Some students are abusing precious financial aid, depriving others in need

[media-credit name=”Rashid Hasirbaf/Staff” align=”alignright” width=”300″][/media-credit]Mini-fridges, strobe lights, plasma televisions and oversized beanbag chairs are de rigueur in college dorms and apartments across the country. Unfortunately, too many of these luxuries were purchased with financial aid money.

Information about student spending of financial aid is anecdotal and self-reported, but what some students fess up to is a little breathtaking.
Invariably students are left with healthy chunks of financial aid change after paying school expenses. Instead of saving extra money, many purchase luxuries they would never think of buying if the money was not “free.” Tax dollars are too often spent on partying, fast food restaurants and other transient pleasures.

A computer for schoolwork or a car for transportation are good purchases, but the ipods, smart phones and the new set of golf clubs are not. Money spent in such a manner borders on fraudulent.

FAFSA, EOPS and other government grants allow hundreds of thousands of students across the country to access higher education without towering debt from student loans.

A 2007-09 study done by the National Center for Education Statistics reported 66 percent of all undergraduates received some type of financial aid. About half was federal and usually ranged between $6,600 and $8,400 per student.

EOPS is a program that supports students with language, social, economic and educational disadvantages. It provides book vouchers for required texts. Leftover funds are supposed to be returned to EOPS to benefit other students. Instead of leaving the funds in their account, some unscrupulous students purchase books for others and receive cash kickbacks.

Some “students” come to school for the sole purpose of receiving financial aid, which is a travesty in any era, but particularly in today’s economic crisis. Too many legit students are being squeezed out of higher education to support freeloaders, some of whom drop out as soon as they get their checks.

It makes sense for our society to support higher education. College-educated people pay more taxes, create more jobs and contribute more to society. Smart, ambitious young people are worth the investment. Let’s just hope that a few knuckleheads don’t mess up financial aid for the good students of America.