President Biden has proposed making community college tuition-free nationwide, believing it's a better way to tackle college affordability than student loan forgiveness. While a federal plan isn't underway yet, 35 states have implemented programs to cover remaining tuition after financial aid. New Mexico's Opportunity Scholarship stands out for extending benefits to adult learners and immigrants, and has seen a significant increase in college enrollment since its launch.
More students are dropping out of college, with 40 million currently unenrolled. Financial concerns are a major factor, especially for first-generation, minority, and low-income students. Over 26% of current undergrads consider leaving or face dismissal. Experts highlight the importance of financial planning and support for these vulnerable students.
Several universities are expanding their financial aid programs, providing more students with the opportunity to graduate debt-free. Vanderbilt University will offer full-tuition scholarships to families earning up to $150,000 annually, while Dartmouth has increased its income threshold for zero parent contributions to $125,000. These changes come amid concerns that rising college costs may deter enrollment, especially among lower-income families.
FAFSA application rates have plummeted (15%) due to form issues, jeopardizing aid for two million students. Experts fear eligible individuals, particularly low-income Pell Grant recipients, may miss out. Despite simplification efforts, states explore mandating FAFSA for seniors, as it correlates with college enrollment. Families often misperceive ineligibility, deterring applications. The Education Department must address FAFSA problems and provide students with essential financial support for higher education.
