Essay about Aid Money Should Not Be Paid

Essay about Aid Money Should Not Be Paid

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Choosing to attend college, some of us find ourselves unable to pay for tuition in full and in result, we turn to financial aid. Financial aid is based on, “your Expected Family Contribution, your year in school, your enrollment status, and the cost of attendance at the school you will be attending” (Loans). This system is flawed and should be changed due to financial aid money being used irresponsibly. Aid money should be rewarded based on the student’s income alone, rather than the entire household income. Remaining financial aid money should not be given back to the student via check or online banking, but should be given back to the lender to prevent irresponsible spending. Lastly, aid money should be rewarded to those who had shown potential in school, and will show potential in the program chosen.
“The methodologies used to calculate how much help families require for college are flawed in a variety of ways. But what is a much more disturbing problem being that despite what financial aid formulas say a family can afford, the vast majority of schools expect them to pay much more” (O 'Shaughnessy). Financial aid should be based on the student’s income alone if they are employed, and not on the entire household income. “The formulas for financial aid measure ability to pay by assessing a portion of the family’s discretionary income and assets. Discretionary income is the amount of taxable and untaxable income that remains after subtracting mandatory expenses like basic living costs” (Kantrowitz). Perpetually as we file for financial aid, we are required to insert one or both parent’s incomes throughout the year. This is required for those under the age of 25. In doing so, our chances of getting more financial aid money...


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...be entirely based on their special talents or rewards, but for the potential that was given in school, and the potential that will be shown while in college.
Although financial aid gives us the ability to pay for college when we cannot pay for tuition and fees out of pocket, it also gives us the ability to take advantage of remaining aid money that we receive back. In doing so, this allows us to spend financial aid money irresponsibly, rather than paying back our lenders immediately. The financial aid system is flawed and should be changed. Aid money should be based on the student’s income alone, rather than the entire household income. Rather than aid money being rewarded back to the student, it should be given back to the lender to prevent irresponsible spending. Lastly, aid money should be given to the students who have shown and will show potential in school

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