Student Financial Assistance Increasing
USI
corporate and private
student aid funding is up 21 percent, and gift aid that includes grants and
scholarships is up 12 percent, the director of USI Student Financial
Assistance told the USI Board of Trustees during its regular November
meeting. Jim Patton's report covered 2002-03 student financial aid
activity.
Growth of financial assistance is a natural outcome of enrollment increases,
Patton said. USI has had three-percent increases in enrollment in the time
period 2001-02 and 2002-03.
Real growth among programs such as Pell Grants has not kept pace with
inflation, he noted.
The report shows commuter students find direct institutional costs
manageable with semester bills of $2,000 on average. However, students who
live on campus and take advantage of a food plan often have a greater
challenge, with direct costs averaging $4,700 per semester.
"Full-need" students often find they must take student loans to make ends
meet, the report says, and middle income families find that with less in
such programs as Pell Grants, they must borrow more than "full-need"
students.
Gift aid is an important investment in today's youth by University donors
and alumni. Today's students are grateful.
"Private funding makes a significant difference for students who need
assistance with the typical college costs. For many, this assistance goes
beyond the limitations of government-funded programs to open new doors,"
Patton said.
"It may make possible study abroad, permit students to accept unpaid
internships, or even allow full-time college attendance when it might not
otherwise be possible."
The increase in gift aid helps the University meet an important goal of cost
containment. H. Ray Hoops, USI president, said keeping tuition
affordable is a commitment the University has to all students.
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