
The Free Application for Federal Student Aid (FAFSA) is being attacked for its complicated process. Amen to that!
According to the draft - too little money is reaching low-income students.
The number of families with income below $34K who did not get the financial aid they need has grown 80% from 1990-2004.
Meanwhile, families in the top 25% by income saw financial aid packages triple!
Wait, the people who need the money aren't getting it, while the people who still need it, but not as desperately are getting three times as much as they used to.
Something is wrong with this picture and it is NOt just the complicated nature of the FAFSA.
What do you think?
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I would certainly have to agree there needs to be a change. Last year, I was a dependent student living in the dorms. My mom made $20K to $25K, at the peak there was 3 kids being supported (but we all worked and chipped in), but there at the end it was just me and her. I made just shy of $12K last year, but am now considered independent due to my age. My Pell grant has dropped from full amount to around $900 a semester. My EFC jumped from $0 to $2000. Ironically, I don't make enough currently to live on my own, I have to live in the dorms and at home. So yeah, I can certainly see where something would need to change, especially since scholarships are getting harder and harder to nab due to increased competition.
I also think that there needs to be more flexibility in the independent / dependent question. For example, my fiancee is struggling to gain independent status -- she's under 24, but she's supported herself since she was 17 -- two years later, she's fighting the school to switch her status. Her parents don't support her, yet the school uses her parents middle-class income to calculate her contribution. The school wants her to actually prove that the support isn't there, and when she does, they're continously looking for loopholes.
So many scholarships look to the FAFSA as well, so it's become even more important to get an accurate picture of a student's financial situation.
I have a strong feeling the FAFSA's going to have to change -- it's a bit outdated.
Posted by: Lee Lowder | July 30, 2006 7:48 AM | Permalink to Comment