Chapter Summary - Student Aid Essay Example | Topics and Well Written Essays - 750 words

Chapter Summary - Student Aid - Essay ExampleThe cost of college has nearly doubled over the gone 20 years, in inflation-adjusted dollars, and college tuition and fees have risen faster than inflation, personal income, consumer prices or even the cost of prescription drugs and health insurance. (2010 2)The author, based on her in-depth research, as well as submits to state that the students belonging to lower stratum of society of the USA have far higher percentage of completing their graduation in comparison with those of the mettle and higher strata. But the governmental funds and scholarships, once granted to the students on the basis of financial position, have been attached with the grades and scores students get in studies. Hence, the scholarships ar divided among the students of all classes, which have accelerated the financial miseries of the students belonging to the lower classes. Though granting of scholarships on the basis of performance in studies is a very effectua l trend, but it deprives the financially poor students of the financial support necessary for the completion of their studies. Since they are unable to support themselves, they seek help from different sources. Consequently, private backing companies and organizations are offering their services against heavy interests, and provide the students with study loans, which become almost impossible to pay by the students. It is therefore instead of deducting the amount of be based scholarship from the need based one, separate funds must be allocated for the students displaying extraordinary performance in academics and sports. Merit-aid, Clemmitt views, may create heavier loan burdens for low-income students. The University of physician recently discovered that low-income students were graduating with more debt than middle and high income students and concluded that its grant program which had 60 percent merit-based awards. (2010 4) As a result,