Scholarships & Financial Aid Total Financial Aid Fall 2016 - - PowerPoint PPT Presentation

Scholarships & Financial Aid

Total Financial Aid Fall 2016 – Spring 2017

$327.4m

$218.4m UGRD/AGI/NDS $108.9m GRAD/VETM

Types of Financial Aid

• Gift Aid: Grants and

Scholarships

– No repayment – Based on merit and/or need

• Self Help Aid: Loans

and Work

– Must be earned or repaid – Based on merit and/or need 125.6m, 39% 197.2m, 60% 4.4m, 1%

Total Financial Aid 2016-17: $327.4m

Loans Scholarships/Grants Work

Sources of Financial Aid

• Federal

– Pell Grants – SEOG Grants – Student/Parent Loans – Federal Work Study

• Institutional

– Endowment funds/annual gifts – Graduate Fellowships – CITI/academic enhancement funds – Appropriated grants/escheat funds

• State

– UNC Need Based Grant – Lottery Scholarship – Tuition Asst./Remission – Scholarships/loans administered by NC State Education Assistance Authority

• Private

– Clubs, churches, civic groups, businesses and other organizations

137.1m, 42% 122.3m, 37% 39.9m, 12% 28.9m, 9%

Total Financial Aid 2016-17: $327.4m

Federal Institutional State Private

Peer Comparisons

Peer Comparison: Tuition

Source: IPEDS 2016-17

Undergraduate

• $6,407 In-State (2nd Lowest)
• $23,926 Out-of-State (2nd Lowest)

Graduate

• $8,088 In-State (2nd Lowest)
• $22,610 Out-of-State (4th Lowest)

$16,952 $14,880 $14,162 $13,418 $11,408 $11,220 $10,787 $10,160 $9,812 $9,273 $9,208 $9,168 $8,716 $8,315 $7,098 $6,881 $6,872 $6,407 $4,477 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000

In-State Undergraduate

$19,964 $16,764 $16,536 $15,267 $13,452 $12,467 $11,718 $11,560 $11,372 $11,220 $10,770 $10,728 $9,643 $9,628 $9,208 $8,826 $8,474

$8,088

$5,784 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000

In-State Graduate

Peer Comparison: Institutional Scholarships & Grants

Source: IPEDS 2014-15 FT First Time UGRD

$13,630

$9,585 $8,492 $8,188 $8,143 $8,138 $8,081 $7,751

$7,473

$7,186 $6,864 $6,397 $6,321 $6,173 $6,092 $5,900 $5,175 $4,901 $4,847 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000

Average amount of intsitutional grant aid

Average Amount of Institutional Grant Aid

$19,034 $20,553

$22,954

$22,975 $23,002 $23,531 $24,352 $24,394 $24,748 $25,157 $25,350

$25,650

$25,785 $25,837 $29,150 $29,568 $29,933 $33,759 $34,598

$- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 Total price of In-State Students Living on Campus Average Amount of Aid

Average amount of federal student loans awarded Average amount of Pell grant aid awarded Average amount of institutional grant aid awarded Total price for in-state students living on campus

Peer Comparison

Source: IPEDS 2014-15 FT First Time UGRD

Peer Comparison: Average Net Price

Source: IPEDS 2014-15 FT First Time UGRD

$24,992 $18,502 $18,398 $16,841 $16,841 $16,622 $16,060 $15,869 $15,664 $15,591 $14,697 $14,610 $14,601 $13,723 $13,647

$13,575

$12,736 $11,643 $10,785 $- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000

Students paying the in-state or in-district tuition rate Average net price-students awarded grant or scholarship aid 2014-2015

Financial Aid Trends

Expected Family Contribution (EFC) is the indicator derived from the federal financial aid application, the Free Application for Federal Student Aid (FAFSA).

X Y Z

Cost of Expected Family Need Attendance Contribution

(Variable) (Variable) (Constant)

1 2 3 EFC EFC

Financial Need Varies Based on Costs

University 1 University 2 University 3 University 1 University 2 University 3

% of Undergraduates that Apply for Aid and Demonstrate Need

68.2% 68.4% 69.1% 68.6% 69.2% 68.3% 51.9% 52.2% 53.0% 51.9% 49.9% 49.7%

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0%

2011-12 2012-13 2013-14 2014-15 2015-16 2016-17

Aid Applicants Demonstrate Need

% of GRAD/VETM that Apply for Aid and Demonstrate Need

35.8% 35.7% 34.7% 33.5% 31.4% 33.7% 32.9% 32.9% 31.7% 30.2% 27.6% 28.0%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0%

2011-12 2012-13 2013-14 2014-15 2015-16 2016-17

Aid Applicants Demonstrate Need

Average Need and Average Scholarship/Grant and Loan Received by Needy Undergraduates

$14,469 $15,437 $16,092 $15,542 $16,030 $8,672 $8,539 $9,099 $9,194 $9,372 $4,976 $5,257 $5,256 $5,354 $5,531

$0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000

2012-13 2013-14 2014-15 2015-16 2016-17

Average Need Average Schp/Grant Average Loan

Loan Indebtedness

• Graduating seniors with federal debt: 53%
• Avg. federal loan debt for NC State seniors

graduating in 2016-17: $21,669

• NC State’s most recently calculated 3-yr
• fficial cohort default rate is 3.2%

– Rate for NC 4 year publics: 7.9%

UNC System Four-Year Tuition Plan

• Tuition set-aside for need-based aid is capped at 15% of total tuition

revenues.

• If tuition revenue set aside for aid exceeds the cap, the campus may not

set aside additional tuition revenue for need-based aid.

• NC State 2017-18 projected set aside: 15.2%

Considerations

• Impact of UNC GA’s tuition plan.

– Competitiveness with peers – Increased loan debt – Access

• Early FAFSA and Prior-Prior Year– effective for the 2017-18

academic year.

• Federal Perkins Loan eliminated effective for 2018-19 academic

year.

Questions?