Annual Update: Spring 2010

Committee on Scholarships, Awards and Student Aid

Professor Charles E. Daye, Chair

February 26, 2010

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, 2009-10Name and Department Term(s)

Faculty/Staff/StudentsCharles Daye, Chair (Law) 2003-12Todd Austell (Chemistry) 2001-10Jean DeSaix (Biology) 2001-10Donald Hornstein (Law) 2008-11Jane Danielewicz (English) 2008-11Melissa Exum (Student Affairs) Ex officioSteve Farmer (Admissions) Ex officioShirley Ort (Student Aid) Ex officioKathy Moore (Nursing) 2007-10Dennis Williams (Pharmacy) 2004-10George Lensing (English) 2009-12Fred Clark (Romance Languages) 2009-12Joy Cranshaw (Graduate Student) 2008-10Chris Scanzoni (Undergraduate) 2009-10Charles Sellew (Undergraduate) 2008-10Kira Lumsden (Undergraduate) 2008-10

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 2008-09 the OSSA provided assistance to 15,781 students . . .

Total: 15,871 Students Receiving Aid

. . . And disbursed over $233 million in aid, with the largest share provided by the Federal government . . .

Total: $233.3 (In Millions)

State: $26.1 (11%)

Federal: $121.1 (52%)Institutional &

Private: $86.1 (37%)

Focusing now on undergraduate students, nearly a third received need-based aid in 2008-09 . . .

Total: 17,895 Undergraduate Students

Aided Needy Students 5,817 (32%)

Non-Aided Students 7,259

(41%)

Aided Non-Needy Students 4,819

(27%)

. . . The proportion of undergraduate students demonstrating need has been fairly constant over time (but will have increased in 2009-10) when final data are available) . . .

Year

Need Based Aid Recipients

n %

1999-2000 4,155 27%

2004-2005 5,563 34%

2008-2009 5,817 32%

The typical financial aid package for an undergraduate student receiving need-based aid in 2008-09 is by all standards quite generous . . .

Loans (27%)

Work-Study

(3%)

Grants & Scholarships (70%)

. . . The share of a student’s need being met through grants and scholarships increased significantly over the last decade . . .

Trends in Type of Aid Distributed to Undergraduate Students With Need

YearGrants &

Scholarships

Loans Work-Study

1999-2000 54% 45% 1%

2004-2005 63% 35% 2%

2008-2009 70% 27% 3%

As a result, fewer students needed to borrow, and have borrowed less, even with increases in tuition and other college costs . . .

Average Cumulative Loan Indebtedness For Graduating Seniors Who Borrowed

Academic Year

% Who Borrowe

d

Current Dollar

Amount Borrowed

1999-2000

24% $13,687

2004-2005

34% $13,801

2008-2009

29% $14,262

*Note: Debt includes only loans from Federal Title IV loan programs.

A weakening economy

Rising unemployment

Changing demographics (including more students who exhibit need)

It will be increasingly difficult for the University to maintain these favorable aid patterns into the 2010-11 academic year given . . .

The number of students who qualified for need-based aid this year (2009-10) rose dramatically over last year (2008-09) . . .

23% increase in students with need

26% increase in freshmen with need

28% increase in Carolina Covenant Scholars

34% increase in Federal Pell Grant recipients

More students than ever applied on time

We expect students and families to exhibit even greater need next year (2010-11) . . .

Costs are going up (e.g., tuition and health insurance)

More families were unemployed in 2009 than in 2008

The economy is not recovering as quickly as we had hoped

As a result more students are expected to qualify for need-based aid

Going forward, the University still expects to meet the full need of undergraduates who apply on time (March 1), but aid patterns will likely change. . .

The Legislature has already cut student grants and may keep campus-based tuition receipts (50% of which would be used for grants otherwise)

The percentage of need met with grants and scholarships will drop from today’s 70% to an anticipated 65%

More students will likely borrow and will borrow more than in prior years

Maintaining Carolina’s favorable need-based aid patterns of the past, within this period of economic downturn, will remain a considerable challenge.

Conclusion and Discussion:

Ten Year Comparison of Scholarship and Financial Aid (Need and Non-Need-Based) Awards All Students (Undergraduate, Graduate/Professional)

1999-00 2008-09Total Aid Awarded (in millions)

$119.7 $233.2

Number of Students 10,599 15,871Average Award $11,289 $14,695

Funds by SourceFederal 57% 52%State 10 11Institutional/Private 33 37Funds by TypeScholarships/Grants 45% 47%Work-Study 1 1Loans 54 52

Source: Office of Scholarships and Student Aid/Office of Institutional Research (February 2010)

2009-2010 UNC STANDARD STUDENT BUDGETS(03/17/09)

UNDERGRADUATE STUDENTS

IN-STATEOn/Off Campus Living with Parents

Tuition/Fees $5,626($3,865/$1,761) $5,626($3,865/$1,761)Room/Board (inc. phone) $8,670($5,250/$3,420) $2,290($0/$2,290)Books/Supplies $1,000 $1,000Travel $878 $878Misc 1 (Ins./Personal) $1,250 $1,250Total $17,424 $11,044

Messages (001)(007)(015) (005)(028)

OUT-OF-STATE

Tuition/Fees $23,514($21,753/$1,761) $23,514($21,753/$1,761)Travel (Home) $1,306 $1,306Total $35,740 $29,360

Messages (002)(008)(016) (006)(029)

2009-2010 UNC STANDARD STUDENT BUDGETS(03/17/09)

GRADUATE STUDENTS

IN-STATEOn/Off Campus Living with Parents

Tuition/Fees $7,162 ($5,413/$1,749) $7,162 ($5,413/$1,749)Room/Board (inc. phone) $13,920 ($10,500/$3,420) $2,290 ($0/$2,290)Books/Supplies $1,000 $1,000Travel $1,306 $1,306Misc 1 (Personal) $2,706 $2,706Total $26,094 $14,464

Messages (007)(015) (005)(028)

OUT-OF-STATE

Tuition/Fees $21,560 ($19,811/$1,749) $21,560 ($19,811/$1,749)Other Costs $18,932 $7,302Total $40,492 $28,862

Messages (008)(016) (006)(029)

Aided Undergraduate Students, 2008-2009

Enrolled undergraduates receiving any aid: 59%

Median parental income (all aided dependent students) $73,003

Median for aided resident students $70,129Median for aided non-residents $88,866

Enrolled undergraduates receiving need-based aid: 32%

Median parental income, recipients with need $53,199

Median parental income, Covenant Scholars $24,000

(Average family size was 4 throughout)