Cost Goes Up, Help Goes Down

Jamie Signorile

It is evident to most researchers and the general public that the cost of college is increasing rapidly. However, many people have over-looked the sudden decrease in financial aid. Banks are loaning less money at a time when students need it the most.

According to the Collegeboard, there has been increases in both in-state and out of state tuition fees. From last year they are both up around 6 percent. This is an obvious signal that students have to pay more for college. With this increase, students turn towards financial aid. Ironically, banks are not loaning out vital money that students need. According to The Chronicle for Higher Education, there has been a decrease in the amount of private loans. This, like many things, is due to our economy. The credit markets are dysfunctional and private loans cannot be met. How can our economy get better if our future work force cannot make it through college? This has a large amount of money being left behind. About 11.9 billion dollars could have been supplied to students, according to two distinct college board studies.

There are some resources out there that students can utilize. The money that can be given to students is vital for their success. In these turbulent economic times, students need as much help as they can get. Education is noted as one of the most vital contributions to success in society today. Achieving this goal requires aid that, in this case, is being severely ignored. Mark Kantrowitz understands this problem and on his site, www.finaid.org he provides many resources to help students and family get the help they need. His organization provides great help that offers students options and alternatives, especially when college costs goes way up.