Sunday, February 13, 2011

Should Kids Pay for their Own College

Should Kids Pay for their Own College - Students whose parents earn more than that but are not willing or able to contribute to college costs can get federal need-based grants only if they file successful appeals with their colleges.

But many private colleges have higher income cutoffs and will award scholarships to students from families with incomes in the low six figures. And many states and colleges award scholarships to students based solely on grades, test scores or other nonfinancial qualifications.

Public Agenda, a nonpartisan research organization, surveyed hundreds of students, recent graduates and dropouts. It found that 63% of people who graduated from college said they had received some financial help from their families. Only 42% of those whose parents did not help them managed to graduate from college.

Some college financial aid officers say finances alone might not explain the difference in graduation rates. Many parents cut off students who are already on their way to flunking out.

David Gelinas, the senior associate dean of admissions and financial aid at Davidson College in North Carolina, has seen plenty of students come into his office and declare that their parents are cutting them off because the students are partying, not studying.

Should Kids Pay for their Own College

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