Report: The share of Massachusetts students who take out loans to pay for public higher education has exploded in the past two decades while the combined pressure of inflation and a lack of investment have hamstrung the impact of state-funded financial aid
The share of Massachusetts students who take out loans to pay for public higher education has exploded in the past two decades while the combined pressure of inflation and a lack of investment have hamstrung the impact of state-funded financial aid, according to a new report.
"State financial aid per student has steadily declined in the last two decades, eroding the purchasing power of state grants and scholarships," Bahar Akman Imboden, the report's author and managing director of the institute, wrote."The total state aid students receive covers only a fraction of the cost to attend college."
"For Massachusetts to truly reach its key educational priorities, the student financial aid system needs to see continued, significant investment that addresses growing financial unmet need and helps simplify the path for students so that getting a credential or degree from the state's public higher education system is more accessible and attainable," Imboden wrote.
Massachusetts lawmakers in recent years have targeted public K-12 education for an injection of funding through a multi-year law often referred to as the Student Opportunity Act. Higher education advocates haveon securing similarly substantial reforms for colleges and universities here, and so have advocates for early education and child care programs.
Imboden did not make direct reference to the surtax in her report, though she recommended policymakers identify a"reliable, dedicated source" of funding to remove"uncertainty around just how much a student is expected to pay over the course of their higher education career."
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