More Students Are Seeking Financial Aid

16% jump in requests for tuition help as economy slumps

By Sam Biddle, Newser Staff

Posted Aug 11, 2008 12:10 PM CDT

(Newser) – A soaring number of students are requesting financial aid as a result of the country’s economic downturn, the San Francisco Chronicle reports. Some 8.9 million students filed for federal aid in the first half of this year—up 16.3% from last year. Many public universities are struggling to keep up with the increase, in turn forcing more students to look to loans.

"What we are seeing is more people filling out requests for financial aid, and for those who do, more people are qualifying and the aggregate need is increasing," says one college finance officer. "We are seeing students whose parents in the past have been able to get money from equity lines. Those sources are drying up, and the cost of living and tuition has gone up,” adds another.

An increasing number of students are requesting financial aid, putting a strain on public university systems. (AP Photo)

An increasing number of students are requesting financial aid, putting a strain on public universities. (AP Photo/Ryan Moore)

An increasing number of students are requesting financial aid, putting a strain on public universities. (Getty Images)

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14-Year-Old Ready to Graduate UCLA

Moshe Kai Cavalin: All it takes is hard work

Students Revolt Against Big Bank Recruiting

Protests spread across Ivy League campuses

Today's College Freshmen Study Harder

... If their high school habits are any guide

A 7-Step Guide to Ruining Your Life

First, make sure you develop no marketable skills: Walter Russell Mead

Top Colleges Steer Grads Away from Wall Street

Students, staff encourage grads to expand horizons

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Newser By Users

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