Students stiffed on financial aid

By: Timothy Fenster

Posted: 2/3/10

State colleges and universities were created to offer high-quality education to students who can't afford private universities. To further help underprivileged students, state colleges began offering financial aid and institution grants.

Despite this, an Education Trust report shows many schools aren't as generous to needy students as they could be. The report found in 2007, schools spent $761 million on students who came from families earning more than $80,000 annually, which is nearly equal to the amount spent on students with an annual income of less than $54,000. Schools are spending as much on students who can afford an education as they spend on students who need the money to get through school.

In addition, the report found in 2004, only 10 percent of students attending public four-year doctorate-granting schools came from families earning less than $20,000 annually and 16 percent came from households earning between $20,000 and $40,000 annually. This number is low considering that in 2007, nearly 20 percent of American households earned less than $20,000 annually and another nearly 20 percent had an annual income of $20,000 to $37,500.

Brockport student Katie Mosher said it's likely that only a very small portion of Brockport's student body consisted of students who came from low income households.

Many less wealthy individuals are turning to private universities rather than state universities, which were originally intended to offer an affordable education. In the 2004 report, 26 percent of those enrolled in private universities came from households that had an annual income less than $20,000 and 28 percent came from households that had an annual income between $20,000 and $40,000.

However, the report does show some positive trends in recent years. Between 2003 and 2007, institution grants increased by an average of 23 percent to students from the bottom 20 percent of household incomes - those earning less than $30,201 annually. In addition, grants decreased by four percent to those in the top twenty percent, from families earning more than $115,399 annually.

Brockport student Sheree Francis said financial aid isn't completely fair because some students will have to spend years paying off their student loans while others get an education handed to them.

Still, for many from low income families, institution grants and financial aid are needed to enroll in college. According to www.suny.edu, the average cost for a student enrolling and living at a SUNY campus is $19,250. This means for many, a year away at college is equal to their family's income for an entire year.