Is Financial Aid Reform on the Way?

With the insane price of tuition and an economy that’s making people wonder how they’re going to pay their gas and food bills — much less college — it may feel like a college education isn’t going to become more affordable any time soon. Well, here’s what may be some good news — the “Rethinking Financial Aid” study group. So what is the group all about, and who’s a part of it? The Rethinking Financial Aid study group consists of experts in the financial aid field. It’s led by an economics professor, a senior executive at CollegeBoard (the organization that runs the SATs), and the president of an educational foundation. The group has spent two years investigating ways to make the financial aid system work better and to make college more affordable for everyone, and they’ve recently submitted a final report on their research. Among other recommendations, the researchers argue that the financial aid system needs to be radically simplified, and that Congress should help fund college savings accounts for lower income families. Sounds like a pretty good start? What do you think? Are big changes on the way for our financial aid system, or do you think we’re going to be headed for more years of the same?