1. Financing a University Education CSU-UC Joint Counselor Conference September 2012 1DRAFT

2. The News on the Tuition Front.. If Proposition 30 passes, CSU is likely to roll back its recent tuition increases. So far, there are no UC Tuition Increases for 2012-2013! If the Proposition 30 passes this fall, it will reduce the immediate need for additional tuition and fee increases at CSU and UC DRAFT2

3. 3 Help is available! Federal grants Student loans State grants University grants Both UC & CSU enroll a large number of low- income students, few of whom pay the “sticker price” - concentrate on the “net price” instead! California Students Can Afford College Parent loans Private scholarships Part-time work Higher education tax credits

4. DRAFT4 How to Apply It takes two! File the FAFSA High school or student file Cal Grant GPA verification form March 2 nd is the priority deadline FAFSA available beginning Jan 1 Student and parent can sign with a federal “PIN”

5. DRAFT5 Respond immediately to all requests for follow- up documents and actions, including those from both the financial aid and admissions offices Find out how the college will communicate with the student – many rely on student checking their email and on-line portals for document requests, other action, and award notices Families should hear about their award in time to make an informed decision PRIOR TO THE DATE on which university asks them to commit (often May 1 for freshmen and later for transfers) What Happens Next

6. DRAFT6 Financing College is a Partnership  Students contribute through working and borrowing  Parents are asked to contribute based on their financial strength  Low-income parents often asked to contribution zero  Some students are “independent” of their parents – 34 percent at the CSU (over age 24, dependents of their own, etc.)  Universities pull together financial aid for students  Offer a combination of federal, state, and university grant and scholarship to eligible students  Assist families seeking loans to help meet their contribution

7. DRAFT7 CSUUC Many students work at least half time and enroll less than full time Most students work half time or less and enroll full time Sticker price is about $4.3K - $8.3K less per year than UC, before financial aid is applied Financial aid reduces price differential between the cost of CSU and UC for grant recipients At CSU, average student loan indebtedness for 2010 graduates was about $15,804 (about $182 per month for 10/yrs) At UC, average student loan indebtedness for 2010 graduates was about $17,712 (about $200 per month for 10/yrs) Typical time-to-degree for entering freshman is 5.2 years. Typical time-to-degree for entering freshman is 4.3 years Typical time to degree for entering junior transfer student is 3 years Typical time to degree for entering junior transfer student is 2.3 years

8. DRAFT8 Costs of Attending CSU and UC 2012-2013 California State University 2012-13At Home On Campus Off Campus Fees $7,025 Books & Supplies 1,666 Room & Board 4,32610,93211,493 Transp. 1,4131,2451,444 Personal 2,7082,5762,671 TOTAL $17,138$23,444$24,299 Most families do not pay the “sticker price” University of California 2012-13At Home On Campus Off Campus Fees $13,200 Books & Supplies 1,500 Room & Board 4,40013,5009,600 Personal & Transp. 3,4002,2003,000 Health Ins. 1,1001,300 TOTAL $23,600$31,700$28,600

9. DRAFT9 CSU and UC are Affordable  For families paying “full sticker price,” per year, CSU is on average $6,462 less for commuters, $8,256 less for students living on our campuses, and $4,301 less for students living off campus, but not with family. This annual cost differential between CSU and UC may be slightly less for financial aid recipients. UC budgets also include over $1000 per year for student health insurance, a UC charge that students can have waived if they are covered under another policy.  UC expects full-time enrollment and part-time work; CSU is more flexible  About half of undergraduate students take out student loans at UC and CSU  Public institutions in California are the best educational bargains, especially for low-income students, even with recent tuition fee increases  Most students enrolled in private colleges and universities take out student loans and graduate with higher average student loan debt than students who graduate from public institutions, no matter the time to degree or other factors!

10. DRAFT10 Resources CSU Financial Aid Information: http://www.calstate.edu/SAS/sfa_index.shtml UC Financial Aid Information: http://www.universityofcalifornia.edu/admissions/paying.html FAFSA and federal PIN Information www.fafsa.ed.gov Cal Grant Information - www.csac.ca.gov or 1-888-224-7268www.csac.ca.gov California DREAM application - https://dream:csac.ca.gov/https://dream:csac.ca.gov/ What will my monthly repayment be for student loans? http://www2.ed.gov/offices/OSFAP/DirectLoan/RepayCalc/dlentry1.html