Where to find money for low income future students?

where to find money for college


by Alex

2 August 2017

College Access for Low-Income Students

In recent years, college access for low-income students has become one of the burning issues, which is in need of immediate resolution. So far, the income gap in the society, which continues to grow, has lead to the inability for school graduates to get the qualification at high education establishments, hence, obtain high-paying jobs in the future.
According to the 2016-2017 reports of the College Board, the price of the academic year at public college is about $24,610, while at private colleges it is averaged $49,320. Though this price includes tuition, fees, housing and meals, books and school supplies as well as personal and transportation expenses, it is still too expensive. Moreover, the overwhelming cost of attending college increases, causing a limited access for low-income students to the college education.
To improve the situation with college expenses and provide students with equal opportunities to prepare for college, to attend it and succeed in graduating from a high education establishment, it is necessary to develop and implement new solutions into the US system of education. One of the ways to make the dream of most American students, which is to enter a college, come true is to increase Federal Funding Programs, such as Federal PEL Grant, America’s Promise Grants, Federal Supplemental Educational Opportunity Grants (SEOG), Federal Direct Parent Loan for Undergraduate Students (PLUS), etc. It is also important to encourage policymakers along with educators to support the idea of Federal Funding Programs at education establishments and reduce college expenses through thorough revaluation and decrease of the annual budget.

How Do Federal Funding Programs Work?

Federal PEL Grant is one of the most popular financial aids for low-income students, which is usually rewarded to undergraduates, who are willing to obtain a bachelor’s or another professional degree. The amount of financial support, which a student can receive, depends on one’s financial need, the cost of college attendance, and plans to attend a full academic year, be a full-time or a part-time student.
Federal Direct Parent Loan for Undergraduate Students (PLUS) was created to provide parents with the help to pay for the cost of college, to which their children would like to enroll. This kind of financial loan, though, should be repaid.
Federal Supplemental Educational Opportunity Grants (SEOG) is available only for schools, which offer the FSEOG. This grant awards with financial aid those students, who have the biggest financial need.
Unlike students’ loans, most of such Federal Grants don’t have to be repaid (except under certain circumstances), which gives students opportunities to move further with less financial issues in the future. Another important step, which one should take into consideration in order to become a participant of Funding Programs, is to fill out the FAFSA application form (Free Application for Federal Student Aid). Completing FAFSA form, you have higher chances to get help paying for college.
The country is in need of qualified professionals. Let’s build up an intelligent society without depriving low-income students of the right to obtain quality education!