Final answer:
It is true that the Office of Federal Student Aid and educational institutions annually collaborate to assist students with financial needs. The Higher Education Act of 1965 aimed to provide educational opportunities and establish eligibility criteria for receiving aid. Federal financial aid supports a large proportion of college students, with a focus on increasing aid and easing loan debt in recent years.
Step-by-step explanation:
It is true that every year, the Office of Federal Student Aid and various educational institutions work together to help needy students pursue education. Students are encouraged to fill out the FAFSA® Form to apply for federal grants, work-study, and loans. Colleges use FAFSA data to determine a student's eligibility for federal aid and also to award their own aid. The Higher Education Act of 1965 was created to provide educational opportunities for millions of Americans with the intent to build the nation's human capital. Eligibility for federal financial aid is judged based on income, attendance status (full-time or part-time), and the cost of the educational institution. In the 2011-2012 academic year, a significant percentage of full-time college students received federal financial aid in the form of grants or student loans, which illustrates the importance and impact of such aid. The national government also allocates resources for job-retraining programs and elementary and secondary education programs, aiming to provide educational support at various levels. Scholarships and other financial support mechanisms are also part of the national strategy to ensure that students can afford higher education amidst rising tuition fees and other costs. In recent years, the government has focused on increasing student aid and taking steps to ease student loan debt.