Diverse Conversations: Affordability Key to Higher Ed Access

Talking about the need to make a college-level education more accessible is common. Everyone understands that a college education is valuable and that many jobs list a degree as a requirement for applying, so those without a college degree are missing out on significant opportunities in the future. So, what does it actually take to make higher education accessible to a larger portion of the population? Affordability.

Understanding affordability

There are numerous programs designed to help students pay for college. Some options, like grants and scholarships, allow students to access funds that do not need to be repaid under most circumstances. But these funds don’t actually make the college experience more affordable, just cheaper. And student loans don’t improve affordability and only delay the need to meet the payment requirements (with interest).

If something is affordable, it is considered within one’s financial means. And for many, the cost of tuition today just isn’t affordable.

Affordability of applying

For many low-income students applying to college, a surprising barrier is the fees associated with the application process. For example, SAT, ACT, and AP exam fees can be substantial. Then, once suitable scores are earned, an additional fee is required for every educational institution to which they apply.

While many of these fees are waived for those meeting certain income-based criteria, the income requirements are often quite strict. Students whose families are slightly above the cutoff will find these costs challenging. That can mean that low-income households may only be able to afford for the student to take one exam, a single time. Additionally, they will be limited to the number of colleges to which they can apply based solely on financial barriers.