Join Date: Feb 2012
Location: The land of Enchantment
• Horses: 0
I had a scholarship, it paid for tuition only. Back then, car, room and board, etc,. was easy for most any parent to cover...or even a student w a part time job. This is hardly the case today. Nearly all universities upgraded dorms to more "apartment like" quarters when times were a plenty, and now there are few jobs. The result is expensive room and board and no means to pay for it other than via loan or parents..or - scholarship offset. In fact, other than in my state, most university's room and board costs is 10-13 k.
So, a lower income family would pay for just room and board...how? Yes, their kid could just run out and get a loan. No problem, they do it all the time. That is why you hear kids complaining b/c they have 150K or more in student loan debt. They must not have been eligible for any scholarships or grants...so they were penalized - BIG TIME.
There is just as much horse sense as ever, but the horses have most of it.