User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


57° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Find local businesses
on the KELO Pages!

 

Money Matters: Financial Aid In Tough Times

August 13, 2009, 9:53 PM by Angela Kennecke

Money Matters: Financial Aid In Tough Times
The recession is taking its toll on higher education, both families' ability to pay for it and colleges' ability to keep it affordable.

For those parents who lose their job or are forced to take a pay cut, there may be more financial aid available for their student.

While colleges have faced a squeeze on their budgets in this recession, private institutions such as Augustana know how important offering financial aid is to attract students.

"In financial aid world, I’ve been given a certain budget to use for this year. It isn't a cut from last year's budget. But I have to be careful because there are more seeking financial aid, so you have to spread it further," said Augustana Financial Aid Director Brenda Murtha.

Murtha says many parents are facing job losses or seeing their incomes drop.

"So we are seeing more people filing for federal financial aid than we have and those that are filing seem to be needier," said Murtha

When a family's financial circumstances change, schools can make an adjustment to their financial aid.

"I think now we need to stress to families and even the fed. Government has said to financial aid directors, do your best to help families who are hurting and try to help them as best you can," said Murtha.

The American Opportunity Tax credit should also help more families over the next two years.

"It's especially designed to help in tough economic times. It's a $2500 per student per year tax credit when the family goes to file their taxes... The neat thing about it is it's for all four years where the old one used to just before freshman and sophomores," said Murtha.

Murtha just hopes tough economic times don't result in fewer students obtaining a college education.

"Families need to not throw it all away and say we can't go to college because of the economy. You need to look long term and say, we'll get through this, get through college and college education does pay off in the end and it's a good investment, even in these times," said Murtha.

Budget shortfalls have caused at least a dozen states to reduce the amount of financial aid offered to college students, but South Dakota doesn't have the kind of need-based program other states are cutting.

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

You may also like

Two People Go To Hospital Following Fight

7/28/2014 11:30 AM

Sioux Falls Police say a large fight behind the Best Buy store on 41st Street landed two people in the hospital early Sunday morning.

Full Story
Fmr. Walworth State's Attny. Charged With Rape

7/30/2014 1:27 PM

The former Walworth County State's Attorney has been arrested and charged with three counts of first-degree rape.

Full Story
Clerk Hurt During Attempted Robbery

7/27/2014 8:07 AM

Sioux Falls police are investigating an early morning attempted armed robbery that injured a clerk at a west-side convenience store.

Full Story
Two 16-Year-Olds Arrested In Vandalism Spree

7/25/2014 11:30 AM

According to Sioux Falls Police, two 16-year-olds were arrested overnight after a vandalism spree.

Full Story
Sioux Falls No Longer Best Small City

7/25/2014 11:12 AM

Sioux Falls is no longer the nation's best small city for business and careers.

Full Story


Events