Even before the recession, the rising cost of college was threatening to put higher education out of reach for most Americans. According to a report from the National Center for Public Policy and Higher Education, tuition and fees increased 439 percent from 1982 to 2007 while median family income rose 147 percent.
Thus, the share of family income required to pay for college, even with financial aid, has been growing. In the last decade, borrowing has more than doubled, with many students taking on debt approximating the size of home mortgages.
The student loan market is currently split between the Federal Family…
In This Issue
Overhauling the Financial Aid SystemRead More
Student Financial Aid TermsRead More
Major Provisions of the Student Aid and Fiscal Responsibility ActRead More
Income, Costs, and the Current Financial Aid SystemRead More
Recent Action on Student Financial AidRead More
Pro & Con
Should the House Pass H.R. 3221, the Student Aid and Fiscal Responsibility Act?