College Financial Aid Reflection

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Through my life there has always been a noticeable trend in which our family is neither middle class, nor upper-middle class, but rather the lower section of the upper-middle class. How does this affect us? When it comes to taxes, or in my case college financial aid, it tends to bite us. We are well enough off that not breaks are given, but not well enough off that we can manage to pay things like college out of pocket and not be tremendously affected financially. When speaking to my father at one point he noted that the amount of college loans he received is the same exact amount that I currently receive some 30 odd years later. With the above data, we automatically can see that this is ridiculous. Freshmen year we both received approximately $5,0000.00. College costs have increased exponentially since the late 1980’s and the growth has been much faster than the economy in which we live. Looking at our data the unemployment rates are fairly close to even across the board (%5.5 vs %5.6, %3.4 vs %3.9, %409 vs %4.9). If you …show more content…
Using the college financial aid example again, when he received his loans it covered a massive part of his education, which was especially important as his family was not that well off. The low CPI in his childhood/ young-adulthood shows that financially he was born into an era of less spending and less income. Whereas for me the CPI is greatly increased (153 vs 31, and that same financial aid amount means almost nothing. Again my family is generally well off. We can purchase most anything we want (that is reasonable) like raisin bran or other brand name cereals rather than just Cheerios. Meat is another difference, my father grew up in a very Germanic family meaning meats were a very important part of meals, and yet they never managed to purchase the best brands or the best

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