“Postsecondary credentials are a good investment for individuals, families, and communities. Better-educated workers earn higher wages and are more likely to be employed. Higher education levels also correlate with favorable social returns such as better health and higher rates of civic participation.
One of the principal barriers to more students pursuing and completing college is the lack of sufficient financial aid and family income. Over the last three decades, college tuition and fees have increased nearly four times faster than median income and four-and-a-half times faster than inflation. The rapid increase in college prices, along with student aid funding that has not kept up, has resulted in sizable unmet need, which is the gap between college costs and what students can afford to pay on their own or with aid that does not need to be repaid. Unmet financial need among low-income college students is a barrier to persistence and completion and challenges our national credential attainment goals” (p.1).
“Affording and completing college is tough enough for any student. But for low-income students, and particularly those who are juggling multiple responsibilities at school and home, postsecondary education is especially challenging. That’s why students—and the institutions they attend—need to think expansively about how to weave together the financial supports available to meet the many costs of attending and completing college. Public benefit programs are a source of temporary support that can help these low-income students—and the families of their own that many have—as they strive to gain the education, skills, and training they need to attain economic self- sufficiency” (p.20).
“In this paper, [the author] describe[s] the main public benefit and refundable tax credit programs low-income college students are most likely to be eligible for and their interactions with federal- and state-funded financial aid, including Pell Grants and work-study” (p.3).
(Abstractor: Author)Full publication title: Bolstering Non-Traditional Student Success: A Comprehensive Student Aid System Using Financial Aid, Public Benefits, and Refundable Tax Credits