You have reached your limit of free articles this month.

Enjoy unlimited access to SpringfieldNewsSun.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.

X

Welcome to SpringfieldNewsSun.com

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

As price of college rises, so does federal aid


WASHINGTON (AP) — With college costs continuing to rise, more students are receiving federal financial aid, though state and institutional aid remains largely flat

Data released Tuesday by the National Center for Education Statistics, a branch of the U.S. Department of Education, shows 71 percent of all undergraduate students received some type of financial aid in the 2011-12 school year, up from 66 percent four years earlier.

Forty-two percent of students received federal grants, up from 28 percent, and 40 percent received federal loans, an increase of 5 percentage points.

Meanwhile, 15 percent received state grants and 20 percent received a grant from the college or university they attend — figures that have remained essentially unchanged since the 2007-08 school year.

Among full-time, dependent students, access to state grants actually declined, from 29 percent to 26 percent.

“I think these last four years were very tough for states, and certainly we weren’t surprised,” said Jack Buckley, commissioner of the NCES.

The data comes just weeks after President Barack Obama signed a law restoring lower interest rates for millions of college students. The law links student loan interest rates to the financial markets, meaning rates will be lower this fall because the government can borrow money cheaply at this time. However, student loans could become more costly if the economy continues to improve, and interest rates increase.

The law covers an estimated 18 million loans totaling some $106 billion.


Reader Comments ...


Next Up in Business

STORE CLOSINGS: Sears to close 50 auto centers
STORE CLOSINGS: Sears to close 50 auto centers

Sears Holdings is set to close 50 Auto Center locations, the company announced. Sears updated investors last week on its strategic restructuring program, stating the company aimed to save $1.25 billion through some store closures in 2017. The company already announced it would close 108 Kmart stores and 42 Sears locations. » RETAIL APOCALYPSE...
Two area health systems named Top 15 in nation
Two area health systems named Top 15 in nation

Kettering Health Network and Mercy Health have been named two of the Top 15 health systems in the nation by the international business research firm Truven Health Analytics. It’s the fifth appearance on the Top 15 list for the Dayton-based Kettering system, comprised of eight hospitals, including Kettering Medical Center, Fort Hamilton, Soin...
675 Ohioans complained about mortgage servicer sued by feds
675 Ohioans complained about mortgage servicer sued by feds

State and federal authorities have sued mortgage servicer Ocwen Financial Corp., saying the company botched the handling of millions of mortgage accounts, including 675 Ohio complaints. The Consumer Financial Protection Bureau said Thursday that the accounts Ocwen serviced were riddled with errors throughout the repayment process. It said the company...
Premier, UnitedHealthcare negotiations continue over health plans
Premier, UnitedHealthcare negotiations continue over health plans

Contract negotiations between the region’s largest health system and insurer UnitedHealthcare remain at an impasse as a deadline approaches that could jeopardize the health plans of up to 70,000 local residents. Premier Health and UnitedHealthcare, the area’s largest insurer, have been at an impasse in talks to renew their health coverage...
Dayton-area event will feature 500 small businesses
Dayton-area event will feature 500 small businesses

Ohio’s largest small-business-to-government-contracting event is set to happen Wednesday, the Ohio Development Services Agency said. The 2017 Ohio Business Matchmaker will be 8 a.m. to 5 p.m. Wednesday at Wright State University’s Ervin J. Nutter Center, 3640 Colonel Glenn Highway, Fairborn. RELATED: Defense contractor opens new office...
More Stories