USNews Peer Assessment

Parents Forum
61

<p>hazmat,</p>

<p>As you note, the Pell grant has fallen behind as something that can really help low income students. It is one of the reasons I was posting on another thread about the rate of tuition inflation. The other posters had thoughtful positions on why education may be a special market that may justify a higher inflation rate than the rest of the economy. However, I am not yet swayed by their arguments. I do not think the rate of tuition increases at most of the colleges can be fully justified. It is becoming harder and harder for the federal government to give a leg up to low income student when the tuition increases can be almost as much as the a Pell grant. Over a 4 year period the tuition increases are well above the amount provided by a Pell Grant which was $4000 in 2002-2003.</p>

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<p>ohmadre, any need-based financial aid plan would include Pell grant money if the student were eligible. No college gives its own instutional money in lieu of Pell - though of course many give additional money on top of Pell. In other words, finaid looks like this:</p>

<p>subsidized loan + pell grant + work study + institutional grant=cost of attendance - EFC</p>

<p>I think Princeton no longer requires loans, but the Pell grant would still be part of the equation for any student eligible. </p>

<p>There might be a difference at a college that offers merit aid - such a as a full-ride scholarship - in that case the college aid would theoretically obviate the need for a Pell grant. But that wouldn't apply to Harvard or Princeton.</p>

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<p>Many Pell recipients also will get a supplemental grant too. The two don't amount to much but it doesn't come out of the school coffers.</p>

<p>FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT</p>

<p>What is a Federal Supplemental Educational Opportunity Grant?</p>

<p>An FSEOG is for undergraduates with exceptional financial need—that is, students with the lowest EFCs— and gives priority to students who receive Federal Pell Grants. An FSEOG doesn’t have to be paid back.</p>

<p>What’s the difference between an FSEOG and a Federal Pell Grant?</p>

<p>The U.S. Department of Education guarantees that each participating school will receive enough money to pay the Federal Pell Grants of its eligible students. There’s no guarantee every eligible student will be able to receive an FSEOG; students at each school will be awarded these funds based on availability at that school.</p>