Studies: College Students Relying On Grants, Loans
"Based on two studies, one that focuses on federal grant and loan programs and another that looks at all sources of college funding, the trend is clear: Students are relying more on grants and loans, in part because other financial resources have been tapped out," Monroe News reports. "The National Association of Student Financial Aid Administrators recently issued its National Profile of Federal Student Aid Programs. This report, which came out in June, focuses on data from the 2010-11 and 2011-12 academic years and includes some comparisons to 2007-08, which was just before the recession. Sallie Mae’s report, “How America Pays for College,” has been issued every year since 2008. While the 2013 edition has not yet been issued, the 2012 report points out trends in how students and parents are dealing with the cost of college that correlate very well with the NASFAA study. #According to the NASFAA report, the U.S. Department of Education data indicates the number of students who applied for federal financial assistance ballooned from about 19.4 million during the 2007-08 school year to about 31.4 million during the 2011-12 school year. #While contributing factors could include the numbers of young adults in the population, and the numbers of people attending college rather than entering the workforce during those years, NASFAA is specifically citing the recession and the increasing cost of college in its report as causes."
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.