Cuts in federal aid have made affording college more challenging for students across the United States, prompting the education secretary to speak up about the cost problems facing those looking to further their education.

The price of higher education has been on the rise for decades, and student loan debt is nearing $1 trillion dollars, with an average college graduate owing upward of $25,000, according to a Nov. 29 article published by The New York Times.

Such facts have brought these financial frustrations to light, with movements such as Occupy Wall Street and the spin-off campaign Occupy Student Debt. This widespread anger prompted Secretary of Education Arne Duncan to speak out on this perennial issue at a financial aid workers conference in Las Vegas.

Duncan acknowledged the difficulties faced by most Americans when paying for higher education, especially with the tough job market because many must weigh the burden of heavy debt against the benefit of a college degree.

The education secretary focused on the cost problem, but also offered some methods the Obama administration aims to pursue, such as rewarding campuses based on progressive changes that increase graduation rates and close achievement gaps.

But in the spring, Congress proposed to cut funding from the Pell Grant program, a major federal financial aid program to assist needy students, according to a Feb. 15 USA Today article. Though the initial drastic cuts did not materialize, President Barack Obama’s administration did support some changes to the program, including eliminating the government subsidy that pays the interest on graduate students’ loans and the loophole that allows students to receive Pell Grants to attend school all year.

At Syracuse University, students face annual tuition increases due to decreased endowment, said Youlonda Copeland-Morgan, associate vice president for enrollment management and director of scholarships and student aid at SU.

Changes and cuts in federal aid will make affording college more difficult for thousands of students, but Copeland-Morgan said that ‘leaders in higher education are very much aware we can’t sustain the current levels.’

Tuition at SU increased 3.8 percent this year, the smallest increase in 46 years.

Copeland-Morgan cited numerous’ factors for the increased price of college education from inflation rates and contracted services to changes in state and federal aid. She acknowledged the increased tuition price at SU was also caused by decreased earnings on the endowment.

But she said SU is committed to keep tuition increases low by ‘tightening our belt’ to ‘decrease the cost of education while not reducing the quality education.’

Kaye DeVesty, SU’s director of financial aid, echoed similar sentiments regarding the administration’s mission to help students complete four years at SU.

‘We encourage all students to file for financial aid,’ DeVesty said. ‘We want to help in any way possible.’

Since the economic downturn of 2008, donations from alumni have helped sustain the university through the short term with the increasing number of students in need of financial aid. DeVesty also noted programs such as a financial literacy program, which helps students budget and understand smart borrowing.

Copeland-Morgan believes SU distinguishes itself with a ‘strong commitment to improve services to students, improve access to courses, academic advising, financial aid,’ which all lead to ‘increased satisfaction.’

Said Copeland-Morgan: ‘We are on the right path.’

jbundy@syr.edu 

Published on December 4, 2011 at 12:00 pm

Contact Jen: jbundy@syr.edu