The cost of college is climbing higher and higher. At St. John’s, the cost of tuition has risen 47 percent since the year 2000, from $15,500 to $22,800, according to the office of financial aid.
These increases will affect college students across the country. In the case of many students, parents pay the majority of college expenses. Even students with parental help take out student loans, which must be paid after graduation.
One method of financing a college education involves grants from the student’s college. Approximately 60 percent of all students receive some grant aid, according to the College Board. At a private college, the average amount is $9,600 per student. Many St. John’s students receive some type of grant directly from the school, either based on need or academic performance. Other forms of grant aid come from scholarships, work study, and communities, organizations or corporations which provide scholarships to college students.
Federal student aid is another medium through which students can obtain money to finance a college education.
However, recent political pressure to lower federal student aid has raised the issue of cutting funding for college students. The House Education and Work Force Committee recently approved a bill to cut federal student aid by $14.5 billion over the next five years.
Many students, who rely heavily on money received through the various aid packages available, are upset about the possible cut in funding for the program.
“I think it’s ridiculous that they are giving less support to students,” freshman Christopher Popecki said. “Compared to other nations, where the government pays for education, our system seems less than adequate.”
Freshman Matthew Longo agreed, saying that cutting federal funding for tuition assistance will “make it harder for students to attend college and succeed in life.”
According to the College Board, a college degree is a necessary step on the road to success. A typical full-time worker with a four-year degree earns 62 percent more than a worker with just a high school diploma.
Final budget negotiations are continuing.