Another semester and deeper in debt: More than 70 percent of all college students reliant on aid
By Catholic Online (NEWS CONSORTIUM)
8/22/2013 (4 years ago)
Catholic Online (www.catholic.org)
College students are an optimistic lot. They have the rest of their lives to repay their student loans, which according to a new report, is substantial. According to the U.S. Department of Education's National Center for Education Statistics, the federal government provided 71.4 percent of full-time college students with some form of taxpayer-funded aid for their education. These figures were for the 2011-2012 school year.
College students are an optimistic lot . they have the rest of their lives to repay their student loans, which according to a new report, is substantial.
LOS ANGELES, CA (Catholic Online) - The report found that 55.2 percent of full-time college students in the 2011-2012 school years took out direct federal student loans. In addition, 47.4 percent received a federal grant, and 10.5 percent were in some type of federally backed work study program. Essentially, most full-time college students received $10,500 in federal aid during the year - which could easily exceed $50,000 upon their graduation.
This appeared to be a recent trend. The average value of the direct student loans made to a full-time college student in 2011-2012 was $7,000, according to the report. The average value of the Pell Grants made to full-time students was $4,400.
While 71.4 percent of full-time college students received federal aid in the 2011-2012 school years, 24.0 percent got aid from state governments.
State governments chipped in, giving the full-time students they aided $3,300 during the year, with $3,200 of that being outright grants - gifts that are not expected to be repaid.
These figures arrive just as President Barack Obama was preparing to embark on a bus tour on which he intends to propose ways to "fundamentally rethink and reshape" the higher education system in the United States.
Here's the clincher: Since Obamacare was enacted, the outstanding balance on federal direct student loans has increased by 265 percent.
The Health Care and Education Reconciliation Act, one of the two bills, together with the Patient Protection and Affordable Care Act, which comprise Obamacare--included language terminating the program through which the federal government guaranteed student loans made by private lenders.
After enactment of Obamacare, all federally guaranteed student loans were made directly by the U.S. Treasury.
"Under the DL [direct loan] program, the federal government essentially serves as the banker--it provides the loans to students and their families using federal capital (i.e., funds from the U.S. Treasury), and it owns the loans," the Congressional Research Service explains.
Copyright 2017 - Distributed by THE CALIFORNIA NETWORK
Pope Francis Prayer Intentions for OCTOBER 2017
Workers and the Unemployed. That all workers may receive respect and protection of their rights, and that the unemployed may receive the opportunity to contribute to the common good.
Finding the right College
There's no magic formula for choosing a college, but there are steps you can take to find a good fit. Use this tool to start your journey.
Latest College News
One hundred and seventy-nine years ago, two Jesuit priests sold 272 persons at a slave auction. Their families were torn apart: many of ... continue reading
(Vatican Radio) Pope Francis on Friday visited one of Rome's major institutions of higher education today: the UniversitÃ degli ... continue reading
The UCLA campus has been put on lockdown after reports of a shooter in the university's Boelter Hall were released via social media. ... continue reading
In a move reminiscent of the early 1900s, North Carolina State University segregated a student Christian group from the rest of the student ... continue reading
St. Mary's University in Twickenham, London has been formally approved to name one of their buildings after Benedict XVI. LOS ANGELES, CA ... continue reading
by Catholic Online
- St. Edmund Rich: Saint of the Day for Monday, November 20, 2017
- 'DEFEND the Pope!'
- Daily Reading for Tuesday, November 21st, 2017 HD Video
- Daily Reading for Monday, November 20th, 2017 HD Video
- Do you know what the Church really says about Nuclear War?
- The Remarkable Story of an Underground Priest Living in China
- Daily Readings for Monday, November 20, 2017
- Catholics are sharing Christ's compassion. HD
- Daily Reading for Sunday, November 19th, 2017 HD
- Did Pope Francis blast 'perverse attitude' of climate change deniers? HD
- Scientists warn: The end of life as we know it is near HD
Learn about Catholic world
Inform - Inspire - Ignite
Catholic Online Saints
Your saints explained
Catholic Online Prayers
Prayers for every need
Catholic Online Bible
Complete bible online
Catholic Online News
Your news Catholic eye
Today's bible reading
Products and services we offer
Catholic Online Shopping
Catholic medals, gifts & books
The California Network
Inspiring streaming service
Learn the Catholic way