"Equalizing" scholarship money to students....

What does this mean for you?

In an effort to reduce costs in their budgets, many states are choosing to earmark less money to higher education, and yet still maintain the rhetoric that such education is a high priority.

This week, Missouri is making some changes to its Access Missouri program:

Missouri plans to equalize the amount of scholarship money provided by the state to students with financial need.

Sounds good on the surface, does it not? -- Let all students with financial need receive equal funds. But let's look at what the change actually entails. Currently, the need-based funds -- called Access Missouri -- provide as much as $2,160 a year to students at its state universities.

Students who attend private colleges can receive slightly more than double that amount (up to $4,600 per year). Why? Because the state recognizes the higher cost of private colleges and provides more funds to help compensate for the higher tuition.

Now, in an effort to treat all students equally, the Missouri legislature will change that to provide the lower amount equally to all need-based students, regardless of whether they attend a private or a public institution (beginning in year 2014).

Sounds so very fair on the surface. But the overall effect is simply that the State of Missouri will save thousands of dollars, and those who wish to attend a private school will find it that much more difficult to do so.

Reference: Missouri House endorses equalization of college scholarships, The Kansas City Star

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