Pell Grants
Advantages
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This addresses the financial hardship reason of why students dropout
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Gives money to every eligible student
Disadvantages
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Very expensive; cost taxpayers 31.4 billion in 2015
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Still doesn't work; 39% of the 1.7 million students who received the Pell Grants still didn’t graduate within 6 years.
Federal Supplemental Educational Opportunity Grant
Stafford Loans
Advantages
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Gives money to students in need of aid and haven’t done their bachelor degree yet.
Advantages
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This gives much more money than other policies
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Ranges from ($7,000 to $30,000)
Disadvantages
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Only the students in need of the most can get the money.
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Not all schools are in compliance so not all students can get money
Disadvantages
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People have a hard time paying back student loans
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According to TIME, about 8 million people gave up on paying back 137 billion in debt in 2016
~These are the most common kind of student loans, where the student receives larger sums of money, but has to pay back the money later on.
~These grants give money to student in need of financial aid and are unable to pay for their tuition.
~These grants give money to student in need of financial aid and are unable to pay for their tuition.
~These grants give money to student in need of financial aid and are unable to pay for their tuition.