Should the financial aid system be redesigned?

Should the financial aid system be redesigned? Going to college is a great step in life for a lot of us, but things now-a-days keep getting more expensive and many families don’t have the finances to afford it. We come to the one and probably the only option that is financial aid. Financial aid helps more than two thirds of the students, and some of them don’t use it the way they’re supposed to; some abuse the financial aid system and lie on the application so they can get money. Thanks to financial aid students have the opportunity to study in college and be able to earn a degree, but there are students that take advantage of it. I believe that financial aid system should be reconstructed as well as more security procedures should be added to the applications. The Financial aid was created in 1643. On the same year the first scholarship was given at Harvard University. The Land Grand Act was introduced by Justin Smith Morrill on July 2, 1862 and it was signed by Abraham Lincoln. The Morrill Act gave the states federal lands to construct colleges that offered traditional academic subjects. “In 1954 the College Scholarship Service was founded by a cluster of 95 private colleges and universities located in the northeastern section of the country” (McCormick, J.L). The College Scholarship Service group established a criteria to know if their families incomes are enough to be able to get an scholarship, they collected information from students by filling out a form, and students had to pay a fee for each college they sent the information. The Economic Opportunity Act was created on August 20, 1964, it also created a program known as Work-Study, and gives the students the opportunity to have a part time job while they are on college, it was alsgo designed to fight poverty. “The 1976 Higher Education Amendments reauthorized all existing student financial aid programs that required students to make satisfactory academic progress to receive Title IV funds.”