To compete in the global marketplace, the U.S. economy heavily relies on higher education institutions to educate the college graduates and knowledge workers needed to create the innovative products and services of tomorrow. And yet, where once America led the world in educational attainment, recent data from the Organization for Economic…

Federal student aid comes from the federal government--specifically, the U.S. Department of Education. It is money that helps a student pay for higher education expenses (i.e., college, career school, or graduate school expenses). Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation.…

In 2007-2008, approximately 42% of community college students who were eligible to receive Pell grant funding did not file the Free Application for Federal Student Aid (FAFSA). Using data from the Beginning Postsecondary Student Study, this study examined the relationship between FAFSA filing status and persistence from the fall to spring…

For students and their families, deciding whether and where to go to college is one of the most important financial decisions they will ever make. However, unlike buying a computer, house, or car, most prospective students do not know how much it will cost them to attend a particular school until many of their choices about college have already…

This hearing is the third in a series examining critical issues in postsecondary education as the committee looks to reauthorize the Higher Education Act. The topic discussed is of paramount importance and is arguably the bedrock of Federal higher education policy, that is, the Federal financial aid programs and their effectiveness in providing…

By providing early, individualized estimates of college costs and financial aid, net price calculators can help prospective college students and their families look past often scary "sticker prices" and start figuring out which colleges they might be able to afford. These online tools, currently available on almost all college websites, can help…

When President George W. Bush signed the No Child Left Behind Act into law in 2002, the U.S. national high school graduation rate was 72.6 percent. Today, the national high school graduation rate has reached an all-time high of 81 percent and the number of low-graduation-rate high schools has declined considerably. While this progress is notable,…

For both efficiency and equity reasons, student loans schemes have been introduced by several countries. Empirical work has been carried out in order to measure the effectiveness of these policies, but, with few exceptions, their results are not comparable because of their concentration on specific aspects. The present work suggests a…

Federal student aid comes from the federal government--specifically, the U.S. Department of Education. It's money that helps a student pay for higher education expenses (i.e., college, career school, or graduate school expenses). Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation.…

Every year, millions of students who would have qualified for financial aid do not complete the Free Application for Federal Student Aid (FAFSA). Discouragingly, many of these students come from lower-income families and would have qualified for Pell Grants that do not have to be repaid. Using data from the Beginning Postsecondary Students…

In this study, the authors examined the impact of two interventions related to the Free Application for Federal Student Aid (FAFSA) on postsecondary outcomes of low- to moderate-income individuals. The two interventions were included: (1) providing an estimate of need-based aid compared against tuition costs for nearby colleges and assistance in…

From 2000-2001 to 2010-2011, the total amount of federal financial aid awarded to students under Title IV of the Higher Education Act (HEA) jumped from $64.0 billion to an estimated $169.1 billion, a 10-year increase of 164%. For 2010-2011, the Title IV programs accounted for 72% of the $235 billion in total financial aid received by college…

The Federal Pell Grant Program is the nation's largest need-based grant program. While students' initial eligibility for the Pell is based on financial need, renewal of the award is contingent on their making satisfactory academic progress (SAP)--meeting minimum academic standards similar to those proposed in models of performance-based…

The complexity of the Free Application for Federal Student Aid (Fafsa) has been well documented and exhaustively discussed: At six pages and 120 questions, it is longer than even the 1040 tax form, with its two pages and 76 questions (not including schedules). The Fafsa's length and unfamiliar language--terms like "emancipated minor" and…

As college costs have soared and the U.S. economy struggles to move out of the recession, more and more Americans have relied on federal student financial assistance programs to help them meet their postsecondary expenses. Data from the Federal Student Aid (FSA), an office of the U.S. Department of Education (ED), show that the number of students…