Many community college students who appear to be eligible for
federal student financial aid don't apply, according to a
report released Monday by the federal Advisory Committee on Student Financial Assistance.
The report indicated three major reasons for not applying for aid, with 20 percent of students reporting other reasons. The main reasons students didn't apply for aid were:\r\n
\r\n - They thought they were not eligible (39 percent)
\r\n - They had sufficient funds to pay for college expenses (35 percent)
\r\n - They found the FAFSA too complicated (6 percent)
\r\n
\r\nAdditionally, many community college students, including 28 percent of students with family incomes below $10,000 worked more than 30 hours a week. The report cites previous research that has indicated that students who work more than 15-20 hours a week while
attending college full-time see a negative impact on their academic performance. This stresses the importance of these students learning of their financial aid eligibility, namely their increased
Federal Pell Grant eligibility under the
College Cost Reduction and Access Act of 2007.
This is just the latest report stressing the need for students attending
community colleges, especially those planning to transfer to four-year schools to complete a bachelor's degree, to investigate financial aid options thoroughly. With lower rates of degree completion, higher rates of student loan defaults, and lower likelihood of applying for
college scholarships and grants, community college students can easily find themselves in an unnecessarily difficult financial situation.
Hard work, perseverence, and a commitment to exploring all options for
financial aid can keep community college students on the path to success. If you're attending or planning to attend a community college, start by
completing the FAFSA on the web, conducting a
scholarship search, and meeting with a financial aid advisor to minimize
student loans, avoid working yourself to death, and
find money for college.
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