I would like to acknowledge an issue numerous of students experience with financial aid. There have been countless issues involving lack of financial aid for college students. Even though many schools do provide financial aid to students at their institute, not all of them qualify. “Over the past decade, the price index for college tuition grew by nearly 80%, a rate nearly twice as fast as the overall consumer price index during the same period” (Godek et al 255). Colleges and Universities should offer their students with multiple forms of financial aid. There should be alternatives available for students who do not qualify.
An article written by James Day recognizes some of the struggles that colleges are facing with financial aid. Day provides four in depth strategies that suggest how schools should spend their funds to help their institute. This information can allow the readers to understand that there has been thoughts put into wanting success for both the schools and students. James Day is suggesting to keep using their method of leveraging, but to take advantage of it by providing aid for students so that the institute will benefit from it as well (Day). It’s basically a win-win situation that would be going on here. The students will benefit from this type of strategy because they will be receiving financial aid, as well as helping the school with student enrollment on their campus.
The information in an article “Playing the Numbers HARD CHOICES” is set from 2003 to 2008, reviewing students’ tuition based on their income and how much financial aid they receive. It shows that higher level of education that students pursue, the less quantity of money will be provided to pay for their tuition and fees. The author discusses the amount of financial aid students receive based on the type of school those students are attending and the types of degrees they choose (Doyle 51). Also, William Doyle mentions that the students who attend four year institutes receive a smaller coverage amount from financial aid than the two year institutes. There are chart shown to allow the readers to see that the cost for schools rise as their education level does (Doyle 53). This given information is perfect to support the students’ point of view when they apply for financial aid. It can also bring up opposing view like on how schools need to carefully choose what necessary requirements are needed for students to be eligible for financial aid.
As a student who could not receive any form of aid when I first applied to a two year college, the article by Timothy Hulsey helped me understand some of the reasons why I may have not been able to get any assistance. In his article, Hulsey goes over some of the complications that public institutes in the United States are experiencing from 2000 to 2010. Some of the issues are because of the decreasing tax revenues which force institutes to reduce their spending on higher education (Hulsey). The only source they have left that is reliable for funding their school is by increasing the tuition, leading to more issues on student loans.
Mullin’s article covers information about eligibility for financial aid and how changes have been made. Also providing a chart to have a better understanding about all tuitions and fees involved and how much is covered from aid programs (Mullin 119). There is a figure provided in Mullin’s article showing how tuitions, fees, books, and supplies relative to the maximum grant amount in 2011 to 2012. The chart demonstrates comparisons from public institutes, private institutes, and profit schools. Most of the schools do not cover all of the tuitions except for public two year colleges, but that is if they to receive the maximum amount of financial aid. This chart gives a great visual on how much aid programs will actually cover for school expenses. This is one of the reasons why there should be more alternatives for financial aid for college students. Some students may not be able to afford their education independently and might not get to pursue a higher education.
To sum up, colleges should keep in
mind that if students are not eligible for financial aid it can potentially
decrease their student enrollment. If students stop enrolling it can affect
their school or campus. College tuition increases frequently and based on
students income their financial aid may not even cover half of their fees. It
should be mad aware that student financial aid is a problem that is still
occurring today and that schools should acknowledge these issues to find an
alternative way to help their students pursue their higher education.
Day, James. “The Future of Financial Aid Leveraging.” New Directions for Student Services, vol. 2007, no. 118, Summer 2007, pp. 31–38. EBSCOhost, doi:10.1002/ss.238.
Doyle, WilliamR. “Playing the Numbers HARD CHOICES.” Change, vol. 41, no. 6, Nov. 2009, pp. 50–54. EBSCOhost, doi:10.1080/00091380903316954.
Godek, John, et al. “The Effect of Tuition Increases on Business Student Decisions.” Journal of Education for Business, vol. 90, no. 5, July 2015, pp. 255–259. EBSCOhost, doi:10.1080/08832323.2015.1034066.
Hulsey, Timothy L. “The Cost of, and to, Public Higher Education.” Phi Kappa Phi Forum, vol. 90, no. 1, spring 2010, p. 24. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=a9h&AN=48736481&site=ehost-live.
Mullin, Christopher M. “Evolving Practices and Emerging Innovations in Community College Finance.” New Directions for Community Colleges, vol. 2014, no. 168, Winter 2014, pp. 115–125. EBSCOhost, doi:10.1002/cc.20125.