Children from higher income homes already have a score of advantages (including better opportunities in secondary education, providing SAT prep, etc) over those from poorer income brackets. The entire POINT of financial aid was to provide assistance for those students whose families would not otherwise be able to even consider college- to ensure that higher education was not simply something reserved for the upper classes of American society.
Why on EARTH should a family that makes six figures a year get the same assistance for college that a family making 40K a year gets? The former has a far better likelihood of being able to subsidize that child's education (and qualify for/repay better loans to boot) than the latter.
A great deal of the "no" answers here seem to be from upper middle class kids whining that they didn't get more financial aid. Grow up, work hard enough to qualify for merit-based scholarships, and get a part time job then, kids.
Clearly, parental income should be a major factor, as unlike the 'no' side, including this factor makes the process more equal, and not only that, but it's really hard to get a job while in college, as your schedule conflicts with work schedules.
That being said, the FAFSA form needs to ask for the parents' CURRENT income, and not the year before, because if the parent was making a six figure income last year, and was fired this year, when their son/daughter applies for college, that child gets zero financial aid, even though their parents are unemployed.
The fact that currently it is not being taken into consideration is ironic, the whole concept of college financial aid should be built on parental income, in case of countries developing countries - ethnic background, social status may also be integral. However, it is still debatable, whether solely income or assets too, will be taken note of.
Students from poorer families are subsidized by grants and/or larger loans. This provides equal opportunities for higher education for all not just those who parents are able to afford to pay for it. Just because someone's parents are wealthy or not should not be any kind of governing factor in the rights of the child.
Yes, parental income should factor into college financial aid, because most children depend on their parents to support them through school. But it is unfair to penalize parents who have been responsible and have saved a great deal of money for their children's education. Income is a valid consideration, but savings is an unfair consideration.
Parents always say they want their child to go far in life. Well if the don't help them with it they would not be able to go to college without money. Yes you can get a scholarship but you some way to live. They say get a job well sometimes getting a job does not solve all the problems.
I'd just like to know how the kids of wealthy celebrities are scoring scholarships. It is wrong. Such aid should be reserved for students who truly need it. Instead, we are seeing a growing number of wealthy celebs abusing the system. How exactly is it even possible? When P. Diddy's kid was given a scholarship, it kept a needy child from having the opportunity of a college education. Why ask the poor to even do the FAFSA paperwork/online? Why ask the Middle Class? If the wealthy can obtain these scholarships for their kids, the average American family should be considered automatic recipients. The concept of factoring in parental income is good. The idea of clearly discriminating & catering to these celebs is not!
There is no legitimate reason that a child from a middle class family shouldn't get the same loan or scholarship as someone from a lower or higher class family. Parental income has nothing to do with the matter. Neither does any other factor. All that matters is that a student needs aid to get through college, if they had a parent who way paying for it, why would they need financial aid?
First off, people have this mislead belief that higher income families can afford college for their children, whether their be 1 or 8. They believe that higher income families always have a generous amount of money, no debt, and are always willing to supplement for their kids college. This is completely false and utter bull****. For example, the slight bitter tone I have is because I currently reside in a "fairly wealthy" family (in the 80-110k range) and that because of this, I fit very little financial aid (or at least the system and universities do) yet I try hard and get good grades and test great. While someone in a lesser income family can go to college for free or very little, I am set in a family to their head in debt and bills and I cannot get any aid for college, yet colleges assume they can. Some request that my parents pay up to half of the cost with no aid and that I cannot completely cover the costs in loans. How is this at all fair? I grew up in a hardworking family which have never gone to college, so how am I any better set for college and future, then a lesser income? Income does not necessarily mean that the child can be seen as wealthy as well, especially in families which may to refuse to pay for their child. Why should a child of a wealthy, TAX PAYING family, be set back in life? Isnt that wait... Reverse income discrimination?
If your old enough for college, a person should be able to provide their own means of going to college. Parents income should not play a role in how loans are figured. Some kids come from backgrounds were even if the parents made a good living they are unable to help their children.
I am going into freshman year paying for college on my own. My parents had six kids and simply did not make enough money to save up for everyone's college. My older sisters went through college while my dad was single and was barely making anything which enabled them to get a good amount of aid. However, As I enter college, My father has remarried and together they are making more money than before. Regardless of the fact that I am paying for college myself, I received zero aid from my school and have to take out full tuition in loans. After long conversations with the financial aid office, There was simply nothing they can do unless I wanted to emancipate myself. Financial aid should be based on the student first and then parental income can factor in after if the parents are planning on paying for their children's education. Everyone deserves the chance at an education without the stress of being hundreds of thousands of dollars in debt after they graduate.
My husband and I are now making good money. However we had a business that tanked (RadioShack franchise) and what we lost would have easily put one of our kids through college. We are still paying catch up on that 8 years later! But if you just take our income it looks like we can easily help our kids. We cannot! Frustrating situation!
I won't be getting any financial aid due to living in a dual income household. The fact of the matter is that one of those incomes is my stepfather. He won't be helping me pay for any of my education and my mother has her own bills to pay so she won't be paying for all of my education. Even working a part time job while finishing up high school and a full time job all summer (60+ hours a week making above minimum wage) I will still be unable to get financial aid.
My parents make a decent amount of money, But no where near the amount to pay my brother's loans along with mine. How is this fair? Of course the people who get to go to college for free will not complain since they are benefiting so much. I guess working hard these days just ends up hurting you more.
I am speaking for those middle class families out there who have children attending college. There is no break in tuition if you make a decent salary, And when I say decent I don't mean a fortune. I feel it completely unfair that my two children have to pay full price based upon our salary. There is nothing that says I have to pay for my kid's education, So why should what they pay be based on what I make? Meanwhile kids of lower economic families may pay little to nothing. Both students come out with the same degree, Only because one's parents make more, They are burdened with a ton of debt. How is that fair?
I am a full time student on my 2nd year at community college and i am $10,000 in debt. I am 21 years old and have been moved out of my parents house since i was 18 not by choice. I am still seen as a dependent on my parents and have to get aid based on how much my parents make even though i support myself and get no help from them. I feel that there should be more evaluation and question follow ups as to what situation students are in other than assuming that everything is blakc and white and going off of what the majority is
I happen to pay for my own college, and I do not believe that a parents income should factor into my financial aid package equation, because they are not paying for it. I have always felt that way, and can never side on it any differently. I'm an independent young woman, who does not want my parents income to be factored into my college finances.