Lowest-earning county in every state
Joni Sweet, Madison Troyer, provided by
March 17, 2021
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Lowest-earning county in every state
March 2021 marks one year of the COVID-19 pandemic upending our lives and the economy here in the United States. Pre-pandemic, Americans were doing well financially, with major markers like unemployment, reaching 50-year lows. Post-pandemic, however, things are looking wildly different. During the second quarter of the 2020 fiscal year, our nation’s real GDP fell by a whopping 31.4%, a number that hasn’t been seen since the Great Depression. Additionally, unemployment levels reached 14.5%, also nearing Great Depression highs. And while both of those factors have begun to settle back to normal, thanks to the increased re-opening of our economy, things are still a far cry from the way they were in 2019.
More Covid Suicides Than Covid Deaths In Kids
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Lowest-earning county in every state
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Increase State Financial Aid and Target Students in Need
About 74 percent of the $14.1 billion in grant aid that states awarded for the 2019 academic year was need-based (a slight decrease from the previous year), meaning it went to low-income students who struggle the most to pay for college. The other 26 percent was merit-based, meaning it was awarded to students who meet certain criteria typically measured by high school GPA or college entry exam scores regardless of household income.
Need-based aid is intended to expand access to higher education for low-income students. Financial aid is critical for their access to higher education and graduation. One careful study found that a $1,000 increase in grant aid reduces the likelihood that a student will drop out of college by 9.2 percentage points.