I expirenced the effects of shrinking financial aid when I enrolled for the 2011 fall semester. When I was given my financial aid packet before the semester began, I immediately noticed that my loan amount had decreased. My pell grant was also shorted my by hundreds of dollars. When I looked at the remaining out-of-pocket balance I wasn’t sure how I was going to pay thousands of dollars that I didn’t have. Nothing in my family has changed in the work aspect. My father is still unemployed and I was recently laid off from my full time job due to the business pulling out of the Saint Louis market area. My mother has managed to find a decent paying job recently but she has no degree. Her small income manages to pay the bills but leaves our family with no spending money. I don’t understand why my loans have decreased when our household’s income hasn’t increased. If anything, it has decreased over the past year.
It’s obvious that my family isn’t the only one affected by the smaller financial aid offered. Unemployment rate has been at one of the highest points in history yet the government decides to lower financial aid. This doesn’t make sense. Education should be one of the top priorities. We’re already behind in the education department compared to many other countries. Shouldn’t we at least keep financial aid as helpful as possible? A school that chooses to accept students who can foot the bill over other students who may struggle is as outrageous as the decrease in aid. Some wealthy applicants don’t have the required grades to gain acceptance to the university but are still picked over other students who have studied hard to achieve great grades hoping to attend a great college.
Whoever makes these decisions should go back to college to learn about the economy. It blows my mind to see financial aid shrinking in a time when it is needed most and colleges denying worthy students. The government can certainly earn the savings from another source. Taking it away from needy students and families is just wrong and will only create bigger problems down the long road of recession.