Northeastern University

On Friday, June 12, a town-hall policy forum at Northeastern University addressed the historic opportunity that exists to overhaul the nation’s broken federal financial aid system. College administrators, policymakers, students and graduates paying off loans  convened to discuss ways to achieve a simple federal aid system that puts students first and achieves more for every precious dollar spent. The cost of higher education in the New England states has been rising much faster than incomes. The recession is projected to last longer and run deeper in the Bay State than in the nation as a whole. As a result, state aid to students attending both public and private institutions is on the chopping block.

The policy forum occurs as Congress considers President Barack Obama’s higher education budget, which represents some of the most fundamental changes in student aid in decades, making enormous strides in accessibility and affordability.

“For the first time in at least 30 years, the possibilities for meaningful change in student aid are wide open,” said Michael McPherson, president of the Spencer Foundation, co-chair of the Rethinking Student Aid project and opening speaker for the June 12 forum. “Real change is on the table, and the resources and energy seem to be there to make a difference. The current financial crisis ratchets up the sense of urgency for the New England states to strengthen the educational opportunities they provide their citizens. A better-educated population will assure greater economic growth and improve our ability to withstand future crises.

The Rethinking Student Aid study group — an independent team of policy experts, researchers and higher education professionals convened by the College Board — spent two years studying the best ways to develop a federal financial aid system that will help students overcome barriers to college success. The group developed a proposal to achieve simplicity and predictability, and to focus on students most in need of financial help to realize college success. The recommendations are sparking conversations across the country about improving federal student aid policy. To download the full report, visit http://www.collegeboard.com/press/releases/199368.html.

Panelists included:

Michael McPherson President of the Spencer Foundation and co-chair of the study group (opening remarks)

Richard J. Doherty President, Association of Independent Colleges and Universities in Massachusetts (moderator)

M. Seamus Harreys dean, student financial and career services, Northeastern University

Adrian K. Haugabrook vice president for enrollment management and student success, chief diversity officer, Wheelock College

Lucille Jordan president, Nashua Community College

Roshni Michandani junior, Northeastern student

Jill McCusker graduate of Stonehill College