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For unmarried students under 24, Congress mandates that parental income and assets be included. The resulting figure is the student's "need". Colleges attempt to provide students with enough financial aid to meet all student need, but in most cases are unable to do so completely. The result is "unmet need".
There is a misconception that there was no similar increase in financial aid to help cover the costs of tuition. This is incorrect. In 1965, $558 million was available for financial aid. In 2005 more than $129 billion was available. As college costs have risen, so has the amount of money available to finance a college education.
Fewer low-income students applied for college financial aid for the current school year after the rollout of an updated version of the Free Application for Federal Student Aid, known as the FAFSA ...
This finding prompted postsecondary institutional leaders to reassess student needs [22] and to a review of policies related to financial aid. [23] A 2011 follow-up study using 2007-2008 NPSAS data found a similar percentage of nontraditional learners (70%) and identified several key segments of college students that overlapped with this group. [7]
There’s one form prospective and current college students must submit in order to receive federal financial aid, and it looks a lot different than in prior years. The new FAFSA: What you need to ...
The already stressful college admissions process was thrown into chaos this year by a botched bureaucratic upgrade. Hiccups and delays in the federal financial aid process have kept some high ...
Federal Student Aid provides financial assistance to students enrolled in eligible programs at participating postsecondary schools (accredited four-year or two-year public or private educational institutions, career schools or trade schools) to cover the cost of education expenses, including tuition and fees, room and board, books and supplies ...
Low-income students often prefer grants and scholarships over loans because of their difficulty repaying them. In 2004, 88.5% of Pell Grant recipients who had bachelor's degrees graduated with student loan debt. After college, students struggle to break into a higher income bracket because of the loans they owe.