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Louisiana Public Postsecondary Education Tuition and State Aid Policies Overview

Louisiana Public Postsecondary Education Tuition and State Aid Policies Overview. August 19, 2011. Tuition. Tuition Policy. 1974 Constitution/Act 313 of 1975 – authority to system management boards 1995 Constitutional amendment – 2/3 vote of legislature

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Louisiana Public Postsecondary Education Tuition and State Aid Policies Overview

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  1. Louisiana Public Postsecondary Education Tuition and State Aid PoliciesOverview August 19, 2011

  2. Tuition

  3. Tuition Policy • 1974 Constitution/Act 313 of 1975 – authority to system management boards • 1995 Constitutional amendment – 2/3 vote of legislature • Act 1105 of 2003 – Regents to study/formulate tuition/fee policy

  4. Tuition Policy • 2005 Tuition Policy – adopted by Regents, not approved by Legislature • Six-year plan to yield adequate revenue, predictable/reasonable charges • Included a financial aid component • Act 918 of 2008 – Regents 3,4,5 Plan, JLCB approval • Act 741 of 2010 (GRAD Act) – six-year plan to grant tuition authority to institutions in return for performance

  5. 2011-12 Tuition Rates 4-yearCompared to Peer Rates Gaps range from -13.5% to -40.0%

  6. 2011-12 Tuition Rates 2-yearCompared to Peer Rates Gaps range from .5% to -19.2%

  7. Student Financial Assistance

  8. Financial Aid Policy • TOPS – 1998 (merit) • Act 694 of 2004 – Regents to formulate financial aid policy • 2005 Tuition Policy – adopted by Regents, not approved by Legislature • Included a financial aid component • 2007 GO Grant – Regents, need-based • 2007 Early Start – Regents, dual enrollment

  9. 2011-2012 Appropriation

  10. Financial Aid Comparisons(Based on 2009-2010 NASSGAP Data) Aid based on Need Aid based on Need and Merit Aid based on Merit Special Purpose

  11. Student Aid Sources • Federal

  12. Financial Aid Overview Cost of Attendance (COA) -Expected Family Contribution (EFC) =Financial Need • Aid and Resources = Remaining Financial Need

  13. Financial Aid Overview • Cost of Attendance (COA) – set by school • Tuition and Fees • Books and Supplies • Room and Board • Transportation • Personal Expenses National Average for 4 year public = $17,417 Louisiana Public 4-Year Average = $15,514 National Average for 2 year public = $13,126 Louisiana Public 2-Year Average = $ 9,160

  14. Pell Grant Maximum Payment

  15. Max Pell Award South Louisiana 4-year Public Nation Pell Grant Maximum Payment and Tuition and Fees Comparison The data is enrollment weighted, current dollars tuition and fees for public four-year schools for the nation, Louisiana and College Board southern region respectively. The source of the data is The College Board Annual Survey of Colleges.

  16. 104,346 Louisiana Undergraduates Received Pell Grant Awards Totaling $406,082,6772009-2010 Academic Year 7% 33% 14% 9% 24% 13% Maximum Pell Grant for the 2009-2010 Award Year was $5,350.

  17. Student Aid Sources • State

  18. TOPS Expenditures and Recipients As of October 30, 2009 $ in Millions Students Note: The 2011-12 Academic Year data shows the amount appropriated and projected to be expended for the year and the projected number of recipients.

  19. Go Grant Expenditures and Recipients As of August 4, 2011 $ in Millions Students Note: The 2011-12 Academic Year data shows the amount appropriated and projected to be expended for the year and the projected number of recipients.

  20. 2010-2011 TOPS and GO Grant Comparison TOPS 43,288 Students $144,449,583 TOPS and Go Grant 9,906 Students $8,953,805 Go Grant $31,709,588 TOPS Go Grant 30,774 Students $25,120,516

  21. Financial Need4 Yr College (2010-11 average)Lowest COA Based on Living with Parents Max Pell Min Pell COA $11,718 $11,718 - EFC $0 $5,273 = Financial Need $11,718 $6,443 - Pell Grant* $5,550 $555 = Remaining Need $6,168 ** $5,890** *EFC = 0 – 5273, student qualifies for Pell Grant of $5550 - $555 **$2000 GO Grant funds approximately 1/3 of unmet need , on average , at a 4 year public institution.

  22. Financial Need2 Yr Community College (2010-11 average)Lowest Cost COA Based on Living with Parents Max Pell Min Pell COA $9,647 $9,647 - EFC $0 $5,273 = Financial Need $9,647 $4,374 - Pell Grant* $5,550 $555 = Remaining Need $4,097** $3,819** *EFC = 0 – 5273, student qualifies for Pell Grant of $5550 - $555 **$2000 GO Grant funds approximately ½ of unmet need, on average, at a 2 year community college.

  23. Financial NeedLA Technical College (2010-2011)Lowest Cost COA Based on Living with Parents Max Pell Min Pell COA $8,414 $8,414 - EFC $0 $5,273 = Financial Need $8,414 $3,141 - Pell Grant* $,550 $555 = Remaining Need $2,864 $2,586 *EFC = 0 – 5273, student qualifies for Pell Grant of $5550 - $555 **$2000 GO Grant funds approximately ¾ of unmet need, on average, at the Louisiana Technical College.

  24. Early Start Expenditures and Recipients As of August 4, 2011 $ in Millions Students Notes: (1) The 2008-2009 data only includes state funding for the first half of the year and does not include the cost of the program for the second half of the year that was assumed by the participating colleges and universities. (2) The 2011-12 Academic Year data shows the amount appropriated and projected to be expended for the year and the projected number of recipients.

  25. Financial Aid Research Project

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