Argument Essay: The Role Of Financial Aid In College

A common complaint amongst college-age individuals is that college is often not very affordable. Although basically all accredited colleges have some sort of financial aid program, it is often not inclusive enough to reach the population necessary. A lot of students with very little family income are given enough aid to afford school, but the average middle-class student is buried in crippling debt. This leads to the conclusion that the basic financial aid policy that most colleges abide to is inefficient, and will furthermore just lead to a greater income gap between the wealthy and financially stable, and those considered to be in poor financial standing. A way to combat this is to revise the policy, and consider those students that are in the middle, between the economic elite and financially insufficient. Students of all income levels would be benefitted much more if financial aid was not handed out specifically based on the income-level of the student’s family, but on the achievement of the student as well. …show more content…
All colleges attempt to be socioeconomically diverse in some ways because it makes it clear that the institution values learning over income levels, and is based on achievement and not social status or the financial success of their students. An article from the Brookings Papers on Economic Activity, titled "The Missing "One-Offs": The Hidden Supply Of High-Achieving, Low-Income Students." states this: “There are many reasons for selective institutions to prefer socioeconomic diversity. These include, to name just a few, a deep respect for merit regardless of need; the fact that students whose lives were transformed by highly aided college education tend to be the most generous donors if they do become rich; a belief that a diverse student body makes instruction and research more productive; and pressure from society.” (Hoxby,