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Annual Update: Spring 2010
Committee on Scholarships, Awards and Student Aid
Professor Charles E. Daye, Chair
February 26, 2010
Scholarships, Awards, and Student Aid Committee
Charge and Composition:
The committee is appointed by the Chancellor. It establishes policy for scholarship and student aid funds, monitors the operations of the Office of Scholarships and Student Aid, and advises the Chancellor on matters regarding scholarships and other forms of student aid.
Committee Membership, 2009-10Name and Department Term(s)
Faculty/Staff/StudentsCharles Daye, Chair (Law) 2003-12Todd Austell (Chemistry) 2001-10Jean DeSaix (Biology) 2001-10Donald Hornstein (Law) 2008-11Jane Danielewicz (English) 2008-11Melissa Exum (Student Affairs) Ex officioSteve Farmer (Admissions) Ex officioShirley Ort (Student Aid) Ex officioKathy Moore (Nursing) 2007-10Dennis Williams (Pharmacy) 2004-10George Lensing (English) 2009-12Fred Clark (Romance Languages) 2009-12Joy Cranshaw (Graduate Student) 2008-10Chris Scanzoni (Undergraduate) 2009-10Charles Sellew (Undergraduate) 2008-10Kira Lumsden (Undergraduate) 2008-10
The role of the Office of Scholarships and Student Aid (OSSA) is to support the instructional mission of the University by . . .
Removing financial barriers for students
Recognizing and rewarding academic
talent, thereby
Furthering mutual goals of “equity” and “excellence”
During 2008-09 the OSSA provided assistance to 15,781 students . . .
Total: 15,871 Students Receiving Aid
. . . And disbursed over $233 million in aid, with the largest share provided by the Federal government . . .
Total: $233.3 (In Millions)
State: $26.1 (11%)
Federal: $121.1 (52%)Institutional &
Private: $86.1 (37%)
Focusing now on undergraduate students, nearly a third received need-based aid in 2008-09 . . .
Total: 17,895 Undergraduate Students
Aided Needy Students 5,817 (32%)
Non-Aided Students 7,259
(41%)
Aided Non-Needy Students 4,819
(27%)
. . . The proportion of undergraduate students demonstrating need has been fairly constant over time (but will have increased in 2009-10) when final data are available) . . .
Year
Need Based Aid Recipients
n %
1999-2000 4,155 27%
2004-2005 5,563 34%
2008-2009 5,817 32%
The typical financial aid package for an undergraduate student receiving need-based aid in 2008-09 is by all standards quite generous . . .
Loans (27%)
Work-Study
(3%)
Grants & Scholarships (70%)
. . . The share of a student’s need being met through grants and scholarships increased significantly over the last decade . . .
Trends in Type of Aid Distributed to Undergraduate Students With Need
YearGrants &
Scholarships
LoansWork-Study
1999-2000
54% 45% 1%
2004-2005
63% 35% 2%
2008-2009
70% 27% 3%
As a result, fewer students needed to borrow, and have borrowed less, even with increases in tuition and other college costs . . .
Average Cumulative Loan Indebtedness For Graduating Seniors Who Borrowed
Academic Year
% Who Borrowe
d
Current Dollar
Amount Borrowed
1999-2000
24% $13,687
2004-2005
34% $13,801
2008-2009
29% $14,262
*Note: Debt includes only loans from Federal Title IV loan programs.
A weakening economy
Rising unemployment
Changing demographics (including more students who exhibit need)
It will be increasingly difficult for the University to maintain these favorable aid patterns into the 2010-11 academic year given . . .
The number of students who qualified for need-based aid this year (2009-10) rose dramatically over last year (2008-09) . . .
23% increase in students with need
26% increase in freshmen with need
28% increase in Carolina Covenant Scholars
34% increase in Federal Pell Grant recipients
More students than ever applied on time
We expect students and families to exhibit even greater need next year (2010-11) . . .
Costs are going up (e.g., tuition and health insurance)
More families were unemployed in 2009 than in 2008
The economy is not recovering as quickly as we had hoped
As a result more students are expected to qualify for need-based aid
Going forward, the University still expects to meet the full need of undergraduates who apply on time (March 1), but aid patterns will likely change. . .
The Legislature has already cut student grants and may keep campus-based tuition receipts (50% of which would be used for grants otherwise)
The percentage of need met with grants and scholarships will drop from today’s 70% to an anticipated 65%
More students will likely borrow and will borrow more than in prior years
Maintaining Carolina’s favorable need-based aid patterns of the past, within this period of economic downturn, will remain a considerable challenge.
Conclusion and Discussion:
Ten Year Comparison of Scholarship and Financial Aid (Need and Non-Need-Based) Awards All Students (Undergraduate, Graduate/Professional)
1999-00 2008-09
Total Aid Awarded (in millions)
$119.7 $233.2
Number of Students 10,599 15,871
Average Award $11,289 $14,695
Funds by Source
Federal 57% 52%
State 10 11
Institutional/Private 33 37
Funds by Type
Scholarships/Grants 45% 47%
Work-Study 1 1
Loans 54 52
Source: Office of Scholarships and Student Aid/Office of Institutional Research (February 2010)
2009-2010 UNC STANDARD STUDENT BUDGETS(03/17/09)
UNDERGRADUATE STUDENTS
IN-STATEOn/Off Campus Living with Parents
Tuition/Fees $5,626($3,865/$1,761) $5,626($3,865/$1,761)
Room/Board (inc. phone) $8,670($5,250/$3,420) $2,290($0/$2,290)
Books/Supplies $1,000 $1,000
Travel $878 $878
Misc 1 (Ins./Personal) $1,250 $1,250
Total $17,424 $11,044
Messages (001)(007)(015) (005)(028)
OUT-OF-STATE
Tuition/Fees $23,514($21,753/$1,761) $23,514($21,753/$1,761)
Travel (Home) $1,306 $1,306
Total $35,740 $29,360
Messages (002)(008)(016) (006)(029)
2009-2010 UNC STANDARD STUDENT BUDGETS(03/17/09)
GRADUATE STUDENTS
IN-STATEOn/Off Campus Living with Parents
Tuition/Fees $7,162 ($5,413/$1,749) $7,162 ($5,413/$1,749)
Room/Board (inc. phone) $13,920 ($10,500/$3,420) $2,290 ($0/$2,290)
Books/Supplies $1,000 $1,000Travel $1,306 $1,306Misc 1 (Personal) $2,706 $2,706
Total $26,094 $14,464
Messages (007)(015) (005)(028)
OUT-OF-STATE
Tuition/Fees $21,560 ($19,811/$1,749) $21,560 ($19,811/$1,749)
Other Costs $18,932 $7,302Total $40,492 $28,862
Messages (008)(016) (006)(029)
Aided Undergraduate Students, 2008-2009
Enrolled undergraduates receiving any aid: 59%
Median parental income (all aided dependent students) $73,003
Median for aided resident students $70,129Median for aided non-residents $88,866
Enrolled undergraduates receiving need-based aid: 32%
Median parental income, recipients with need $53,199
Median parental income, Covenant Scholars $24,000
(Average family size was 4 throughout)