A new brief from the Center for Law and Social Policy (CLASP) finds that nearly three in four students experience unmet need, making this problem around college affordability a nearly “universal phenomenon” among today’s students.
Offering an overview of students’ average unmet need by race, income status and institution type from academic year 2015-16, the brief “When Financial Aid Falls Short” provides several recommendations for policymakers to address unmet need, including investing in public institutions and need-based aid programs, improving calculations in the Free Application for Federal Student Aid (FAFSA) process and modernizing financial aid and economic security policies, among others.
Unmet need is “a problem for most students … but it also really matters who you are,” said Lauren Walizer, author of the brief and a senior policy analyst with CLASP’s Center for Postsecondary and Economic Success.
For instance, Walizer pointed out that Asian American students consistently have the highest dollar amount of need, while Black students are the most likely to have unmet need.
Additional brief findings included:
· The average unmet need for community college students significantly increased 23 percent between 2011-12 ($4,011) and 2015-16 ($4,920).
· Across the board, Asian American students have the greatest amount of unmet need, regardless of the institution they attend;
