US Higher Education System Financing
Finding the right college can be a difficult task. Many people do not always understand that there is a lot they need to look into before deciding on a college. The first thing that you want to check is if they are accredited. While some might say check the differences between colleges and universities, for the most part that may not be a top priority.
If you are not exactly in the best financial situation, the dependence of federal financial aid is almost natural. You want to be sure that the college you are going to receives federal aid. I know you are thinking, “Are there any colleges that do not receive federal aid?” US colleges that do not receive federal financial aid do exist. In fact, there are many colleges in the United States that do not receive financial aid. You might find a college boasting about its financial aid package, but that is not the same as federal student aid. While you may be thinking, “Financial aid is financial aid,” there are reasons why you should be wary.
Colleges that do not receive federal financial aid generally lack something that is very important, and that something is accreditation. According to the United States Department of Education, the goal of accreditation is to ensure that the education provided by institutions of higher learning meets acceptable levels of quality. Now, I know it might seem like the business college in the strip mall by your job is a good idea, but it’s not. Here’s why.
Without the proper accreditation, they do not have to work at the same standard as a college like Purdue, for example. While older students often find these schools more convenient, they can run into a problem finding a job. Furthermore, a college that does not receive financial aid from the federal government can have their own loan packages. Many of these loan packages tend to be higher amounted and come with a very high interest rate.
Another problem encountered is that since the school does not necessarily have to answer to the government, they tend to be more expensive while providing lesser quality. Many employers do not even look at diplomas or degrees from schools that do not have proper accreditation, because in essence anyone can get a degree there. Many of these colleges tend to be for-profit, which basically means they opened with the purpose of making money.
One last reason to avoid these schools is that since the government does not have a hand on their back, they do not necessarily have to help the student. Also, like with any business, they can close without notice.
Recently there has been a crack down on for-profit schools. One of the biggest reasons is that the schools do not have to fulfill promises to the student, making them susceptible to fraud. Another reason for the crackdown is the high cost and high interest loan programs.
So, when looking at the question, “Are there any colleges that do not receive federal aid,” US colleges like this do exist. If you do not want to be taken for your money, avoid schools that do not receive financial aid from the federal government.
Sources
A College vs. University: What is the Difference Between a College and a University?
https://www.brighthub.com/education/college/articles/67326.aspx#ixzz12sYXWCqx
Free Application for Federal Student Aid
Probe finds fraud, deception at for-profit colleges
https://www.usatoday.com/news/education/2010-08-04-ForprofitONLINE04_ST_N.htm
For-Profit Colleges Mislead Students, Report Finds
https://www.nytimes.com/2010/08/04/education/04education.html
Accreditation in the United States
https://www2.ed.gov/admins/finaid/accred/accreditation.html#Overview
