Policy Paper(Financial Aid and Affordability of Higher Education) Research Paper

Policy (Financial Aid and Affordability of Higher Education) - Research Paper Example Million students around the world who have desire to learn and gain higher education leave their dreams because of the factor of affordability. As at times they have to face a situation where they have no option but to quit studies because their financial standings does not allow them to pursue their degrees, however in order to ameliorate and come out from this catastrophic situations some students rely on loan and grants that are available for them in the shape of public, private and other sectors. Meanwhile the main reasons behind this affordability issue is because of continuous inflation in tuition fees, and also the poor economic conditions of the country which one way or other is directly or indirectly responsible for increasing the cost of running for institutions. As a consequence families, students, taxpayers, lawmakers (and institutions itself) all are affected. Since many American understands the value of degree (higher education) and the possible fruits and outcomes that are likely to come if one is successful in attaining or achieving the degree, or in other words they have clear understandings that higher education is prerequisite for employment these days and is necessary in so many different regards (AASCU, 2011). However in pursuing the degree often students at times have to face a situation where they have to leave or quit a degree because of affordability, some go for financial aid in order to come out from this situation as they believe this is a solution, while others are lost in translation and this financial aid systems and procedures turns out to be a nightmare for them. Moreover Heller & Marin (2002) highlighted very important phenomenon in this regard, they believe that since financial aid is awarded considering merit, competence and ability rather than considering need therefore, majority of students who are not very much blessed with extra ordinary talent or they have some lacking in terms of potential are persistently avoided. As a result their dreams and desires of going into a college is completely wiped off because they cannot afford tuition fees and are not able to acquire financial aid because of merit (Heller & Marin, 2002). Meanwhile this paper is an attempt to explore and highlight the issues and concerns related to affordability factor in order to achieve higher education, furthermore possible remedies and solutions will also be engrave in this paper pertaining the context of ambiance of higher education. Moreover American Association of States Colleges and Universities (AASCU) public policy agenda will also be explored in this paper as this has mainly to deal with ensuring the goals of higher education are met in perpetuity. Similarly role of Federal government and AASCU in terms of ensuring higher education considering the affordability factor will also be scrutinized and the role of Ohio State (Ohio Board of Regents) in making ways and successfully achieving goals and initiating new plans in this regard will also be the part of this paper. HISTORY: Initially higher education institutions in the United States were only focusing on providing services to elites and to those who were willing to join the Christian religious groups (clergy) (Thelin, 2004). However this perception of people has undergone a change because of the continuous evolution in purpose of higher educat