Word: self-help
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...believing that it represents the sublime. Asceticism, which worked similar magic on medieval monks and more recently on Jerry Brown, just isn't fun. Reagan's inauguration. Chivas Regal ads, and books like Kahn's provide many examples of people flaunting their money Extravagance promises a ready way to self-help, to rising above the crowd. Extremism in the pursuit of riches is no vice. We link it first to priceless human virtues, like individual drive and creativity, and only later on waste and self-indulgence. Jock Whitney's insistence on thinner wine-glasses may be only frivolous arrogance...
This fiscal year the Federal Government is handing out $11 billion in aid to some 7 million U.S. students through a patchwork of programs: Pell Grants and Supplemental Educational Opportunity Grants (SEOG) to the very poor, low-cost National Direct Student Loans (NDSL) and the self-help College Work-Study plan. The largest program is Guaranteed Student Loans (GSL), which provides $7.7 billion to 3.5 million students (52% more than last year's number), many from families earning much more than $30,000 a year. Under Reagan's proposed budget, GSLs would require a far stricter determination...
...appreciate the complexities of the situation the admissions office faces, and agree that guaranteed financial aid "to need" is not the only cornerstone of education here. Livable Houses and classrooms, good faculty, and the assurance that students do not stagger under excessive self-help aid--unreasonable amounts of work study, for example--are all crucial. But with the federal government jumping ship, financial aid has only the College to depend on. Over and above its educational importance, which the College clearly realizes, its very vulnerability should give it an imperious claim...
Your reporter has bunched a variety of different financial aid issues together but I think his main focus in on earnings ceilings. Students receiving financial aid have a calculated of job plus loan (self-help) and grant. Federal regulations prohibit students from receiving financial aid funds in excess of their need...
Each student has an earnings ceiling which is established by subtracting what the student borrows from his self-help; the difference is the amount the student needs to earn. If a student feels that he needs to work and borrow for more than his self-help he must talk with his financial aid officer in order to establish the reason for the additional need...