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Pell Grant Increase Will Help Low-Income Students, But More is Needed

Diverse: Issues in Higher Education

29, the new federal spending plan is set to increase the Pell Grant in 2023, allowing low-income students a chance to access up to $7,395 each year. According to the Department of Education, about six million students received Pell Grant funding in the 2020 – 2021 academic year. The total student loan debt reached $1.75

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Why Scholarships Are Vital for Low-Income Students and Families

Scholarship America

If college were accessible and affordable, students with high financial need would have a better chance to break the cycle of generational poverty; instead, the struggle to pay for higher education can leave them in dire financial straits. Scholarships can help fill that gap. However, the scholarship industry needs to evolve.

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What is Student Aid Index (SAI)?

The College Pod

The formula is: Cost of Attendance (COA) - Student Aid Index (SAI) = Financial Need Financial Need is considered the amount a family will need in financial aid to be able to afford the college. Some colleges will meet 100% of this financial need with grants and scholarships. Student Loans : Both subsidized and unsubsidized loans.

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How Net Price Calculators Can Better Serve Students

IHEP Institute for Higher Education Policy

In theory, this figure should account for the total cost of attendance – which includes average yearly tuition and fees, room and board, books, supplies, and transportation – minus any aid (need- or ‘merit’-based, federal, state, and institutional) that a student could potentially receive.

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How Does Early Decision Affect Financial Aid?

Student Loan Hero

You might not get merit-based scholarships. You might still be waiting to hear from scholarship organizations. If the financial aid package falls short, you’ll likely need to take out student loans or break your binding agreement. For low-income students, this deadline might feel too rushed to decide on a college.

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How to Close the Gap Between Financial Aid Offers and the Cost of College

CFAA College Financial Aid Advisors

Any financial aid offer letters received will outline the amount of scholarships, grants, and loans you can expect. The school may have additional funds for low-income students or may be able to point you in the direction of other scholarships. From there, they are able to offer financial aid accordingly.

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From College to Careers: The Pell Institute Receives $748,000 Ascendium Grant to Explore Career Development within TRIO Programs

COE

. ### The Council for Opportunity in Education (COE) is a nonprofit organization established in 1981, dedicated to expanding college opportunities for low-income, first-generation students and students with disabilities. As a 501(c)(3) nonprofit organization, we fund initiatives across the U.S.

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