Guide to Education Grants

Many college students and those who are college-bound have
raised concerns regarding the soaring costs of school. This is particularly true
with lower income families who typically do not obtain loans since they do not
want to incur further debt. Congress has received a lot of pressure to cut
federal student loan rates as well as raise average awards of federally
disbursed funds. In the last few years, several private universities and a few
public institutions have stepped forward, pledging to cover tuition costs for
“needy” students.

What is new and exciting is that the University of Texas
System has created “covered tuition” programs at seven of their nine state-run
colleges, according to the Dec. 22, 2006 article by Elizabeth Redden titled “Beyond
the Flagships” that appeared in Inside
Higher Ed. Redden reports that this initiative, one that serves low-income
families, will likely be comprehensive and consistently applied across the UT system.

 

Perhaps the University
of Texas System will set
the standard for other institutions to follow in the future. While many high
profile schools have gone on record as committing to such programs, Redden
notes that they generally fall far short. Very little of the earmarked funds
are disbursed to “needy” families because high profile schools usually “have
high admission standards and limited low-income enrollment.”

Low-Income Students
Can Now Afford College

It appears that this critical student population is now
being targeted and will soon be reached on University of Texas
campuses. The article reports that several UT institutions have announced plans
to “pledge free tuition and fees for Texas
residents from families with an income level of $25,000 or below.” Most of the
new programs will begin in fall 2007 and vary from school to school, but will have
common denominators. Eligible students must be full-time students who complete
30 credit hours annually while earning at least a 2.0 grade point average.

The director of financial aid at UT’s Pan American campus
who recently announced a tuition initiative “estimated that 50 percent of
students come from families with incomes of $25,000 or less, the cutoff point
for the new programs,” the article reports. Geri H. Malandra, the UT system’s
interim executive vice chancellor for academic affairs anticipates many
students becoming involved, according to Redden. “Over and over again, we’re
learning that the biggest barrier is that students are saying they can’t go to
college because they can’t afford it,” the article quotes Malandra as saying.  “It’s hard to get the message across that
they can. We hope that hundreds and ultimately thousands of students will get
this message…” she finishes.

 Other Colleges
Looking to Follow Trend

 The article mentions Shirley Ort, University of North
Carolina at Chapel Hill’s associate provost and director of scholarships and
student aid as commending the UT system and saying, “The first thing that’s
really powerful is that there are several institutions within the Texas system
that are sending the same message,” she says. Currently, only three schools in
the North Carolina system extend comparable initiatives, including the new
privately funded program at Appalachian State University which covers “tuition,
fees, room, board and books, plus a $1,000 stipend for students at up to 100
percent of the poverty level,” the article reports.

 Hopefully, in the near future, colleges such as University of North Carolina
at Chapel Hill and others will follow UT’s
example in meeting the needs of low-income students through such programs.

 Tom Mortenson, editor and publisher of Postsecondary Education Opportunity and senior scholar for The Pell
Institute for the Study of Opportunity in Higher Education, sees such progress
as exemplified by the UT system as a positive step. The article quotes
Mortenson as saying, “The institutions that are on the front line and see these
problems are trying to do something about it.” “These schools ought to be
applauded but it’s a drop in the bucket if just a few institutions do it,” he says.

The student loan advisors at NextStudent are helpful and
knowledgeable about student loans. They are a trusted source in getting you the
appropriate information about your student loan consolidation, student loan
options and helping students get the college financing they need. Go to www.nextstudent.com for more information.

Be sure to tune in next Thursday for my next blog on student
loan advice.

Student Loan GirlTechnorati Tags: NextStudent, College Funding, Student Loans, Financial Aid, Consolidation, Student Loan Consolidation, Next Student, Covered Tuition Programs, Tuition Initiative

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