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Financial Aid in the News

States Boost Merit-based Aid At Expense Of Need-based Aid (Diverse: Issues in Higher Education)

"Despite a turbulent economy and an increased demand for state-funded aid, state financial aid agencies awarded $9.3 billion in funds to students during the 2006-07 academic year - a 10 percent increase from last year's $8.5 billion, according to recently released data in the National Association of State Student Grant and Aid Programs' (NASSGAP) 38th annual survey," Diverse: Issues in Higher Education reports. "Information from its recently released survey suggests that states have continued to focus on grant aid, making more than 3.7 million awards representing $7.6 billion in need and non-need-based grant aid, NASSGAP President Marilyn Cargill said in a statement. For many financial aid advocates, the report shows a continued trend that might hurt students who rely more on need-based aid and not merit-based aid. Of the grant funds awarded in 2006-07, 72 percent was need-based and 28 percent was nonneed-based - almost the same percentage seen in NASSGAPS report last year."

You can read the complete July 15, 2008 Diverse: Issues in Higher Education article on-line.

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