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"Philosophy of Education"

2014 year, number 3

An experience of the higher education institutions of the USA: financial aid for the students through the grant and loan programs

V. G. Shishikin
Novosibirsk State Technical University, Pr. Karla Marksa, 20, Novosibirsk, Russia
Keywords: USA, higher education, higher education institutions, grants, loans, Federal center, States

Abstract

In the article there is studied the specifics of modern programs of financial aid for the students in the higher education institutions of the USA. The system of the market relations, which is the basis of development of higher education of the United States of America, the participation in its activity of authorities of different levels, as well as individuals and companies are important components for the formation of a variety of programs of financial aid for the students. The author distinguishes the most important sources of support for students, where the leading role belongs to the federal authorities, which carry out interaction with the governments of the states, individual educational institutions, persons and organizations. This cooperation has a complex and multichannel character and helps to create flexible procedures for providing the students with financial support in the form of grants and loans. The constant increase of the volume of financial support and variety of forms of material assistance allow students and their parents to choose the most active aid programs, among which an important role is played by «Pell Grants and «Supplemental Educational Opportunity Grants. These funds are given on the gratuitous basis, but they insufficient to compensate the current costs of training which annually grow. The programs of granting this aid serve as a base of financial support for the students from poor families, and also specialized groups of students of the American higher education institutions, for example, those who study mathematics and sciences, or the students from ethnic minorities of the country or physically disabled students. The programs of loans are provided not only by the budgetary but also the non-budgetary sources due to cooperation of the authorities and higher education institutions with the third-party organizations which are interested in the development of communications with the higher education. The volumes of financial support of granting «Federal Family Education Loans, «William D. Ford Federal Direct Student Loans, «Perkins Loans and «Plus Loans surpass the programs of grants, while providing the students with a possibility of compensation for expenses not only on learning, but also on accompanying needs. The federal government, without interfering directly with the relationship of borrowers and creditors, plays a role of arbitrator and guarantor of parties fulfilling the assumed obligations. The main distinctive feature of the programs of student loans is their repayment by the borrower on an interest rate below the market one. Delegating of the part of powers from the government to the private organizations fixes market and the democratic character of the system of financial assistance and provides its stability. The main objective is the increase of availability of the higher education in the USA and development of its egalitarian character.