Effects of Student Financial Aid on College Access Management Essay (Essay Sample)

Effects of Student Financial Aid on College Access
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Effects of Student Financial Aid on College Access
Introduction
Higher education is considered one of the essential tools for economic and social empowerment in the current society. Based on its role, the issue of access to education has always been a priority for stakeholders within the higher education sector. The setting up of the US Department of Education (DE) was mainly informed by the need to improve higher education access to all eligible students (Fuller, 2014). Further, DE was mandated to ensure education access for students worth very minimal financial capabilities that could enhance the completion of their studies. In the past, the US government has shifted from a grant-based financial aid to that of loans which are issued to students. However, there have been recent concerns that the changes in the students' aid program could be responsible for causing an impediment for students' access to higher education (Mitchell, Palacios & Leachman, 2015). However, irrespective of the financing model, most stakeholders within the education sector agree that financial aid has had a tremendous effect on college access within the United States. The study, therefore, seeks to examine how students' higher education access in the United States is affected by the current financing Aid.
Cost of education and its influence on college access
The issue of the rising cost of knowledge in the US has elicited many reactions within the past years. According to Geiger & Heller (2014), the skyrocketing price of education in the US has reduced the prospects of higher education for most of the students. Geiger & Heller (2014) added that currently, most learners and their financiers are struggling to raise adequate finances that can sustain their education process. Bettinger (2015) supported the above research by stating that within the 2015-1015 financial year, the average cost of college education in the US was 13,544 US dollars. Alternatively, Bettinger (2015) added that within the same period, the average student accommodation within the universities was 10,500 US dollars. Figure 1.0 below shows the representation of Bettinger (2015) on the increasing cost of education in the US.