As the economy worsens, increasing numbers of college students are applying for federal financial aid — and partly as a result, the federal Pell Grants program may need up to $6 billion in additional funds next year, Bush administration officials warned Congress last week.
The increased demand for Pell Grants is likely a function of older, nontraditional students returning to school as well as more students qualifying for aid, according to The New York Times. And at Yale, the Student Financial Services Office is bracing itself for a possible onslaught of requests for reevaluations of financial aid packages, Director Caesar Storlazzi said.
“Certainly we wouldn’t be surprised that the worsening economy would affect people’s ability to pay tuition,” Storlazzi said. He cited lost jobs, decreased salaries or changes in a family’s asset picture as factors that could lead to requests for more aid. Read full story. (Yale Daily News)