UNC’s financial pledge
Monday, October 30th, 2006
By Chris Fitzsimon
Tuition cap must come with more aid for needy students
It’s fine to put a ceiling on how much tuition and fees can rise at state universities, as the UNC Board of Governors has done. That makes costs predictable. But it will not keep college in North Carolina affordable to all. That will take more state money for financial aid.
Two measures that are part of the newly approved tuition cap, if successful, may do more than the cap itself to keep college within reach of residents. Consider:
The UNC system, in its annual budget, plans to ask for enough additional money from the N.C. General Assembly to hold students eligible for the state’s need-based financial aid program harmless from cost increases. Those state funds are in addition to requiring that each campus set aside 25 percent of any tuition increase for financial aid.
UNC plans to review, by the end of this academic year, financial need (including student debt) and financial aid resources at each of the 16 campuses. If current resources are insufficient (as we’re betting they will be on almost every campus) revisions will be made.
Those steps sound routine, but their practical impact is not. 1. Financial aid for students will become a top legislative funding priority for universities. 2. For the first time, disparities in student need and financial aid resources among the campuses will be identified and placed on the table. (more…)
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