New Jersey Students See Lower Financial Aid Payouts

Published on Monday, August 30th, 2010 by James Category: College News

photo: njcu.edu

The economy has taken a turn for the worst and when this happens, it causes people to go back to school to better their job skills or earn a college degree. With more and more people finding themselves out of work, there seems to be an understanding that in order to distinguish themselves in the job market while bettering their lives, it’s best to take advantage of the many opportunities that await them for college. Going to college is one thing, but how do they pay for college is another.

In New Jersey, many students rely on the Tuition Aid Grant.

However, with a sharp increase in enrollment, there’s a lot more people that are qualifying for this state grant than there has been before. While this grant program did receive a lot more funding this year, it doesn’t come close to meeting what the demand is for it today.

The only solution that they could come up with is decrease the amount of funding that students will receive from the Tuition Aid Grant. The amount of money that’s being taken from the checks is as little as $182 and as high as $872. This reminds me of a news story I covered just last month here at College To Careers.

In that story, I explained how the government decided that the Pell Grant program should increase their payout since the cost of living has increased recently. It seems that New Jersey has yet to grasp the concept of increasing their funding for college programs without taking away from students. Every penny counts in this day and age!

What do financial aid specialists say?

It seems the popular solution to this is to find other government programs and financial sources that would help students cover the cost of pursuing their college education. One of the many mistakes of students happens to be relying on a single source of college funding and not having a backup funding source in place.

It seems that the moral of this story is to always be prepared, financial aid from the federal government may increase, but sometimes what happens at a state level will be the complete opposite. For more information on this financial aid decrease, visit New Jersey Financial Aid.

For a wide range of scholarships, visit our College Scholarships page.

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