While many colleges offer a great education, there are definitely some that are more accessible to low-income students than others.
For low-income students concerned about the cost of college, it’s important to know which colleges offer generous financial aid and programs that will help them succeed and graduate without taking on enormous student debt.
Need-based financial aid, particularly in the form of Pell grants, is designed to make college more affordable for low-income students who may not otherwise be able to attend college. But a new study, as reported by the Washington Post, finds that the students who need financial aid the most are the ones who end up with the most […]
While college is extremely expensive, there’s a lot of free money out there going unclaimed.
In fact, according to a new analysis by NerdScholar, U.S. high school graduates left over $2.9 billion in free federal grant money on the table last academic year.
How’d they miss out on the free money?
They didn’t fill out the Free Application for Federal Student Aid (FAFSA).
While the government claims to be working to make college more affordable for students, actions speak louder than words.
The House of Representatives voted last week to cut $303 million from the federal Pell Grant program–a program that provides low-income students with grants for college.
The Federal Pell Grant program was established to help make it possible for low-income students who may have not otherwise been able to afford a college education to do so. Unlike loans, the grant does not have to be repaid, which helps reduce the burden for students who receive the grant.
As college costs have risen, the maximum federal Pell Grant has risen as well–but not nearly enough to cover the huge increase, Inside Higher Education reports.
According to a new report from the Education Trust, New America Foundation, and Young Invincibles, the Pell Grant program is failing to keep up in providing low-income students with access to a college education.
Even as college costs rise, millions of students are missing out on the opportunity to get free money for college.
According to an analysis of federal data by Mark Kantrowitz, senior vice president at Edvisors Network, about 2 million students could have qualified for the need-based Federal Pell Grant during the 2011-12 academic year.
Of that group, 1.3 million would have qualified for a full Pell Grant of $5,645 for the 2013-14 academic year. That’s a free $22,580 over 4 years. If these students had instead borrowed loans to cover that amount, they’d have to pay it all back, plus interest.
So why didn’t these student receive this free money for college?
They didn’t file the Free Application for Federal Student Aid (FAFSA).