Magazine article Black Issues in Higher Education

Noteworthy News: Advocates Call for Increased Awareness of Financial Aid

Magazine article Black Issues in Higher Education

Noteworthy News: Advocates Call for Increased Awareness of Financial Aid

Article excerpt

RESTON, VA.

With the rising cost of college tuition making national news, financial aid initiatives and studies are taking center stage.

Lower-income families, who most need information about financial aid for college, have the least information about how to pay for higher education, according to a new Harris Poll, commissioned by the Sallie Mae Fund.

Among families making less than $50,000 per year, 60 percent said they need more information about how to pay for college, compared with 37 percent of those making more than $75,000 per year. Nearly half (45 percent) of parents surveyed with income less than $25,000 per year say they have "no idea" how they are going to pay for college for their children.

The survey also found that knowledge about financial aid is a key predictor of whether a young adult is likely to attend college -- the more a young adult knows about financial aid, the more likely he or she is to pursue higher education.

Minority families who were part of the survey expressed a greater need for financial aid information, with 66 percent of African American parents and 62 percent of Hispanic American parents saying they do not have enough information about how to pay for college, versus 44 percent of White parents. …

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