The rising cost of college tuition coupled with a lack of need-based financial assistance throughout the country is a threat to low-income students preparing for college, a congressional committee found recently.
The Advisory Committee on Student Financial Assistance released a report addressing an increasing gap in college admissions between high-income and low-income students.
According to the “Access Denied” report, student loans and grants are falling short for low-income students because the current aid system has shifted its focus to merit-based awards and middle class students in recent years.
“This gap is certainly hurting college participation rates in low-income students that are academically prepared to enter college,” said Charles Terrell, associate dean of student affairs at Boston University and vice chair of the Committee. “There is an average of $3,800 of unmet need for low-income students at four-year institutions.”
Terrell is one of 11 members of the Committee, which assists Congress by advising it on college aid issues. According to Terrell, federal Pell Grants have not kept up with the pace of the rising costs and cover only 39 percent of tuition costs.
“We are calling attention to the problem so that institutions will come together and focus on putting need first,” Terrell said.
According to BU spokesman Colin Riley, Boston University is doing a very good job of providing students with aid. About two-thirds of students receive aid, he said, and the University is frequently monitoring costs and increases.
“The average graduate last year left school with a student debt that was less than one year’s tuition,” said Riley, noting that of those who receive aid, the average total debt is about $18,000.
While BU is generous in awarding financial aid, it realizes financial assistance cannot be awarded in all circumstances and there are limitations. Riley said the University recognizes the effort students put forth toward higher education and, therefore, supports congressional efforts to eliminate the gap in financial assistance.
Over the next 15 years, an increase is expected in college-bound students by 1.6 million nationally. Many of these students will be low-income students requiring financial aid in order to attend college, the report said.
Terrell said “a host of scholars” would review and discuss issues concerning the condition of the “Access Denied” report on Friday, and suggested another “major document” will also be released. The seminar will take place at 1:30 p.m. at the Harvard School of Education.
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