Posted on

The story of financial aid

For my story,  I interviewed Patrick Early of EIU, and he in the EIU Marketing and Communication department. Tuition is important to every student, no matter what school you go to. With this in mind, the focus of my story is about college tuition.

“Students should know that EIU tries its best to keep tuition low and affordable to everyone” as stated by Patrick Early. College tuition in 2005, only cost $4,132.50 for the entire school year and fees were $1,648. In  2009, tuition had risen to about $6,540 for that entire school year. Now in present day 2014, tuition has doubled that of 2005’s tuition cost and has hit $8,490. With fees for the year being $2,653, which is half of the tuition for the 2005 fiscal year. This covers school utility fees, teacher payroll, and some of the equipment used by faculty and students.

State laws have been put in place like the law of (110 ILCS 665/10-120) which says that an Illinois residents tuition will remain the same for four continuous academic school years. This rate is also extended if the student will need more than four years to complete their degree. Like anything else, this is limited to a set number of extra semesters that have to be approved by the University. Meaning that if a student needs more that the traditional four years to complete their degree. They will be granted additional time, but only for a limited number of extra semesters. If you exceed the maximum semesters, you will have to pay for you own tuition. Depending on the University and major will determine how many extra semesters the student will receive financial aid. This is important because some students constantly switch classes and majors throughout the college career. This is kept from most students, and some think its okay to keep switching majors without knowing that eventually they will not receive financial aid if they don’t graduate after a set amount of time.

Students fail to apply for financial aid on time, this why some lose out on money they could receive.  Applying on time also affects how much money you will receive. If you apply late you may receive only half or even less for the Pell or Map Grant than if you would have applied on time.

In conclusion, EIU recognizes that student tuition is rising. They are trying their best to only use it to cover what is needed and nothing more. Most students fail to apply for financial aid on time, but some also fail to graduate within the required time frame, because they constantly switch their majors.  These are all important because they affect how we as students pay for schooling. If the price of tuition continues to rise how will we be able to pay for school?

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s