Though the rise in college student debt often has been blamed on rising tuition, a radical shift ... more Though the rise in college student debt often has been blamed on rising tuition, a radical shift in student financial aid-from a system relying primarily on need-based grants to one dominated by loans-has been equally important. Numerous reports have highlighted the burdens faced by students who borrow large sums, but less is known about students who are averse to borrowing. For these students, the increasing prominence of loans could actually narrow their options and decrease their chances of attending and completing college. Given the increasingly important role of student loans in financial aid packages, perceptions about debt influence the ability of loan programs to achieve their goal of equalizing opportunity for students at all income levels. Based on interviews with students, counselors, outreach professionals, and financial aid directors, as well as a review of relevant research, this discussion paper offers an initial gauge of the debt dilemma and recommends four broad strategies: (1) making more grant money available for low-income and first-generation students, (2) making loan programs more attractive and efficient through income-based repayment strategies, (3) better integrating financial aid awareness into high school counseling, and (4) providing more pathways for students who prefer to attend part-time. Loans are likely to remain a mainstay of federal financial aid programs, so as interest rates begin to rise for the first time in years, foreshadowing higher future payments, the problems faced by students who borrow as well as the barriers confronted by those who are averse to borrowing are only liable to increase.
Most students who enter a community college with the stated intention of attaining a credential o... more Most students who enter a community college with the stated intention of attaining a credential or transferring to a four-year university leave without accomplishing either of those goals (National Center for Education Statistics, 2011). This dissertation attempts to
Achieving the Dream, Inc. is a national nonprofit that is dedicated to helping more community col... more Achieving the Dream, Inc. is a national nonprofit that is dedicated to helping more community college students, particularly low-income students and students of color, stay in school and earn a college certificate or degree. Evidence-based, student-centered, and built on the values of equity and excellence, Achieving the Dream is closing achievement gaps and accelerating student success nationwide by: 1) guiding evidence-based institutional change; 2) influencing public policy; 3) generating knowledge; and 4) engaging the public. Conceived as an initiative in 2004 by Lumina Foundation and seven founding partner organizations, today Achieving the Dream leads the nation's most comprehensive non-governmental reform network for student success in higher education history. With nearly 200 colleges, 100 coaches and advisors, and 15 state policy teams-working throughout 32 states and the District of Columbia-Achieving the Dream helps 3.75 million community college students have a better chance of realizing greater economic opportunity and achieving their dreams. WWW.ACHIEVINGTHEDREAM.ORG Jobs for the Future aligns education with today's high-demand careers. With its partners, JFF develops policy solutions and new pathways leading from college readiness to career advancement for struggling and low-income populations in America. WWW.JFF.ORG MDC's mission is to help organizations and communities close the gaps that separate people from opportunity. It has been publishing research and developing programs in education, government policy, workforce development, and asset building for more than 40 years. MDC was the managing partner of Achieving the Dream: Community Colleges Count for six years and was responsible for its incubation as a national nonprofit. It is also the managing partner of the Developmental Education Initiative.
Please direct any questions about this report to TICAS and CCCSFAAA. acknowledgments table of con... more Please direct any questions about this report to TICAS and CCCSFAAA. acknowledgments table of contents introduction: making loans work documenting loan program practices: our findings ensure students know that loans are available provide guidance to help students understand the implications of their borrowing decisions coordinate with other student services professionals and faculty to make students' academic success the top priority require additional counseling for students who may be at risk deny individual loans when appropriate automate processes to maximize staff time with students and identify students needing outreach help students avoid default, but keep concerns about default rates in perspective
Though the rise in college student debt often has been blamed on rising tuition, a radical shift ... more Though the rise in college student debt often has been blamed on rising tuition, a radical shift in student financial aid-from a system relying primarily on need-based grants to one dominated by loans-has been equally important. Numerous reports have highlighted the burdens faced by students who borrow large sums, but less is known about students who are averse to borrowing. For these students, the increasing prominence of loans could actually narrow their options and decrease their chances of attending and completing college. Given the increasingly important role of student loans in financial aid packages, perceptions about debt influence the ability of loan programs to achieve their goal of equalizing opportunity for students at all income levels. Based on interviews with students, counselors, outreach professionals, and financial aid directors, as well as a review of relevant research, this discussion paper offers an initial gauge of the debt dilemma and recommends four broad strategies: (1) making more grant money available for low-income and first-generation students, (2) making loan programs more attractive and efficient through income-based repayment strategies, (3) better integrating financial aid awareness into high school counseling, and (4) providing more pathways for students who prefer to attend part-time. Loans are likely to remain a mainstay of federal financial aid programs, so as interest rates begin to rise for the first time in years, foreshadowing higher future payments, the problems faced by students who borrow as well as the barriers confronted by those who are averse to borrowing are only liable to increase.
Most students who enter a community college with the stated intention of attaining a credential o... more Most students who enter a community college with the stated intention of attaining a credential or transferring to a four-year university leave without accomplishing either of those goals (National Center for Education Statistics, 2011). This dissertation attempts to
Achieving the Dream, Inc. is a national nonprofit that is dedicated to helping more community col... more Achieving the Dream, Inc. is a national nonprofit that is dedicated to helping more community college students, particularly low-income students and students of color, stay in school and earn a college certificate or degree. Evidence-based, student-centered, and built on the values of equity and excellence, Achieving the Dream is closing achievement gaps and accelerating student success nationwide by: 1) guiding evidence-based institutional change; 2) influencing public policy; 3) generating knowledge; and 4) engaging the public. Conceived as an initiative in 2004 by Lumina Foundation and seven founding partner organizations, today Achieving the Dream leads the nation's most comprehensive non-governmental reform network for student success in higher education history. With nearly 200 colleges, 100 coaches and advisors, and 15 state policy teams-working throughout 32 states and the District of Columbia-Achieving the Dream helps 3.75 million community college students have a better chance of realizing greater economic opportunity and achieving their dreams. WWW.ACHIEVINGTHEDREAM.ORG Jobs for the Future aligns education with today's high-demand careers. With its partners, JFF develops policy solutions and new pathways leading from college readiness to career advancement for struggling and low-income populations in America. WWW.JFF.ORG MDC's mission is to help organizations and communities close the gaps that separate people from opportunity. It has been publishing research and developing programs in education, government policy, workforce development, and asset building for more than 40 years. MDC was the managing partner of Achieving the Dream: Community Colleges Count for six years and was responsible for its incubation as a national nonprofit. It is also the managing partner of the Developmental Education Initiative.
Please direct any questions about this report to TICAS and CCCSFAAA. acknowledgments table of con... more Please direct any questions about this report to TICAS and CCCSFAAA. acknowledgments table of contents introduction: making loans work documenting loan program practices: our findings ensure students know that loans are available provide guidance to help students understand the implications of their borrowing decisions coordinate with other student services professionals and faculty to make students' academic success the top priority require additional counseling for students who may be at risk deny individual loans when appropriate automate processes to maximize staff time with students and identify students needing outreach help students avoid default, but keep concerns about default rates in perspective
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