Financial Aid Fairness

austinmshauri
Thu, 19 Mar 2015 13:31:17 +0000

While we’re waiting for all the acceptances to roll in, it’s probably a good idea to point out that those students whose family income is low enough to qualify for federal aid only get a maximum of ~$5k/year federal grant. Even with the $5500 guaranteed federal student loan, it’s not enough to pay for most 4-year schools. Please try not to resent the families who are qualifying for Pell, esp. if your family makes $100k+/year. You’d have to give up half your income to qualify for that $5k grant. The higher your family income, the more you’d have to give up to qualify. It’s difficult to be in the middle where we make too much to get aid but not enough to be full pay, but we could do worse.