Summarize the role of the federal government in supporting higher education.

Also,
explain how federal financial support for higher education is justified or needed.

The role that the federal government plays in financing higher education is broad and essential
to ensure that a wide variety of students have access to education at a price that is within their
means. One of the most important ways in which this assistance is provided is through the Pell
Grant program, which offers financial assistance to students from families with low incomes so
that they can attend postsecondary institutions that are qualified to receive it. This program is
designed to help individuals overcome the financial obstacles that frequently prevent them from
seeking higher education. The necessity of leveling the playing field and producing chances for
study on an equal footing provides the foundation for the argument in favor of continued
monetary investment by the federal government in higher education. It acknowledges that a
large number of talented people, particularly those who come from economically disadvantaged
families, would be unable to pursue higher education if they did not get this help (Curs et al.,
2007) . Additionally, it recognizes the wider societal benefits of an educated populace, such as
economic growth, innovation, and a citizenry that is more informed.

Describe major issues in federal student financial aid and alternatives provided in the
assigned materials.

The readings for the assignment shed light on several major topics that pertain to federal
financial aid for students. There is a significant disparity between the typical loan payback length
of 10 years and the actual amount of time it takes many students to pay off their loans in full.
This disparity is cause for significant concern. This casts doubt on the widely held belief that the
vast majority of students are able to repay their loans within the allotted time frame. In addition,
the materials emphasize that student loan defaults occur beyond the initial years after
graduation. This runs counter to the widespread notion that the majority of defaults occur soon
after finishing college, which is supported by the fact that this information is highlighted in the
materials. In light of this, it is clear that there is a pressing requirement for a more sophisticated
comprehension of the process of repaying student loans. A different strategy that could be taken
to solve these problems would involve customizing support for students based on the particulars
of their situations, such as by providing adjustable repayment plans that are proportional to their
levels of income. In addition, it underlines the essential role that completing a degree plays in
successfully repaying student loans, highlighting the necessity for measures that support
students in completing their degrees (Heller, n.d.).

Share one new thing you learned about how the federal government funds higher
education or federal student financial aid.

One enlightening aspect gleaned from the assigned materials is the revelation that the level of
student debt does not directly correlate with the likelihood of default. This challenges the
prevailing notion that higher levels of debt invariably lead to higher default rates. Instead, the
completion of a degree, and the type of degree earned, emerge as more influential factors in
loan repayment (Marginson, n.d.). For example, even if they have a greater total amount of
debt, those who get bachelor's degrees have a lower rate of defaulting on their loans as
compared to people who hold certificates but have lower total amounts of debt. This detailed
understanding highlights the complexity of the relationship between student debt and successful
loan repayment, indicating that policy considerations should extend beyond simply looking at
debt levels alone.
Reference:

Curs, B. R., Singell, L. D., & Waddell, G. R. (2007). The Pell Program at Thirty Years. In J. C.

Smart (Ed.), Higher Education: Handbook of Theory and Research (Vol. 22, pp. 281–

334). Springer Netherlands. https://doi.org/10.1007/978-1-4020-5666-6_6

Heller, D. E. (n.d.). Does Federal Financial Aid Drive Up College Prices?

Marginson, S. (n.d.). Higher education and public good.