Annual Update: Spring 2012
Committee on Scholarships, Awards and Student Aid
Professor Charles E. Daye, Chair
February 10, 2012
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, 2011-12
Name and Department Term(s)Faculty/Staff/StudentsCharles Daye, Chair (Law) 2003-12Todd Austell (Chemistry) 2010-13Cheryl Jones (Nursing) 2010-13Donald Hornstein (Law) 2008-11Jane Danielewicz (English) 2008-11Judy Adamson (Dramatic Art) 2011-14Tara Moon (Medicine) 2010-13Dennis Williams (Pharmacy) 2010-13George Lensing (English) 2009-12Fred Clark (Romance Languages) 2009-12Winston Crisp (Student Affairs) Ex officioSteve Farmer (Admissions) Ex officioShirley Ort (Student Aid) Ex officioKiran Bhardwaj (Graduate Student) 2011-12Chris Scanzoni (Undergraduate) 2010-12Kira Lumsden (Undergraduate) 2010-12Travis Crayton (Undergraduate) 2010-12
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 2010-11 the University provided assistance to 20,362 undergraduate, graduate and professional students . . .
Total: 20,362 Students Receiving Aid
. . . and disbursed $351.2 million in aid, with the largest share provided by the Federal government . . .
Total: $351.2 (In Millions)
State: $20.5 (6%)
Federal: $173.3 (49%)Institutional &
Private: $157.4 (45%)
Focusing on undergraduates -- 43 percent received need-based aid in 2010-2011, up from 37 percent in the prior year . . .
Total: 18,579 Undergraduate Students
Aided Needy Students 7,900 (43%)
Non-Aided Students 6,635
(36%)
Aided Non-Needy Students 4,044
(22%)
The proportion of undergraduate students demonstrating need has increased significantly since 2009 . . .
Year
Need-Based Aid Recipients
n %
2004-2005 5,563 34%
2008-2009 5,817 32%
2009-2010 6,629 37%
2010-2011 7,900 43%
The average amount of financial aid disbursed to an undergraduate receiving need-based aid in 2010-11 was quite generous . . .
Loans (24%)
Work-Study (2%)
Grants & Scholarships (74%)
The share of a student’s need which was met with grants and scholarships has increased despite increases in tuition and other college costs . . .
Trends in Type of Aid Distributed to Undergraduate Students With Need
YearGrants & Scholars
hipsLoans Work-
Study
2004-2005 63% 35% 2%
2008-2009 70% 27% 3%
2009-2010 70% 27% 3%
2010-2011 74% 24% 2%
As a result, student borrowing has been kept at a minimum and cumulative indebtedness among borrowers actually declined last year . . .
Cumulative Student Loan Debt Upon GraduationAmong Seniors Who Borrowed
Academic Year
% Who Borrowe
d
Cumulative Amount Borrowed
2004-2005
34% $13,801
2008-2009
29% $14,262
2009-2010
31% $16,165
2010-2011
35% $15,472
*Note: Debt includes only loans based on need, rather than discretionary borrowing.
Ten Year Changes in Cost of Attendance for Resident Undergraduates, Compared to
Borrowing PatternsCost of Attendance 2000-2001 2010-2011 Increase
Tuition & Fees $2,768 $6,666 $3,898
Room and Board and Other $8,097 $13,098 $5,001
Total $10,865 $19,764 $8,899
Resident Students With Need #3,638 #6,380
Students who Borrowed 2,602 (72%)
3,391 (53%)
Average Loan $4,673 $6,861 $2,188
Median Parental Income of Dependent Aided Undergraduates,
2010-11 Enrolled undergraduates receiving any aid: 64%
Median parental income (all aided dependent students) $70,315
For aided resident students $67,610 For aided non-residents $84,418
Enrolled undergraduates receiving need-based aid: 43%
Median parental income (recipients with need) $55,781
For aided resident students $53,178For aided non-residents$71,700For Carolina Covenant® Scholars $23,655
(Average family size was 4 throughout; median for N. C.
resident is $68,985)
A slow-growth economy
Persistent unemployment
Rising tuition and other college costs
A likely increase in the number of students with need
Carolina will work hard to maintain these favorable aid distribution patterns going forward, given the challenges we face . . .
Other challenges are present as well. . .
The State is reducing funding for need-based grants
Changes to the state grant allocation formula could cost our students another $2.5 million in the upcoming year
Federal funding for the Pell Grant program remains uncertain
More students will likely need to borrow, and borrow more, in the coming years
It is important that the University be permitted to dedicate a share of new tuition revenues for need-based aid (currently at 38%)
Still, there is good news!
For the 11th year in a row, Carolina wasnamed by Kiplinger’s as the “best value”
inAmerican public higher education
Ten Year Comparison of Scholarship and Financial Aid (Need and Non-Need-Based)
Awards: All Students (Undergraduate,
Graduate/Professional) 2000-2001
2009-2010
2010-2011
Total Aid Awarded (in millions) $128.1 $257.8 $351.2
Number of Students 11,501 16,903 20,362Average Award $11,136 $15,252 $17,248
Funds by SourceFederal 57% 53% 49%State 10 10 6Institutional/Private 33 37 45Funds by TypeScholarships/Grants 38% 47% 54%Work-Study 1 1 1Loans 61 52 45
Source: Office of Scholarships and Student Aid/Office of Institutional Research (February 2012)
Maintaining Carolina’s favorable need-based aid patterns of the past will remain a challenge. But Carolina has met that challenge in the past and is no less committed to funding both access and affordability going forward.
Conclusion and Discussion:
2010-2011 UNC STANDARD STUDENT BUDGETS(07/22/10)
UNDERGRADUATE STUDENTS
IN-STATEOn/Off Campus Living with Parents
Tuition/Fees $6,666 ($4,816/$1,850) $6,666 ($4,816/$1,850)
Room $5,408 $0Board $3,898 $2,598Books/Supplies $1,028 $1,028Travel $750 $750Health Insurance $724 $724Misc 1 (Personal) $1,290 $1,290Total $19,764 $13,056
OUT-OF-STATE
Tuition/Fees $25,280 ($23,430/$1,850) $25,280 ($23,430/$1,850)
Travel (Home) $1,292 $1,292Total $38,920 $32,212
2010-2011 UNC STANDARD STUDENT BUDGETS(07/22/10)
GRADUATE STUDENTS
IN-STATE On/Off Campus Living with Parents
Tuition/Fees $8,202 ($6,363/$1,839) $8,202 ($6,363/$1,839)
Room $10,816 $0Board $3,898 $2,598
Books/Supplies $1,028 $1,028Travel $1,292 $1,292Health Insurance $724 $724Misc 1 (Personal) $2,712 $2,712Total $28,672 $16,556
OUT-OF-STATE
Tuition/Fees $22,932 ($21,093/$1,839) $22,932 ($21,093/$1,839)
Other Costs $20,470 $8,354Total $43,402 $31,286
Academic Year % Who Borrowed
Current Dollar Amount Borrowed
Constant Dollar Amount
1999-2000 24% $13,687 $17,9972000-2001 24% $11,156 $14,2632001-2002 23% $12,314 $15,4982002-2003 31% $13,291 $14,1762003-2004 34% $13,579 $16,2762004-2005 34% $13,801 $16,0002005-2006 32% $14,487 $16,2712006-2007 34% $14,912 $16,2842007-2008 31.5% $14,936 $15,7072008-2009 28.8% $14,262 $15,0522009-2010 30.8% $16,165 $16,7852010-2011 34.7% $15,472 $15,472
Adjusted for inflation, the cumulative debt burden among borrowers is $2,525 lower than a decade ago.