more students), to increase affordability (make higher education cheaper for students and their families), and to promote equality of opportunity (make sure disadvantaged students can go to University). The student’s aid programs are also differentiated on the basis of types which are loans, GrantsRead MoreEssay on Higher Education and Financial Aid from the Government1667 Words   |  7 Pagesgovernment aid, more and more students are forced to take out loans in order to pay for continuing education. These loans later become a huge financial burden, some totaling near $30,000. If the dream of a college education is dependent upon access and affordability, how are young people supposed to continue their education and plan a future, when the cost of tuition is through the roof? 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Since students can be regarded as the output of the education, student financial aid also contributes to the social mobility and the improvement of economics. Federal government, state governments and institutions jointly provide the funding to certain groups of students. Among all types of financial aid, need-based aid and merit-based aid are most importantRead MoreUndocumented Immigrants Should Be Legal Essay1321 Words   |  6 Pagesbecame â€Å"undocumented immigrants.† Being an undocumented highly affects them financially especially in higher education. For them to pursue a college education they have to deal with a lot of problems such as lower college acceptance rates, and lack of work opportunities and for that, it’s difficult for them to pay for college. Undocumented immigrants should be able to receive financial aid, even though some people do not support them. 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