Much of the debate about encouraging college completion has focused on academic requirements, advising or the curriculum. Many experts commonly say that completion rates are about much more than money. But a study released here Thursday at the annual meeting of the American Educational Research Association suggests that money, and different kinds of money, matter a lot in the graduation of low-income students.
Specifically, the research found a direct positive relationship between government help as well as the graduation rates of low-income students from four-year colleges. Along with the study found a negative relationship between obtaining unsubsidized student loans and graduation prices.
Ray Franke, the writer, is an assistant professor of teaching in the College of Massachusetts at Boston, and he employed two databases in the National Center for Education Statistics to monitor low income pupils, also to command for assorted expertises.
Among his findings:For every $1,000 in additional aid received, federal grants increase the chances of a low-income student graduating within six years by 2.42 percent to 2.82 percent. State need-based aid has a similar impact, with each $1,000 increasing the chances of graduation by 2.4 percent to 2.59 percent. Institutional need-based grants have a similar, but smaller, impact, with each $1,000 increasing graduation odds by 1.31 percent to 1.62 percent. Each additional $1,000 in unsubsidized federal loans, however, makes low-income students 5.66 percent less likely to graduate in six years.
Franke also found that non-need-based assistance does not have a considerable impact in the graduation rates.
In the paper's summary, Franke contends that his findings should be thought about by plan makers. "[F]inancial support effects identified in this research provide additional signs that demand-based grant systems are successful in nurturing low income pupil success, and various plans in the national and state degree count the long-term results in the state's economic system when reducing funds for vital demand-based support systems," Franke writes.
"[T]he large negative effect found for unsubsidized federal loans on degree attainment is important for the discussion on loan programs and interest rates, and provides evidence that rates should be kept low. Given the results in this study, unsubsidized loans seem not only detrimental for low-income students' chances to graduate, they also appear to be inefficient as they counteract positive effects found for need-based grants."
Specifically, the research found a direct positive relationship between government help as well as the graduation rates of low-income students from four-year colleges. Along with the study found a negative relationship between obtaining unsubsidized student loans and graduation prices.
Ray Franke, the writer, is an assistant professor of teaching in the College of Massachusetts at Boston, and he employed two databases in the National Center for Education Statistics to monitor low income pupils, also to command for assorted expertises.
Among his findings:For every $1,000 in additional aid received, federal grants increase the chances of a low-income student graduating within six years by 2.42 percent to 2.82 percent. State need-based aid has a similar impact, with each $1,000 increasing the chances of graduation by 2.4 percent to 2.59 percent. Institutional need-based grants have a similar, but smaller, impact, with each $1,000 increasing graduation odds by 1.31 percent to 1.62 percent. Each additional $1,000 in unsubsidized federal loans, however, makes low-income students 5.66 percent less likely to graduate in six years.
Franke also found that non-need-based assistance does not have a considerable impact in the graduation rates.
In the paper's summary, Franke contends that his findings should be thought about by plan makers. "[F]inancial support effects identified in this research provide additional signs that demand-based grant systems are successful in nurturing low income pupil success, and various plans in the national and state degree count the long-term results in the state's economic system when reducing funds for vital demand-based support systems," Franke writes.
"[T]he large negative effect found for unsubsidized federal loans on degree attainment is important for the discussion on loan programs and interest rates, and provides evidence that rates should be kept low. Given the results in this study, unsubsidized loans seem not only detrimental for low-income students' chances to graduate, they also appear to be inefficient as they counteract positive effects found for need-based grants."
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Reducing the a student loan repayment if you qualify for student loan forgiveness could be as fundamental as student loan consolidation or reaging your department of education accounts
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