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 Act 1105 of 2003 – Regents to study/formulate tuition/fee policy

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

Tuition Rates 4-year Compared to Peer Rates Gaps range from -13.5% to -40.0%

Tuition Rates 2-year Compared to Peer Rates Gaps range from.5% to -19.2%

Student Financial Assistance

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

Appropriation

Aid based on Need Aid based on Need and Merit Aid based on Merit Special Purpose Financial Aid Comparisons (Based on NASSGAP Data)

Student Aid Sources Federal

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

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 Financial Aid Overview

Pell Grant Maximum Payment

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. Max Pell AwardNationSouthLouisiana 4-year Public

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

Student Aid Sources State

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

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

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

Financial Need 4 Yr College ( 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 $ $555 **$2000 GO Grant funds approximately 1/3 of unmet need, on average, at a 4 year public institution.

Financial Need 2 Yr Community College ( 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 $ $555 **$2000 GO Grant funds approximately ½ of unmet need, on average, at a 2 year community college.

Financial Need LA Technical College ( ) 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 $ $555 **$2000 GO Grant funds approximately ¾ of unmet need, on average, at the Louisiana Technical College.

Early Start Expenditures and Recipients As of August 4, 2011 Notes: (1) The 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 Academic Year data shows the amount appropriated and projected to be expended for the year and the projected number of recipients. $ in Millions Students

Financial Aid Research Project