Ep. 41 Why Millennials Can’t Get State Financial Aid

Millennials and State Financial Aid

Millennials and State Financial Aid

This episode of the podcast is a discussion around an article that I came across that discussed the problem that millennials are finding themselves in the middle of. They are systematically being shut out of state financial aid.  The article, “The financial aid policy that shuts out millions of students” is taken from the Hechinger Report.

Millennials is the fastest growing segment of our population that range in age from 18-34 years old. They are also the bulk of those attending colleges and universities around this country.  The problem is that if you decide to defer, delay, post-pone going to college, your changes of qualifying for state financial aid diminish drastically each year that you wait.  There can be many valid reasons millennials are not going to college immediately after high school such as traveling, needing to work and earn money to pay for their education, they start a family and need to take care of an infant, they need to work and take care of an elderly parent etc…

There are many states such as Michigan (mentioned in the article) that are penalizing millennials by having a restriction that says that if you apply for state tuition assistance and it has been more that 10 years from high school graduation, you don’t qualify.

Links mention in this podcast:

Hechinger Report

PA Higher Education Assistance Authority – State Grant Programs

NJ Higher Education Student Assistance Authority

Gov. Christie’s Proposed Cuts to Educational Opportunity Fund

College Money MasterClass

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Scholarship Spotlight – (NJ RESIDENTS) Survivor Tuition Benefits: Eligible children and surviving spouses of New Jersey Firefighter, emergency service workers and law enforcement officers who were killed in the line of duty may enroll free of tuition charges at any public institution of higher education.

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