Colleges are failing the students who need the most help. The economic support available for ordinary students — whether through scholarships, Pell Grants or the federal work-study program — has failed to keep up with the growing cost of tuition and basic expenses like food and housing.
But all is not lost. If federal lawmakers and university administrators can make targeted changes to our financial aid system, the epidemic of financial insecurity on campus might be alleviated.
First, they must grapple with the severity of the problem. Financial strain is especially acute for low-income students, who often don't have access to generational wealth, and who can only access a set of packages that fall well short of the full cost of tuition. A 2019 survey found that 17% of community college students experienced homelessness during the year, 46% experienced housing insecurity and 39% suffered food insecurity.
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