Improve and Expand Access to Financial Aid

Affordability remains a large concern for learners and families considering postsecondary education options, as some schools raise the sticker price of tuition and fees even while the net price of attendance has been falling.1 During commission listening sessions, learners from lower-income families shared that they not only felt pressure to support themselves and their families in the short term with a job during and after high school but saw obstacles in the way of their further education and future earning potential. 

High school students repeatedly said that they did not feel prepared to make postsecondary decisions because they did not understand the financial implications of different options. Both high school and college learners felt they would have benefited from learning the financial basics of “adulting,” such as opening a bank account, buying a car, and renting an apartment during their educational journeys. Financial education and literacy related to various aspects of education, work, and life after high school are critical components in giving learners more agency in their decisions.