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Financial Aid Review 2012-13 Tuition Review Advisory Committee.

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Presentation on theme: "Financial Aid Review 2012-13 Tuition Review Advisory Committee."— Presentation transcript:

1 Financial Aid Review 2012-13 Tuition Review Advisory Committee

2 Financial Aid Review 2012-13 Tuition Review Advisory Committee August 30, 2012  Continued growth in demand for financial aid.  Federal Grant funding changes o 12 semester limit for Pell Grant recipients. o Loss of interest subsidy for graduate students. o Loss of interest subsidy for undergraduate students during the grace period.  Cost of Attendance increases. 2

3 Enrolled Undergraduate Financial Aid Applicants 3

4 Enrolled Undergraduate Financial Aid Applicants with Need 4

5 Enrolled Graduate Financial Aid Applicants 5

6 Enrolled Graduate Financial Aid Applicants with Need 6

7 Federal Pell Grant Funding Awarded to NC State Undergraduates YearNumber of RecipientsDollars Awarded 2004-053,842$10,186,571 2005-063,641$ 9,617,645 2006-073,814$10,233,570 2007-084,095$11,357,274 2008-094,074$13,184,243 2009-10 5,180$19,810,152* 2010-116,215$23,538,895** 2011-12 6,039$23,297,762 2012-13 as of 8/22/124,682$21,088,737 *an additional $1,453,358 in Pell funds disbursed for summer 2010 **an additional $2,191,043 in Pell funds disbursed for summer 2011 7

8 NC State Graduating Senior Aggregate Loan Debt Graduating Senior Class % Borrowed Federal Loans Average Debt 2005-0644%$15,718 2006-0745%$15,823 2007-0845%$15,560 2008-0945%$19,739 2009-1045%$20,763 2010-1147%$18,126 8

9 Considerations for 2012-13 Federal Pell Grant funding continues to be in jeopardy; the interest subsidy during the grace period has been eliminated to prop up the program and a limitation of eligibility has been imposed. Additional cuts are expected as the program is not sustainable in it’s current form. Graduate and DVM students have lost the in-school interest subsidy on Federal Direct Loans effective July 1, 2012. Rising costs in non-tuition categories, particularly health insurance, continue to increase overall financial need. Recent state grant increase to reinstate awards that were cut in 2011-12. 9

10 Financial Aid Review 2012-13 Tuition Review Advisory Committee


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