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ERIC Number: ED485429
Record Type: Non-Journal
Publication Date: 2004-May
Pages: 32
Abstractor: ERIC
Investing in America's Future - Why Student Aid Pays Off for Society and Individuals
Institute for Higher Education Policy
A bachelor?s degree has become worth more than $1 million in lifetime earnings, the other economic and social benefits of college are even more important, including increased tax revenues, decreased reliance on public assistance programs, lower unemployment rates, and increased voting, volunteering, and other civic activities. Because a college education benefits both individuals and society, the cost of providing college access to all citizens is shared by students and families, taxpayers, colleges and universities, and the private sector. Unfortunately, over the last three decades the amount and type of support provided by these partners has shifted considerably, resulting in diminished access for low-income students. To make college possible for current and future generations, the federal government and states must recommit to providing need-based grant aid in amounts that will allow low-income students to attend and complete college. This goal can be reached, in part, by: (1) doubling the maximum Pell Grant award and fully funding the program, (2) refocusing state student aid dollars on need-based grants, and (3) acknowledging the private sector as a full partner in the college financing equation, and particularly through scholarship aid. (Contains 10 figures)
The Institute for Higher Education Policy, 1320 19th Street, NW, Suite 400, Washington, DC 20036. Tel: 202-861-8223. Scholarship America One Scholarship Way, St. Peter, MN 56082. Tel: 800-537-4180 (Toll Free).
Publication Type: Reports - General
Education Level: Higher Education
Audience: Policymakers
Language: English
Sponsor: USA Funds
Authoring Institution: The Institute for Higher Education Policy; Scholarship America