UNC offers need-based financial aid to help off-set the costs of attendance. Eligibility for financial aid is based on information provided by students on FAFSA, the Free Application for Federal Student Aid, and the CSS/PROFILE. Parents’ income and assets factor into how much a student will receive. Students must request financial aid yearly and fill out new forms each time.
UNC tries to meet the full extent of a student’s financial need. Nearly half of the students receive aid, and 1 in 3 students borrow to afford school. Average student debt is lower at UNC than at similar schools.
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UNC-system administrators say they will use their newfound flexibility with tuition revenues to better meet students’ financial aid needs. After the UNC-system Board of Governors voted Friday to grant universities more control of their funds, tuition and fee committees across the system will take a closer look at their schools’ individual financial aid needs.
The UNC-system Board of Governors gave final approval to a new policy today that grants each university the flexibility to determine how much tuition revenue is allocated to need-based financial aid.
Today, the Board of Governors will take a major vote on the future of financial aid in the UNC system.
Thomas Ross’s proposal is less damaging than the previously suggested cap on money set aside for financial aid at 25 percent. But while some call the new proposal a compromise, the motivation behind the proposed cap — that using money one person pays to help another is unfair — remains.
Financial aid helps keep the UNC system great. Tim and I agree on that. What we disagree on is how the system can best ensure that new tuition hikes don’t deny access to students with need.
UNC-system President Thomas Ross wants to hand the reins to campuses to determine how much tuition revenue they should devote to need-based financial aid. Campuses have been required to set aside at least 25 percent of new revenue from tuition increases for need-based financial aid since the adoption of the second four-year tuition and fee plan in 2010.
In the student government office, pictures hang on the wall of every student body president since the beginning of the twentieth century.
UNC-system employees have gone four years without pay increases, but that will soon change.
For students trying to navigate through their financial aid options, the process will soon be made easier.
An estimated two-thirds of college students borrow money to pay for college, and the federal government is trying to make the process easier.
UNC joined a select group of the nation’s colleges and universities in a commitment to financial aid transparency this week. “We want to make sure students get the best information they can and that they understand it,” Thorp said.
The University provided more financial aid in the form of grants and scholarships in the 2010-11 school year, a trend that helps ease student debt after graduation, administrators said.
The last time Jon King appeared before the Board of Trustees, he was heckled by angry students protesting tuition increases.
The number of financial aid applicants has risen consistently by almost 3,000 students each year from 2008 to 2011.
At Thursday’s Board of Governors budget and finance committee meeting, UNC-system President Thomas Ross’s tuition plan passed by a vote of 5-1. But the discussion surrounding the vote was still contentious, and its subject has the potential to change the character of UNC even more than the highest tuition increase would.
The largest-ever individual financial aid donation received by Duke University will promote diversity and access for prospective students in both the U.S. and abroad, administrators say.