The Financial Aid Information Gap

January 19, 2011  |  

(Inside Higher Ed) — The last two presidential administrations have focused significant attention and energy on trying to simplify the process by which would-be college students apply for and receive federal financial assistance, given the prevailing view that the complexity of the system deters some young people from higher education,  A study to be released during an event on Capitol Hill today shows just how large the information gap is. The report from the College Board’s Advocacy and Policy Center, “Cracking the Student Aid Code,” finds that many parents have little understanding of how much it costs to attend college and of financial aid options — and that the knowledge deficit is biggest for those who already have the least access to higher education: students from Latino families and from low-income backgrounds.

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