Rush for student aid

The federal government is bracing for a record number of financial aid applicants next year as the national economic crisis hits parents’ paychecks, making tuition unaffordable for some.
U.S. Department of Education data predict 1.2 million more students to apply for aid for the 2009-2010 academic year, the largest one-year increase since the 2002-2003 school year.
The problem is that officials estimate the department will need about $3.2 billion more than it asked for in its 2009 budget request, which could lead to a massive shortfall in funding.
More students will be eligible for Pell Grants and qualify for need-based aid because of ‘economic factors,’ according to a department report. Maximum grant allowances will only increase by $69, from $4,241 to $4,310.
BU spokesman Colin Riley said the university is taking measures to ensure students are minimally affected by the shortage.
‘We want students to be able to continue their education here,’ he said. ‘This is why President Brown took the precautionary step to put on a hiring freeze, to see specifically what the ripple effects will be from this economic crisis.’
BU students said they are already getting nervous about the situation. College of Arts and Sciences freshman Tina Fresta said even though she received financial aid last academic year, she will likely require even more this year after the retail outlets her father owns saw a drop in business.
‘It worries me,’ she said. ‘Because business is going down, the [family] income is going down, and I will have difficulty finding a way to pay for my education, this will especially worsen if my financial aid is decreased due to an increase in FAFSA applications.’
CAS freshman Chris Hamilton said he may need to rethink how he is going to pay for his education.
‘I definitely hope that there will not be an increase in FAFSA applications at BU,’ he said. ‘If there is, I hope it will not affect how much financial aid I receive.’