Pell Grant less stressful

Growing concerns for the cost of high education may be lessen if Congress decides to approve a plan to make financial aid easier on low income families.

A proposed change to the selection process for the Pell Grant may help more students from low income families by focusing on family size, adjusted gross income and Internal Revenue Services providing the financial information instead of the rigorous FAFSA form.

The maximum dispersement of the Pell Grant will be gauged by the Consumer Price Index that will most likely develop a fair standard of coverage for financial aid based on inflation-free dollars. As the price of education changes so will the Pell Grant.

The most promising aspect of the discussion is the idea of a college savings accounts to be opened long before a child reaches the age for college, collecting interest as the funds matures. Along with a change to the payment plan for Stafford Loans to encourage low income families to stray away from private loans.

This is great! This will allow more people the chance to go to college and alleviate some of the financial burden involved.

For more information:

http://www.nytimes.com/2008/09/19/education/19college.html?_r=1&ref=education&oref=slogin