College Funding: The Battle On The Home Front

By Aislinn McLaughlin
The Blue Print
on Appropriations:

For most high school seniors, April brings more than showers as the steady flow of college decision letters invade innumerable mailboxes; however, regardless of whether the college process presents you with prospects or complications, the one indisputable piece of baggage it infallibly delivers is financial pressure. With college tuition rates rising three times as fast as the average family income, loans and financial aid have almost become a necessity for many families who otherwise couldn’t afford to send their children to college.

As of now, prospective and students and their families can obtain financial aid through a variety of programs such as the College Scholarship Service (CSS) and the Federal Pell Grant Program, or they can turn to the colleges themselves for need or merit-based aid. Nevertheless, in spite of the range of methods available to families, finances remain a pressing issue due to cumbersome application processes and constricting deadlines for families looking to repay the loans plus interest.

While some might place the blame for fiscal troubles on the institutions, the government cannot help but get involved in a problem that affects a majority of the country’s population. Congress’ most recent attempt at a solution has been to pass the Student Aid and Fiscal Responsibility Act of 2009 by a large majority. This bill is designed to alleviate pressure by making most families eligible for financial aid while reducing the cost to the government by eliminating private subsidizers.

Although this proposed piece of legislation implies that Congress in general supports the reform of federal college funding, it remains to be seen whether or not President Obama will sign the bill into law, and if so, whether or not the law will be effective.