As college tuition increases, it’s harder than ever for families and students to afford college. Studies have shown that over 10 years, colleges have made the change from need based aid to merit based aid. Colleges are competing for students who achieve more, as stated I the wall street journal.
The most effective way to use college money is need based aid. In the article, in the Wall Street Journal, “Yes: It gets the biggest bang” by Mark Kantrowitz it states that, “The six year graduation rate is 45% when grants cover less than a quarter of college costs, and 68% when grants cover more than 3 quarters of costs” based on 2009 data. Another piece of evidence is, in “Yes: it gets the biggest bang” it states, “Millions of students never even enter college due to their own limited financial resources.”
Some people say the most effective us of college grant money is merit based aid. In the article, “Yes: It gets the biggest bang” It states that, “Colleges have been shifting funding from need based aid to merit based aid-effectively proving welfare to the wealthy. The people who say this are wrong. Colleges should be giving money to the people that need it. For example, in “No: its middle class welfare” by Greg Forster it states, “The problem for low income students is the lack of aid.” Higher income people can afford college, but some medium class and low income families cannot pay off that enormous amount of money.
College financial aid should be given to the people who need it the most. If more colleges give money to the poor, more people around the world will graduate. Then the world will be full of college graduates who make a lot of money.
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