MPACT MPACT - Montana Partnering for Affordable College Tuition

The Situation Nearly half of Montana high school graduates do not go on to higher education, and 15% go to college out of state. Net cost of attendance at MUS campuses can lead to challenging debt loads for many Montana families (at or below median household income). The annual number of Montana high school graduates will decline by at least 1,000 students over the next decade. MPACT - Montana Partnering for Affordable College Tuition

The Situation Direct Cost of Attendance at the University of Montana – Missoula (Mountain Campus) * Tuition & Fees - $4,894 Room & Board - 5,646 Books & Supplies $11,340 * Based on current costs. Excludes financial aid allowance for personal expenses. MPACT - Montana Partnering for Affordable College Tuition

The Situation Current Aid available for MT students with highest need Pell Grant - $ 4,050 Federal SEOG - $ 800 College Work Study - $ 2,000 $ 6,850 MPACT - Montana Partnering for Affordable College Tuition

The Situation Net Direct Cost of Attendance Direct Cost - $11,340 Less gift aid - ($6,850) $4,490 MPACT - Montana Partnering for Affordable College Tuition

The Challenge Create a program to provide a more affordable college education opportunity to modest income level Montana high school graduates. Evaluate the “Illinois Promise” and similar programs in North Carolina, Georgia, and other states. But, tailor the program to better fit the goals and resources of The University of Montana, and the demographic and financial profiles of students and families in Montana. MPACT - Montana Partnering for Affordable College Tuition

The Proposal MPACT MPACT - Montana Partnering for Affordable College Tuition M ontana P artnering for A ffordable C ollege T uition

The Proposal MPACT For new high school graduates MPACT - Montana Partnering for Affordable College Tuition Dependent students with Pell Grant eligibility (most Montana families up to median income) Academically prepared students (High school GPA ≥ 3.0 and ACT ≥ 25 - mountain campus) (High school GPA ≥ COT)

EFC=Expected Family contribution MPACT - Montana Partnering for Affordable College Tuition  Federal computation determined from information provided on the Free Application for Federal Student Aid (FAFSA) Major factors affecting EFC Student Income Parent Income # in Household # Dependents In college Student Assets Parent Assets

EFC Examples MPACT - Montana Partnering for Affordable College Tuition Parent’s Income $20,675$27,131$39,790 Parent’s Assets$500$100,858$38,000 Number in Household444 Number in College111 Student’s Income000 Student’s Assets0$3,300$19 EFC$0$2,213$2471

MPACT MPACT - Montana Partnering for Affordable College Tuition * Expected Family Contribution – as defined by Federal financial aid guidelines

Net Direct Cost (after Pell, SEOG, work study) $4,490 – Less MPACT award - ($2,000) Student Obligation$2,490 * * $1,350 at the COT MPACT - Montana Partnering for Affordable College Tuition MPACT * A student’s obligation can be financed with guaranteed student loans or reduced by external funding.

Methodology for Projecting Incremental Students MPACT - Montana Partnering for Affordable College Tuition MPACT

4 Year Projected Awards – Mountain Campus MPACT - Montana Partnering for Affordable College Tuition MPACT

4 Year Projected Awards – COT Campus MPACT - Montana Partnering for Affordable College Tuition MPACT

Projection of 4 Year Cost – UM-Missoula MPACT - Montana Partnering for Affordable College Tuition MPACT

Benefits Addresses “tuition gap” for Montana families ≤ median income. Mitigates declining pool of resident high school graduates. Improves yield of students at upper range of academic profile. Improves retention - preparedness and financial assistance. Provides long-term incentive for academic achievement in K-12. MPACT - Montana Partnering for Affordable College Tuition MPACT