Financial Aid, Access and Success at UC. UC College Access & Preparation Forum June 17, 2016

Transcription

1 Financial Aid, Access and Success at UC UC College Access & Preparation Forum June 17, 2016

2 It is one of the glories of the University of California that, for the most part, its students are poor. It is carrying out the purpose of its foundation to put the children of citizens of small means on the same footing in opportunities for education as the children of the rich. -San Francisco Examiner, /22/2016 2

3 California s Upward-Mobility Machine - New York Times, September 16, 2015 UC enrolls a higher percentage of Pell Grant recipients than comparable public universities Students with similar academic preparation perform similarly, no matter the family income 6/22/2016 3

4 Blue & Gold Opportunity Plan California students whose families make up to $80,000 and who are eligible for financial aid will pay nothing in tuition More than Half California Undergraduates Pay No Tuition Pay Full Tuition Pay Partial Tuition Pay No Tuition 6/22/2016 4

5 Financial Aid Strategy Overview

6 UC s financial aid strategy guides how the University does the following: determines the overall funding needed for UC grants allocates funding to campuses awards funds to individual students. 6/22/2016 6

7 The Goal: Ensuring that UC is financially accessible to all students admitted under the Master Plan. The Plan: Based on three key principles UC must acknowledge the full cost of attendance, not just tuition. Financing a UC education requires a partnership between students, parents, government aid programs, and UC. All students should be expected to make a similar, manageable contribution from loan and work. 6/22/2016 7

8 UC Considers All Student Expenses Typical UC Total Cost of Attendance, $33,600 $20,200 Housing, Books & Supplies, Transportation, Health Care Tuition/Fees $13,400 $0 Category 1 6/22/2016 8

9 Financing Partnership in Action Average Total Cost of Living On-campus = $33,600 $30,000 $25,000 UC Grant UC Grant Parent Contribution $20,000 Cal Grant $15,000 $10,000 $5,000 Pell Grant Pell Grant Student Work & Loan $- $20K $30K $40K $50K $60K $70K $80K $90K $100K $110K $120K $130K $140K $150K Parent Income 6/22/2016 9

10 Financing Partnership in Action Average Total Cost of Living On-campus = $33,600 $30,000 $25,000 UC Grant Parent Contribution $20,000 Cal Grant $15,000 $10,000 Pell Grant Fully Implemented Middle Class Scholarship Program $5,000 Student Work & Loan $- $20K $30K $40K $50K $60K $70K $80K $90K $100K $110K $120K $130K $140K $150K Parent Income 6/22/

11 Self-Help: Average Cumulative Borrowing for UC Students by Parent Income; $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 National Average 80% 70% 60% 50% 40% 30% 20% 10% $0 Independent Less than $27,000 $27,000 to $54,000 $54,000 to $80,000 $80,000 to $107,000 $107,000 to $134,000 $134,000 to $161,000 $161,000 and Above National Average Average Borrowed $19,299 $18,834 $18,557 $19,317 $19,891 $19,746 $20,708 $20,433 $28,950 Percent Borrwing 74% 71% 67% 62% 50% 48% 24% 24% 69% 0% 6/22/

12 Self-Help: Hours of Student Employment by Income, 2013 UC Cost of Attendance Survey 100% 80% 60% 40% 15% 24% 17% 7% 7% 7% 5% 7% 17% 26% 24% 23% 24% 20% 20% 19% 19% 19% 20% 44% 47% 50% 51% 58% 50% 0% Independent Less than $52,000 $52,000 to $103,000 $103,000 to $155,000 $155,000 and above All Students Did not work 1-10 hours/week hours/week > 20 hours per week 6/22/

13 Trends in the Parent Income of UC Undergraduates, Constant Dollars 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 0% 0% 1% 0% 0% 0% 0% 0% 23% 24% 23% 23% 22% 22% 22% 22% 19% 18% 16% 15% 14% 14% 14% 13% 23% 23% 22% 22% 22% 22% 22% 22% 29% 29% 31% 33% 34% 35% 35% 35% 7% 7% 7% 7% 8% 7% 7% 7% Unknown $161,000 and above $107,000 to $161,000 $54,000 to $107,000 Less than $54,000 Independent 6/22/

14 Proportion of UC Undergraduate and California Populations by Income, % 40% 35% 30% 25% 20% California UC 15% 10% 5% 0% <$54,000 $54,000-$107,000 $107, ,000 >$161,000 6/22/

15 Outcomes

16 Academic Preparation Index Overall GPA (excluding physical education) reported by freshman applicant for 10 th and 11 th grades of high school Score received on the SAT verbal test in the sitting at which the best total score was received Score received on the SAT math test in the sitting at which the best total score was received (GPA * 1000) + (2.5 * (SAT_VERBAL + SAT_MATH) Range = 3,700 to 8,500 6/22/

17 Parent Income Distribution by Academic Preparation Index, Students Entering in ,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1, ,451 4,122 1, ,278 1,732 2,052 3,320 2,983 1,831 3,064 1,758 1,974 1,982 $155K+ $103K-$155K $52K-$103K <$52K 0 6,300 and below 6,301 to 6,801 to 6,800 7,300 Academic Index 7,301 to 8,500 6/22/

18 2-Year Freshman Persistence Rates by Entering Year, Parent Income and Academic Preparation Percent Persisting After 2 Years Academic Index 6,300 and Below Academic Index 6,301 to 6,800 Academic Index 6,801 to 7,300 Academic Index 7,301 to 8, Below $54K $54K-$107K $107K-$161K $161K+ 6/22/

19 Units Completed After 2 Years by Entering Year, Parent Income and Academic Preparation Avg. Units Completed by End of 2nd Year Academic Index 6,300 and Below Academic Index 6,301 to 6,800 Academic Index 6,801 to 7,300 Academic Index 7,301 to 8, Below $54K $54K-$107K $107K-$161K $161K+ 6/22/

20 Four- and Six-Year Graduation Rates by Entering Year, Parent Income and Academic Preparation 6-Year Rates 4-Year Rates Academic Index 6,300 and Below Academic Index 6,301 to 6,800 Academic Index 6,801 to 7,300 Academic Index 7,301 to 8, Below $54K $54K-$107K $107K-$161K $161K + 6/22/

21 Financial Aid Application Process

22 FAFSA/CA Dream Application Updates Apply EARLY Fall 2017 applicants can file FAFSA/CADA starting in Oct 2016 Applicants can apply for admissions and financial aid at the same time Using EXACT income data Will use 2015 income data No need to estimate data It is EASIER to complete Transfer tax information with the click of a button using the IRS Data Retrieval Tool (Not available for CA Dream App) Reduces error rates on the FAFSA 6/22/

23 FAFSA/CA Dream Application Updates Priority Deadline remains MARCH 2, 2017 FAFSA, Calif Dream Act Application, GPA Verification Form UC Institutional Aid, CalGrant; UC financial aid offers will be provided after students has been admitted Freshman admits typically receive notices in late March Transfer admits typically receive notices in May CSAC may notify early applicants of CalGrant eligibility 6/22/

24 For More Information Paying for UC admission.universityofcalifornia.edu/paying-for-uc UC Admissions Application universityofcalifornia.edu/apply FAFSA Fafsa.ed.gov California Dream Act Application dream.csac.ca.gov U.S. Dept. of Ed ed.gov Federal Student Aid ID studentaid.ed.gov/sa/fafsa/fillingout/fsaid Cal Grant Information csac.ca.gov 6/22/

25 Campus Financial Aid Resources UC Berkeley (510) financialaid.berkeley.edu UC Davis (530) financialaid.ucdavis.edu UC Irvine (949) UCLA (310) fao.ucla.edu UC Merced (209) financialaid.ucmerced.edu UC Riverside (951) finaid.ucr.edu UC San Diego (858) fao.ucsd.edu UC Santa Barbara (805) finaid.ucsb.edu UC Santa Cruz (831) financialaid.ucsc.edu 6/22/

26 Thank You! 6/22/