As a community college financial aid administrator, I have
been in favor of institutional ability to limit Direct Loan amounts. Viewing limiting loans from a purely
institutional perspective, I see having this ability as a positive both for
students by helping them keep from amassing student loan debt and for institutions
that recognize that certain programs or enrollment levels may not require full
loan amounts for enrollment and completion purposes. I still think limiting loan amounts makes
senses from the institutional perspective, but after attending a couple of
sessions at the 2016 NASFAA Annual Conference and reading current research
regarding student loans and college access and success, I am not so sure that
limiting loan amounts makes sense for students.
In many cases, limiting loan amounts may make the difference
for a student choosing to purchase or not to purchase textbooks and supplies,
being able to cut back on hours at work to devote more hours to classes and
study, being able to afford the extra child care a parent might need while in
school, covering unexpected expenses that crop up over the course of a
semester, etc. The list goes on and on,
and each of these examples may have a negative impact on a student’s success
and ultimate goal of completion.
At this point, I am undecided about where I stand on this
important issue. So, why bring it
up? I bring it up because to me it
illustrates the importance of what our associations do. We have a voice in Washington, DC, and
members of Congress and their staffs listen to us and value what we have to
say. Further, our associations bring us
together so that we may share ideas and opinions. Nowhere is this more evident than at our
annual state, regional, and national conferences and workshops. As we share ideas and listen to each other
when we come together for conferences and workshops, we learn new things and
hear different perspectives. Participation
in our state, regional, and national associations helps us grow
professionally.
Submitted by: Chad SartiniVASFAA President
Coordinator of Financial Aid, Veterans’ Affairs, and
Records
2 comments:
Good post Chad. It is a tricky situation, however, as it is with most things when dealing with the feds, the local folks or in this case the schools themselves know their students far better than the bureaucrats in DC. So, with that in mind, it certainly makes sense to me to let the schools do what we do best, which is meet our students' needs on an individual basis. For me it makes little difference because I am at a higher cost private school and out students need their full loan amount, but in the grand scheme of things, I can see how just having the flexibility to do so for lower cost schools could make a big difference.
Lane Smith
Samford University
Birmingham, Alabama
Good perspective, Chad. Thanks for the "food for thought".
Karen Hauser
Vanderbilt University
Nashville, TN
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