Beauty Link - Volume 1, Issue 2 - (Page 12)

Q | the workings of wa shington | R THE PELL PREDICAMENT To m Ne tt ing , Co n s ult a nt, Ak e r m a n Se nte r f itt, L LC (w i t h c o n s i d e ra b l e re s e a rch a n d e d i t o r i a l c o n t r i b u t i o n s f ro m To m D i G e n n o) S Since its inception in 1965, the fundamental goal of the Higher Education Act has been to provide any student with the desire to gain a postsecondary education with access to federal student fi nancial assistance (grants and loans) necessary to pay for it. The crown jewel of the act is the Federal Pell Grant program that was established “to assist in making available the benefits of postsecondary education to eligible students…in combination with reasonable family and student contribution and supplemented with other grant and loan assistance.” The intent was to ensure that all students, regardless of their socioeconomic status, would be eligible to pursue a postsecondary education. As we all know, over the past 20+ years, the purchasing power of Pell Grants has deteriorated to the point that (even for the most needy students) student loans, not grants, now comprise the lion’s share of all students’ fi nancial aid packages. What once was a 70:30 grant-to-loan ratio has for some time been almost exactly the inverse, and until very recently the imbalance seemed likely to be tilting even more toward greater reliance on loans. OVER THE PAST 20+ YEARS, THE PURCHASING POWER OF PELL GR ANTS HAS DETERIOR ATED TO THE POINT THAT EVEN FOR THE MOST NEEDY STUDENTS STUDENT LOANS, NOT GR ANTS, NOW COMPRISE THE LION’S SHARE OF ALL STUDENTS’ FINANCIAL AID PACK AGES. As a result, even the most needy students have come to rely more on student debt to fund their pursuit of postsecondary education and training, bringing with it a myriad of problems and negative consequences – for students and institutions alike – too numerous to recount and not the focus of this article. Unparalleled Growth Fortunately for students, over the past two years Congress has made a concerted effort to re-establish

Table of Contents for the Digital Edition of Beauty Link - Volume 1, Issue 2

Beauty Link - Volume 1, Issue 2
Message from the AACS President and CEA Chair
The Workings of Washington
The Ergonomics of Cosmetology
Creating the Perfect Brow
Smart Technology
Is Your Web Site Hooking Visitors?
And Then There's Compliance
Voices from the Classroom
Marketing to Male Clientele
Lasers in the Esthetics Industry: Past, Present and Future
Unemployment’s Influence
2009 AACS Select Industry Partners
The Less Common Road
Candid Cameras
Regulatory Issues
CEA Convention
Early Warning Indicators
Beauty Schools 101
Multicultural Corner
Upcoming Events
New Products & Services
People & Places
2009 AACS Spring Management Conference
New School Member Profile
Look Who's Reading
Index to Advertisers

Beauty Link - Volume 1, Issue 2