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What are the challenges low-income young adults face in accessing and using financial aid for post-secondary education, and how can students overcome these barriers? Working with the Bill & Melinda Gates Foundation, FSG explores these obstacles and opportunities.
Top Takeaways
- The most cited challenges to financial aid access include a complex system, unpredictable packages, less access for community college students, under-resourced financial aid offices, and less availability of support that fosters completion.
- Just 40% of students from families in the lowest income quartile obtain post-secondary degrees within 6 years, compared to 68% of those from families in the highest income quartile.
- Foundations can help by supporting key existing aid channels, innovating aid access and delivery, and expanding the amount of aid in the system.
If low-income young adults are to have the resources necessary to complete their degrees, we will need to create a more streamlined, predictable, and equitable financial aid system than the one we have now.
