Certain financial aid programs address the unmet financial need that exists after students have exhausted traditional sources such as federal loans, grants, and scholarships. This type of aid assists students in covering the remaining cost of tuition, fees, and living expenses. For instance, a student might receive a Pell Grant and a subsidized loan, but still lack the funds necessary to enroll. An initiative that provides the remaining funds falls into this category.
These funding solutions are vital for promoting accessibility to higher education, especially for students from low-income backgrounds or those facing unexpected financial hardship. Historically, a lack of sufficient resources has prevented many qualified individuals from pursuing college degrees. By providing additional financial support, institutions and organizations enable a more diverse student body and contribute to a more equitable educational landscape.
