Financial Aid Need or Merit - 890 Words

It is a universal fact that college is not a cheap investment, and acquiring aid to help with the cost can be hard to come by. Due to the recent drop in the economy, it is almost necessary to have a college degree to get a job. The rising cost and necessity of a college education has raised a debate on the eligibility of financial aid and who exactly should obtain the aid. The main focus in the financial aid debate is whether or not aid should be based on merit or need. A simple way to put this is should the student from lower income families receive aid because money is tight, or should students with the best grades get money for working hard and gaining high grade point averages? When both sides are examined,†¦show more content†¦It is easy to expect the government to hand you something but not have to work for it (â€Å"Government Run Financial† 1). In the past few years, need-based aid has become a more popular option explored by colleges due to the recent fall in the economy. Current research shows that the majority of financial aid has begun leaning towards merit-based aid; this has begun to take some money away from those students who financially need it. Also, merit-aid is commonly offered to student with higher family incomes because of their grade point averages and extracurricular records throughout high school (Marcus 1). Without a large sum of money set aside for need-based aid, many students may not be able to attend college. Mark Kantrowitz, the publisher of Fastweb.com and Finaid.com, says â€Å"The most effective use of college grant money is need-based aid. It helps those with the most to gain, and it makes our society stronger in the process.† College may be a difficult goal to accomplish for small income families, but if the students are willing to work hard before college this should not be hard (Should More College 1). It has been proven that low income students are less likely to even apply or attend a four year col lege. In a recent study around 54% of lower income students attended a four year college, while 84% of upper and middle class students were enrolled (â€Å"Should More College† 1). Not only did the lower class student not have the funds to attend college, but their grades wereShow MoreRelatedStudent Financial Aid For Students950 Words   |  4 Pages1940s, Student financial aid began to play a significant role in prompting student access, persistence and completion rate of American Higher Education. Since students can be regarded as the output of the education, student financial aid also contributes to the social mobility and the improvement of economics. Federal government, state governments and institutions jointly provide the funding to certain groups of students. Among all types of financial aid, need-based aid and merit-based aid are most importantRead MoreEssay on Financial Aid: The Problem with Merit-Aid1393 Words   |  6 Pagesto preferred means of financial aid su ch as grants and scholarships. The funds for merit based financial aid are growing rapidly, while the funds for need based aid is staggering along. The resulting circumstance is less financial support for low-income students. The newly found emphasis on merit-based financial aid over need-based aid serves as a disadvantage to students of lower incomes and should be disputed. What is so wrong with merit based aid? Merit based financial aid is great for many familiesRead MoreGovernment Financial Aid For Students Should Not Be Based Solely on Merit1589 Words   |  7 Pages Scholarship money is a type of financial aid, awarded to students for their academic merit based on a mix of GPA, SAT scores, and class rank (How to get a scholarship 2011). 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