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What are the limitations of student funding in the United States if I’m from a low-income family and need to get into a very expensive school?

I’m currently about to start college and have already gotten offers from several schools that I was looking forward to. However, also applied for scholarships from those and other institutions and I have yet to receive any offers back. Can anyone tell me about American student credit and credit for students with no credit and who is eligible for it? I’ve heard about thousands of students who have left college overburdened with student debt.

Dana Keller

in Student Loans

1 answer

1 answer

Blair Lewis on February 5, 2018

Funding for students is a controversial issue. On the international scene, it looks really good with American universities being hyped as some of the best institutions in the world. If you go in depth however, you find a myriad of problems that bedevil the supposed funding system in the US. The government, through many different agencies contributes toward funding for select groups of students or those that have surpassed a certain level of challenge. How do you think the endowment for an institution like Harvard is well over 40 billion dollars? You also have private individuals contributing a tidy sum to some of these institutions as lobbyists. In the meantime, students are leaving school with billions of dollars in debt. Student credit in America is a controversial issue especially because it seems like some of the most well-known credit programs for students completely overwhelm students.

A lot of millennials have put their parents through the same student debt that generation Z now faces itself. Parents took thousands of dollars in loans for their children and then made that out from their pensionable incomes, which left them at a worse position than they had been 20 or 30 years before. You want to know who gets credit for students with zero credit? Well, there are institutions that offer credit cards that you can use to pay for select items categorized as student items. There are also items that are exempt from certain levies and taxes which makes them much cheaper than others items. Either way, it doesn’t make much difference to the millions of students who are still left with no option other than taking thousands of dollars from the American government through debt foundations in most of our most prominent institutions. Most students imagine taking a total debt of 165,000 dollars that you have to pay as deductibles immediately you have started working. I hate to make it sound bleak for you but I would advise that if you have any special talents that you have, say sports, academic, extracurricular or otherwise, start looking these up and use them to get into a scholarship program that lets you learn debt free or with the least debt. Debt is terrible especially in this day and age where it is so easy to be rendered jobless or downsized. Finally, good luck on your applications and I’m sure you’ll get it.

Eric Bates2 years ago

Certain institutions offer need-based scholarships and other special types of scholarships that leave you without much student debt at the end of your stint at the college. With over a trillion dollars owed in student debt, it almost looks like a giant bank shadowing over people’s heads. American student credit doesn’t work particularly great for the greatest percentile of students, which is why over 37 million owe student loans. You should look into special types of scholarships for students at those institutions you have applied to. There are athletic scholarships, creative scholarships, academic scholarships, you name it. If you think you can apply to one of those, do it. Maybe you were on your school’s honor roll. A scholarship will certainly reduce your need for student funding which will weigh you down in the long run. The job market in the future is quite uncertain and there is much burden.

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