Monday, July 15, 2024

Your Home for

College Admissions News

Should financial aid be based on family wealth, rather than income alone?

 

The Hechinger Report

Institute of Higher Education Policy analysis reveals family wealth, not just income, impacts access to higher education, student loans, and graduation likelihood. Racial wealth gap exacerbates education disparities. Federal financial aid distribution based on wealth and income could create fairer system. Current financial aid decisions don’t consider wealth as FAFSA doesn’t ask for common wealth elements. White families’ assets exclusion from financial aid calculations benefits white students disproportionately. Rethinking need-based financial aid distribution could reduce racial wealth gap contribution. Generational wealth transfer also influences education savings.

Read More

 

Related Articles

Latest Articles

×