Sen. Christopher Dodd is trying to make it a bit easier for college students and their families to get the financial aid they need to pay for school.
Dodd released a resource guide on financial aid on Monday called “Ready for College: A Resource Guide to Financial Aid for Students.” A news release from the senator’s office calls the guide “a one-stop-shopping resource for federal and state aid programs that they may be eligible for.”
Dodd says he has been a strong supporter of affordable college, and worked toward slowing down rising tuition costs and increasing financial aid.
“For students just out of high school or adults returning to school, the path to college is full of obstacles,” Dodd writes in the guide. “In today’s economy, families are often forced to dip into their savings to put food on the table or to keep their homes, leaving far too many talented high school graduates unable to go to college simply because they cannot afford it.”
According to the National Center for Educational Statistics, 47 percent of college undergrads received federal student financial aid for the 2007-2008 school year, and only 27 percent received federal Pell grants for that same year.
Federal Pell Grants are awarded to undergraduate students, and they do not have to be paid back. The amount awarded depends “not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less,” according to studentaid.ed.gov.
According to the statement, Dodd “continues to lead the fight for increases in Pell Grants and to strengthen protections for student borrowers, including loan forgiveness, income-based repayments, and greater accountability of private student lenders to ensure students are getting fair and safe loans.”
