USC expands financial aid program, benefitting low and middle-income families

By Sam Bell

Opinion Editor

The University of Southern California recently announced that it will be offering free tuition to students of families who earn an annual income of $80,000 or less per year. One part of this policy includes exempting whether or not the family owns a home in the calculation used to determine a student’s financial need. This change in policy will benefit students across the nation who can now have the chance for higher education despite their economic background. 

Along with USC, other universities in California such as the University of California, Los Angeles and Berkeley, offer financial assistance programs that grant free tuition to low and middle-income families through the Blue and Gold Opportunity Plan as well. This plan will cover the tuition and fees for students who qualify using scholarships or grant money. It can even offer more financial need for educational expenses, such as books and housing, for students in need, according to a Feb. 20. USC press release.

This expansion in the university’s financial aid program will be implemented and applicable for first-year students entering classes in the fall of 2020 and spring of 2021. Part of this expansion includes increasing undergraduate aid by more than $30 million each year, according to the press release on the USC undergraduate admission website. This plan, once fully integrated, is estimated to aid over 4,000 students, and the school’s overall financial assistance will help approximately one-third of the incoming class in the fall of 2020.

Each year, USC gives $640 million to undergraduate students in awards for tuition and expenses from multiple sources, $375 million of which comes from grants and scholarships that USC gives to students. 

The university has been growing its need-based funding program by 60% since 2010, which has surpassed the rate in which the tuition increases, according to the press release. Two-thirds of the students attending USC are receiving financial assistance, with 21% of the student population coming from lower-income families, according to the press release. 

It is necessary for each university to increase its tuition annually. Although this puts a tremendous strain on families that face financial struggles, the USC Board of Trustees increased its annual tuition for the 2019-20 school year by a limited 3.5%, remaining conscious of the  low-income families as it has been for the past decade, according to the press release.  

In order to allot equal opportunity, USC exercises a “need-blind” admission practice to ensure that the students that are being considered for admission meet the prerequisites despite its economic background. 

Although the value of this financial aid measures differently in ranks of importance to all families, there are families in situations that classify these aid packages as a necessity in order to even consider college as an option. These students are unfortunately weighed down with the burden of college expenses when considering their future and life after high school.

This policy change will eliminate the rising costs of college education as a barrier for the students who meet the requirements to be offered admission. Families and students who are in more need of financial aid will especially benefit from this package as it considers families across a broader income spectrum, according to the press release. 

Diversity on campus will greatly increase after this new policy change as it opens the doors for more students. The wider range of students who have the opportunity to attend will help grow and develop the diversity. It is important that all universities implement policies that give equal opportunity to receive a college education as other students who are not as fortunate.

As far as USC’s alterations in its financial aid policies to benefit low-income families go, the university does not plan on capping the expansion there. By continuing to develop the program and allocating money to extend the financial aid spectrum. the financial, geographical, and cultural diversity will also progress and offer higher education to a wider range of students.