The annual report from the National Center for Public Policy and Higher Education is now out, and the New York Times has an article today highlighting its findings. Forget all the numbers, the picture tells the story:
Here are some interesting facts that stand out:
- Student borrowing has more than doubled in the last decade, and
- Students from lower-income families, on average, get smaller grants from the colleges they attend than students from more affluent families.
This last fact is lost on so many families. The largest amounts of financial aid dies not go to those in greatest need, but rather to the families that the schools want.
Many of the families with whom I work are feeling the pinch described in this study in a big way this year. But there ARE ways to ease the burden by knowing how the game is played and what financial techniques will reduce costs.
Here's the New York Times article: College May Become Unaffordable for Most in U.S.