<p>I apologize if this has been covered in a previous thread.</p>
<p>Are there any comparisons of the percentage of students on financial aid now and those of, say, 30 years ago, 50 years ago? </p>
<p>One would have to think that it is higher (maybe much higher) now than then, given the year in, year out escalating cost of education, coupled with "pay stagnation" of the last 25 - 30 years.</p>
<p>I know that the argument made, back when colleges were embarking on a catch-up strategy, was that education had for too long been "undervalued" insofar as what it cost the average student in tuition, room & board versus what he got in return. So, it made sense -- at least for a while -- for colleges to up their fees every year. I think we can mostly agree now that they have indeed caught-up -- and (more likely) surpassed -- that perceived inequity in their "cost/benefit" considerations (if you will). </p>
<p>While this doesn’t answer your question, you might find it interesting. Federal financial aid as we know it today didn’t exist 50 years ago. The first major wave of federal aid was the GI Bill following WWII</p>
<p>More so than costs I suspect the percentages of students receiving federal aid is more dependent upon federal policies and how those policies define need. For example, it’s recognized that Reagan cut aid to students. I can personally confirm this as I was a student in need of aid at that time. If I had been a student before or after those years I would have likely ended up with far less student loan debt. </p>
<p>Google history federal financial aid percentages. You’ll find some interesting info.</p>
<p>Ummm, the first GI Bill WAS 50 years ago… “By the time the original GI Bill ended on July 25, 1956…” [from gibill.va.gov]. </p>
<p>College expenses have gone up more quickly than financial aid. For example, a friend attended Yale, putting himself through school by working as a life guard during the summer and with a part time job during the year. Anyone know of a $55K summer job for a college student? As far as I know back in the 1950s the National Merit scholarships were $2K. Today they are… $2K.</p>
<p>The gov’t does have a hard time balancing the need for FA (as a social equality tool to give more needy people a chance for an education) with the probability of someone paying back the debt incurred. And I really can’t believe the students today who, for some reason, think they should be able to go any college they want for free.</p>
<p>And I really can’t believe the students today who, for some reason, think they should be able to go any college they want for free.</p>
<p>*** You stole my idea, Erin’s Dad! I was thinking exactly the same thing as I read the original post. My brothers & I only looked at schools we could afford. I have ridiculously smart brothers, but we knew nothing about financial aid. We just found schools we could pay for ourselves. It never crossed our minds that it could be any other way!</p>
<p>My grandfather put his brother through college by working the family farm. Then, his brother put him through college with money from his first engineering job.
I earned about half of my college costs every year by working the whole summer and living at home. I had a scholarship that covered about 1/3 of the total costs and my mom paid the rest. I graduated owing about $600 which was about 2 months pay (post tax).
My child’s college costs, annually, will be about the same as a very decent annual salary. He couldn’t earn 1/2 that in a summer.</p>