Washington Week: Student Voices (O)

Bush signs landmark college aid bill
By Briana Fasone
The Heights (Boston College)
10/01/2007

(U-WIRE) CHESTNUT HILL, Mass. — As students nationwide will soon reap the benefits of increased federal aid, some of the pressures of financing college tuition will be nullified. On Thursday, Sept. 27, President George Bush signed the College Cost Reduction and Access Act, which is being hailed as the most revolutionary piece of post-secondary legislation since the 1944 G.I. Bill.

In addition to lowering interest rates of Stafford Loans, the bill will boost financial aid available to students by increasing the maximum Pell Grant. Providing need-based aid, the Pell Grant is the largest source of federal assistance for low-income students, awarding a maximum of $4,310 per student annually. The $20 billion piece of legislation will increase aid to $5,400 by 2012.

"Pell Grants send an important message to students in need," Bush said in a press release Thursday. "If you work hard, and you stay in school, and you make the right choices, the federal government is going to stand by you."

Many individuals at Boston College believe that this bill will be effective in helping low-income students manage the ever-increasing costs of attending college.

"We think it's wonderful," said Bernie Pekala, director of student financial strategies, who added that Boston College previously worked with Senator Edward M. Kennedy's office on such issues. Kennedy (D-Mass.) is chairman of the Senate Health, Education, Labor and Pensions Committee and released the original copy of the bill earlier this month.

Dan Bunch, director of BC's "Learning to Learn" program, shared similar sentiments. "This legislation will go a long way to help students attend universities like BC," Bunch said. "Learning to Learn", an advocacy group for first-generation college students, receives aid from the federal government and offers a program in which its Pell recipients can apply for additional grant money through the school.

Approximately two-thirds of BC students receive some sort of financial aid - whether through scholarships and grants, work-study programs, or loans. Pekala said roughly 12 percent of students receive a Pell Grant, which, depending on need, ranges from approximately $400 to $4,000 in annual aid.

In general, the Pell Grant provides funds for students with the highest financial needs - students whose annual family income is below the $40,000 range. Pekala noted that the grant has neither a GPA nor a course requirement. "It is a great tool that shows students that they can receive funding," he said.

Pekala and other administrators working for Financial Services said that the University is committed to ensuring that qualified students can attend BC. Since most federal and state grants cover only a fraction of BC's $17,575 per semester tuition, the school must provide additional assistance. Of all the aid given to BC students through grants and scholarships, 85 percent was provided by the University this year.

"The school is significantly supporting the needs of students," Pekala said. "It's our mission."

While many believe that the College Cost Reduction and Access Act did not go far enough in boosting Pell Grant funds, Iris Tavarez, A&S '08, is satisfied with the bill. "An increase in the Pell Grant would give a lot of students the opportunity to come to BC - students who would normally overlook the school because it is so expensive," said Tavarez, a Pell Grant recipient and student employee at "Learning to Learn." She still receives approximately 50 percent of her financial aid from BC.

"While a $500 Pell Grant may not seem like a lot," Bunch said, "it is a lot to a student who doesn't have anything."

Bunch said that since tuition increases every year, this additional funding will help offset the cost of attending college.

Timothy Shea, A&S '11, said "Financial aid is definitely a good thing, and although it is never enough to make a private college seem affordable, it helps, and more is always better."

[ Back to Student Voices ]