Introduction
It's no secret that financing a college education is getting tougher.
College costs have skyrocketed over the past decade or so, and there's no relief in
sight. Average tuition at four-year colleges will increase 7 percent this school year,
double the rate of inflation. Student aid is not increasing fast enough to plug the
growing gap between tuition and family finances. In addition, there is a growing
number of older students entering college today. These students have families
that they need to support. I know, because I am a family man who has returned
to school. I wish to finish my degree at the Rochester Institute of Technology.
The only problems I face are financial in nature. It is with this in mind that I set
about this research. The not so simple question: Is financial aid available to older
students, and if so, how do they go about obtaining it?
The Cost Of Education
The cost of higher education varies by type of institution. Tuition is highest
at private 4-year institutions, and lowest at public 2-year institutions. The private
4-year colleges nearly quadrupled their average tuition rates between 1975 and
1996. For private 4-year colleges, tuition and fees for the 1995-96 academic year
averaged about $15,400, compared with about $5006 at public 4-year colleges.
The cost of attending an institution of higher education includes not only tuition
and fees, however, but also books and supplies, transportation, personal expenses
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and, sometimes, room and board. Although tuition and fees generally are
substantially lower at public institutions than at private ones, the other student
costs are about the same. According to MS-Encarta94,"the average cost for
tuition, fees, and room and board for the 1995-96 academic year at private 4-year
colleges was about $20,165. At public 4-year colleges the average combined cost
was about $9290" (Encarta94).
The cost of attending RIT is approximately $15700 per year. This does not
include room and board, or books, and supplies . This cost falls in line with the
national average. However , according to Rachel Shuman of the RIT Financial Aid
Department,"the increase in cost at RIT was 4.8 percent for the 1996-97 academic
year over the 1995-96 academic year." This falls 2.2 percent below the national
average for 4 year private institutions. Still, $15700 is a lot of dollars for an
unemployed family man or woman with little or no income.
The Cost Of Living Factor
Though the Cost Of Living is not directly related to tuition it is still a major
player in the decision making process. Is it possible to maintain a family financial
structure while paying for an education? The cost of a mortgage, or rent, and other
bills that are associated with living adds up to many thousands of dollars per year.
These costs in addition to what the tuition, books, and supplies total are expected,
and have to be dealt with.
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The financial burden alone can seem over-whelming to some. But
let us consider what the total cost of living and attending a four year private
institution are. The Bureau of Census statistics for the County of Monroe
indicate "that the approximate average income for a family of four is $50964.
The poverty level for a family of four is approximately $15455". These are
statistics calculated for the 1995 calendar year. No newer statistics were available.
With these statistics in mind we can then determine the financial model we must
follow. This model will determine what the total yearly outlay a family of four
must shoulder in order to send a person to RIT.
The Financial Burden
First and foremost a family has to live. The Census data indicates that the
minimum a family must earn is "a poverty level income." So, let's assume a family
needs $16000 per year for living expenses. The cost of attending RIT is
$15651 per year. Books and supplies are approximately $1200 per year. Finally,
travel expenses will be approximately $500 per year. I am assuming that one
spouse will be working to cover the living expenses. So, I am excluding medical
and dental costs. These costs are partially or fully covered by an employer. In the
event they are not let us include them in the poverty scenario, which basically
means the family must pay the costs.
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The total amount of funds needed are $17700 the first year. If you increase
that number by 4.8% each year thereafter you can come up with the projected
amount for each school year.The $17700 figure remains the obstacle to overcome.
This cost has to be covered by Financial Aid. If this cost cannot be covered by the
available system, the student will not be able to pursue a standard four year degree
at RIT.
Family's Will Strain
It's going to be tougher to pay for college in 1996, and that's going to
widen the gap in enrollment between rich and poor students that the nation has
struggled three decades to close. Average tuition at four-year colleges will increase
6 percent this school year, double the rate of inflation. But family income isn't
keeping pace; "after adjusting for inflation, the average family has gained hardly
any ground in the 1990s," says the Department of Labor. As a result, says the
Department of Education,"sending a student to a private college in 1996
without any grants or loans will require more than a third of a typical family's
income and nearly two thirds of the income of a working-poor family."
The Government
Student aid is not increasing fast enough to plug the growing gap between
tuition and family finances. The federal government supplies 75 percent of student
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aid. But the value of federal grants has eroded sharply, covering only 10 percent of
tuition today, compared with 20 percent a decade ago.
The Financial Aid Page explains that:
Congress's budget-cutting Republicans want to spend $450 million less in
1996 on student grants, a move that education officials say would take
nearly 200,000 student off the grant rolls. Also at risk: a new federal
program that helps less affluent students by permitting them to repay
federal loans over a longer period if their incomes' after graduation are
modest (Kantrowitz).
Not surprisingly, the American Council on Education an organization of
colleges and universities, recently reported that fewer colleges than in the early
1990's report enrollment increases among black and Hispanic students, who are
generally less able to pay for college.Once in school, more and more students
must work to pay their tuition bills. At least 40 percent of full-time undergraduate
students are earning while they learn, says the ACE.
The prognosis isn't encouraging. "The tuition spiral is not likely to end, nor
is student aid likely to catch up anytime soon," write college cost experts
Lawrence Gladieux and Arthur Hauptman in a new report, "The College Aid
Quandary." To a nation that likes to think of itself as a meritocracy, not merely a
bastion of privilege, that's a disturbing message (Kantrowitz).
Well, that's a lot of important statistical information. Enough I think that
most people would like to throw this paper out and forget the whole idea of
returning to school. But not so fast, there is a light at the end of this tunnel!
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Where Should I Begin My Search?
The financial aid office at the school you plan to attend is the best place to
begin your search for free information. The financial aid administrator can tell you
about student aid available from the federal government, your state government,
the school itself, and other sources. You can also find free information about
student aid in the reference section of your local library (usually listed under
"student aid" or "financial aid"). These materials usually include information about
federal, state, institutional, and private aid.
The major source of student financial aid is the U.S. Department of
Education. Nearly 70 percent of the student aid that is awarded each year comes
from the U.S. Department of Education programs (approximately $23.4 billion in
1992-93). Student aid is also available from other federal agencies, such as the
U.S. Public Health Service and the U.S. Department of Veterans Affairs.
The free student financial aid materials available in the financial aid office at your
school include The Student Guide, a free booklet about financial aid from the U.S.
Department of Education, and the Free Application for Federal Student Aid
(FAFSA). (Education)
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Financial Aid for Older Students
Many scholarship and fellowship programs do not have age restrictions. If
there are restrictions, they are expressed in terms of the student's year in school
(e.g., high school senior) and not as an age limit. Thus there are many awards for
which older students are eligible, simply because the awards do not disqualify
students based on age. Older students should conduct a search for aid just like
younger students. There are no,"age restrictions on eligibility for federal student
financial aid. Although many schools restrict eligibility for the school's own
financial aid programs to the first Bachelor's degree, some schools will waive the
restrictions when the student is an adult returning to school to earn a second
degree in preparation for a career change" (Kantrowitz).
The Financial Aid Office
Following the advice of the sources I have used for compiling this
research paper I contacted the Financial Aid Office at RIT and set up an interview.
While waiting for the date of my appointment I compiled a list of questions I
would ask the Financial Aid Officer(FAO). When the day of the interview was at
hand I was prepared. The FAO's at RIT are assigned to students alphabetically.
My FAO is Rachel Schuman and she was genuinely surprised that I had a prepared
list of questions. Here is a synopsis of that interview.
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I asked her what the total cost of attending RIT would be for the coming
school year? What expenses are incurred? What are the chances of being turned
down?
She was fairly straightforward about answering most of the questions that
I posed. However on some sticky issues she was reserved. At one point she had to
check with her boss for an answer. I wondered if she was merely asking her boss if
it was against policy to answer certain questions.
There were a number times that she simply pointed across the hall to
admissions. Indicating that they could answer my questions better.
The basic answers were that Yes RIT gives Merit Scholarships, and that
probably some type of loans and/or work study program would be required.
Mrs. Schuman then told me that if you are eligible for aid you will receive it.
I was not particularly encouraged by her explanations and as I found out later I
as right.
The first thing you have to do is get accepted by the College Admissions
Department. This in itself is another bureaucratic nightmare. I talked to Al Biles
the Assistant Dean of Computer Information Technology and said,
"Just go over to admissions and sign up."
Well when I got to admissions I paid my fee and waited for three weeks for
a letter that never came. Instead I got a postcard telling me I need to get my GED.
I went back to see Mrs. Schuman.
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Rachel then explained to me that there is a process for obtaining financial
aid. You must first fill out all necessary forms and applications. Then according to
the information you supply you will be assigned a Student Aid Report(SAR). The
SAR will show your Expected Family Contribution(EFC). Then your EFC is
subtracted from the schools Cost of Attendance which gives your FAO the
students Financial need.
Based on my interview with Rachel Schuman it became apparent that I
needed to arrange an interview with admissions. In order to clear up the two
unanswered questions. But, before I left, Mrs. Schuman gave me three applications
to fill out. The FAFSA, the New York State Tuition Assistance(TAP) application,
and the RIT Application For 1997-98 Financial Aid For Continuing Undergraduate
Students. At this point it was becoming very clear to me that there is money
available, but the process is slow and filled with bureaucratic red tape. I
guess if you want to play though, you might as well play with the big kids.
Admissions
Shortly after my talk with Rachel Schuman I telephoned Renee Minnich.
Renee Minnich is the Assistant Director of the Office of Admissions for RIT.
I asked her,"What portion of the most recently admitted class is paying full
tuition?"
Her reply, "Practically nil. Most of our students receive aid. Those that do
are working full time and attend class at night. But they are usually subsidized by
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their employers."
"Do you package preferentially?"
"Yes we have merit based scholarships for outstanding students. But we
attempt to meet the needs of each student individually."
Conclusion
Well there we have it. The system at RIT is set up as a meritocracy for the
most part. Those students which have proven themselves in High School or are
transfer students have a far better chance of receiving grants and scholarships. The
rest of the students will receive some sort of loan relief. Still others will receive aid
based on their financial situation. The system is complicated and you the student
are at its mercy. Remember also, you must get admitted first before you need
apply for financial aid.
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