California Fact Sheet Simplifying Federal Student Aid: Grants, Loans, & Repayment Plans

Abstract

The need for a college education has never been greater. Degrees at all levels, from vocational certificates to Master’s degrees, allow individuals to enjoy greater economic and social success. In fact, individuals with a bachelor’s degree will earn over $1.3 million more over their lifetimes than someone with only a high school diploma. For first-generation, low income and minority students, access to college opportunity yields a pathway to increased economic stability and prosperity for future generations. In this context, this fact sheet shows the main problems and challenges of federal student aid.