Sandy Baum
Sandy Baum
aid budgets component financial
Financial aid is the fastest-growing component of institutional budgets.
aid award component decided dollars full grant meet merit needs schools students whom
Most schools don't have enough grant dollars to meet the full needs of their students, so they have to decided whom to give it to. There is merit component to need-based aid. There also are schools that award merit-based aid but only to students with need.
covers grant maximum portion remains smaller therefore total tuition
The maximum contribution remains at $4,000. Therefore the Pell Grant covers a smaller and smaller portion of students' total tuition costs.
affluent almost average borrow children debt families increasing levels likely
Where the average debt levels are really increasing are for children of more-affluent families. Children of affluent families are now almost as likely to borrow as children of less-affluent families.