Reimagining Financial Aid
"The first results of the Bill & Melinda Gates Foundation’s effort to redesign the federal financial aid system are in: 15 white papers totaling 587 pages, nearly all calling for an overhaul of at least part of the nation’s system for helping students pay for college in order to improve graduation rates," Inside Higher Ed reports. "Taken together, the 15 papers represent a $3.3 million effort to influence the conversation about federal financial aid as Congress begins preparing to renew the Higher Education Act. (Two more organizations, which received their grants late, are expected to release their reports this spring.) The reports share a focus on using financial aid to increase the number of college graduates in the U.S. -- the Gates Foundation's holy grail. But the recommendations conflict and contradict each other more often than they reach any consensus on what an ideal financial aid system would look like. … Many papers (a full list with links is here, and the National Association of Student Financial Aid Administrators has created a chart comparing recommendations) call for a radical overhaul of financial aid. … [NASFAA] would keep the 12-credit hour definition of full-time, but rewarding students who pursue at least 15 hours with a “super Pell” grant."
NASFAA's "Financial Aid in the News" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.