By Ken Daly
President, St. Thomas Aquinas College
Every fall, students across the country can begin the process of applying for financial aid through the Free Application for Federal Student Aid (FAFSA). Completion of the FAFSA is critical in determining both federal and state financial aid. However, far too many students are not fully aware of how this process impacts their ability to afford an education at an institution of higher education. At St. Thomas Aquinas College (STAC) – where I have been fortunate to serve as the new President since July 2020 – we have prioritized “Access to an Affordable” education as a key pillar of our strategic vision. This will help ensure every student has an opportunity to receive an education and achieve their full potential. Fueled by this strategic priority, STAC has provided innovative new scholarship and emergency grant programs – including providing every student with a 4-year $50,000 scholarship – to ensure that our students continue their education uninterrupted by the challenges of the COVID-19 pandemic.
The financial challenges many of our students face are not unique. Students across the country are in critical need of additional grant aid to achieve their dreams of pursuing a college education. A key financial aid tool, the Pell Grant, has helped students with demonstrated financial need pay their college costs since the early 1970s. As opposed to so many other well-intentioned financial aid initiatives, the Pell Grant is a “first dollar” program, going directly to student accounts with direct tuition support. This program has truly changed the lives of many students, including students at STAC, where nearly 40% of our most recent first-year students were Pell-eligible.
While the Pell Grant program continues nearly a half century later, the purchasing power of this grant for students has significantly diminished. Since 2009-10, annual spending on the Pell Grant Program has decreased from a peak of nearly $36 billion in 2010-11 to just over $28 billion in 2019-20, while the number of students nationwide receiving Pell Grants has increased to more than 7 million according to the National College Attainment Network. One of those students on our campus is Franki Carr, a senior who will be graduating in May 2022 with a Bachelor of Science in Education.
A student leader on our Social Justice and Equity (SJE) Forum, she has thrived at STAC due to her determination and drive, an opportunity made possible through the receipt of this critical financial aid. Ms. Carr notes, “Receiving the Pell Grant has opened the door for me to receive a wonderful education at St. Thomas Aquinas College. STAC was the best fit for me, being that it was my first choice. Coming from a single-family home, with a mother that had to provide for twin girls, my sister and I were both graduating high school together and dreamed of going to college. I knew I would need financial assistance to pay for college, since paying for prom was a struggle. This grant allowed me to fulfill my dream of obtaining a degree, which I am very thankful for. I would not be where I am today without this financial support, and I now look forward to teaching the next generation of students.”
Throughout the month of February, the higher education community celebrates Financial Aid Awareness Month in an effort to provide crucial information to students and families about access to federal, state, and institutional student aid. With this in mind, I join many of my colleagues across the country to implore them to “Double the Pell Grant” from $6495 to $12,990. This bipartisan program has proven to help keep low-income students in college and on track to graduation. Pell Grants help students in all states and territories, whether urban, rural or in between. Students of all backgrounds receive Pell Grants – students like Franki and so many others – who will not only benefit from doubling the Pell Grant, but will thrive in the future with this critical financial support and help educate the next generation of students.
Kenneth D. Daly is the ninth President at St. Thomas Aquinas College. Since Daly’s onboarding, he has committed to helping students navigate current societal challenges by providing access to affordable education to prepare them for College, community service, and careers.
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