Financial Aid Increases Providing More Opportunities for Those Who Want To Pursue A Higher Education
Over the recent years, we have been forced to deal with an increased cost of living, not to mention the increases that college tuition has seen recently as well. This really puts a lot of pressure on anyone wanting to go to college, but it doesn’t mean that it’s the end of the road.
This year, the government has put a lot of effort into making sure that funding for college scholarships and college grants was enough to adequately provide students with enough money to pay for their college education WITHOUT having to take out loans which really commits a student even after they finish college.
The first increase from the government was the Pell Grants program
For the life of this specific college grant, it HAS NOT been increased with the cost of living. The cost of living would go up, but the payout on Pell Grants would continue to be the same, making it difficult on college students who depended on financial aid to provide them with what they needed to get through the school year.
The government finally got some heart on the issue this year and increased the payout for Pell Grants to $5,500, making it the first time in history for the payout on Pell Grants to rise as the cost of living continues to rise. This is an excellent sign that the government is trying to do more for the people who try to do something for themselves.
The second increase of funding was a result of the Federal Stimulus
Part of this historical financial package was $100 billion which would be used to fund programs for higher education. This ended up leading to new scholarships being offered as well as new grants crawling out of the wood work thanks to this increase in federal funding for higher education.
This makes it a great time to get a college degree
While the current state of the economy can be depressing, it does provide the opportunity to get a college education paid for by the government that may not have been possible before. I guess this is when you realize for every bad thing, there turns out to be a good thing for those who are patient and willing to continue no matter how hard the road ahead of them may seem.
For college students out there, be sure to fill out the FAFSA to be considered for federal grants.
For more information about these particular financial aid increases, please visit Christian Science Monitor.
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