financial aid review 2012-13 tuition review advisory committee
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Financial Aid Review 2012-13 Tuition Review Advisory Committee. Financial Aid Review 2012-13 Tuition Review Advisory Committee August 30, 2012. Continued growth in demand for financial aid. Federal Grant funding changes 12 semester limit for Pell Grant recipients. - PowerPoint PPT PresentationTRANSCRIPT
Financial Aid Review2012-13 Tuition Review Advisory Committee
Financial Aid Review2012-13 Tuition Review Advisory Committee
August 30, 2012
Continued growth in demand for financial aid.
Federal Grant funding changes o12 semester limit for Pell Grant recipients.oLoss of interest subsidy for graduate students.oLoss of interest subsidy for undergraduate students during the grace period.
Cost of Attendance increases.
2
Enrolled Undergraduate Financial Aid Applicants
92639848
1060711117 11111 11491
12038 12310
13334
1489215509
1604715500
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 as of 8/22/12
3
Enrolled Undergraduate Financial Aid Applicants with Need
6484 6725
74978134 8286 8218
8648 88299334
10652
1180612212 11990
0
2000
4000
6000
8000
10000
12000
14000
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 as of 8/22/12
4
Enrolled Graduate Financial Aid Applicants
1263 1207
1426
1625
2069 21272020
21832293
2747
31703028
2929
0
500
1000
1500
2000
2500
3000
3500
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 as of 8/22/12
5
Enrolled Graduate Financial Aid Applicants with Need
11491057
12751440
1885 1894 18641955
2076
2512
2930 2893
2683
0
500
1000
1500
2000
2500
3000
3500
2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 as of 8/22/12
6
Federal Pell Grant Funding Awarded to NC State Undergraduates
Year Number of Recipients Dollars Awarded
2004-05 3,842 $10,186,571
2005-06 3,641 $ 9,617,645
2006-07 3,814 $10,233,570
2007-08 4,095 $11,357,274
2008-09 4,074 $13,184,243
2009-10 5,180 $19,810,152*
2010-11 6,215 $23,538,895**
2011-12 6,039 $23,297,762
2012-13 as of 8/22/12 4,682 $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 20117
NC State Graduating Senior Aggregate Loan Debt
Graduating Senior Class
% Borrowed Federal Loans
Average Debt
2005-06 44% $15,718
2006-07 45% $15,823
2007-08 45% $15,560
2008-09 45% $19,739
2009-10 45% $20,763
2010-11 47% $18,126
8
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
Financial Aid Review2012-13 Tuition Review Advisory Committee