University of Illinois at Urbana-Champaign

Transcription

1 January 18, 2018 University of Illinois at Urbana-Champaign Performance Metrics T U I T I O N A N D F E E S A N D F I N A N C I A L A I D U P D AT E S B Y: UNIVERSITY OFFICE FOR PLANNING AND BUDGETING DECEMBER 6, 2017 R E P O R T E D B Y: CHANCELLOR ROBERT J. JONES JANUARY 18, 2018

2 Peer Group University of Illinois at Urbana-Champaign* University of California - Berkeley* University of California - Los Angeles University of California - San Diego University of Michigan - Ann Arbor University of North Carolina - Chapel Hill** University of Texas - Austin University of Washington University of Wisconsin - Madison University of Virginia * No medical center. ** Medical center affiliated with the university, but owned by the state. Page 2

3 Tuition and Financial Aid Page 3

4 Full-Time First-Time Undergraduate In-State Tuition and Fees Per Academic Year AY 2012 AY 2017 $16,000 $14,000 $12,000 $10,000 $8,000 $14,522 $14,750 $15,020 $15,054 $15,058 $15,074 UIUC Peer 75th Percentile Peer Median Full-time first-time undergraduate tuition and fees at the University of Illinois at Urbana-Champaign are higher than the peer median. $6,000 Peer 25th Percentile $4,000 $2,000 $ Page 4

5 Percent Undergraduate Students Receiving Federal, State, or Local Institutional or Other Sources of Need or Merit Grant Aid: AY 2011 AY % 60% 50% 40% 30% 49% 49% 50% 51% 51% UIUC Peer 75th Percentile Peer Median The percent of undergraduate students at the University of Illinois at Urbana-Champaign who receive financial aid is similar to the peer median. 20% Peer 25th Percentile 10% 0% Page 5

6 Percent Undergraduate Students Receiving Pell Grants AY 2011 AY % 30% 25% 20% 15% 20% 20% 21% 20% 21% UIUC Peer 75th Percentile Peer Median University of Illinois at Urbana- Champaign has a lower percent of Pell grant recipients than its peer median. 10% Peer 25th Percentile 5% 0% Page 6

7 Percent Full-Time Undergraduates Awarded Any Need-Based Scholarship/Grant Aid Where Need Was Fully Met: AY 2012 AY 2016 (excludes PLUS loans, unsubsidized, and private alternative loans) 20% 18% 16% 14% 12% 10% 8% 12.6% UIUC Peer Median Compared to its peer median, a lower percentage of need-based aid recipients at the University of Illinois at Urbana-Champaign have their needs fully met. 6% 4% 2% 3.3% 5.0% 4.8% 5.1% 0% Page 7

8 Percent Need Met of Full-Time Undergraduates Awarded Any Need-Based Aid AY 2012 AY 2016 (excludes any aid awarded in excess of need as well as any that were awarded to replace EFC: PLUS, unsubsidized and private alternative loans) 100% 80% 60% 40% 63.0% 62.0% 64.0% 64.0% 65.0% UIUC Peer Median University of Illinois at Urbana- Champaign students who receive need-based aid have a lower percentage of their financial need met compared to the peer median. 20% 0% Page 8

9 Average Per Undergraduate-Borrower Cumulative Principal Borrowed AY 2012 AY 2016 (excludes any aid awarded in excess of need as well as any that were awarded to replace EFC: PLUS, unsubsidized and private alternative loans) $30,000 $25,000 $20,000 $24,657 $24,507 $23,808 $25,448 $25,222 UIUC The average debt of the University of Illinois at Urbana-Champaign students is higher than the peer median. $15,000 Peer Median $10,000 $5,000 $ Page 9

10 Percent Full-Time Undergraduates Paying Less Than $3,000 Per Semester Fall 2012 Fall 2016 (Includes all forms of financial aid and tuition waivers. Excludes loans and employment) 20% 15% 10% 13% 11% 16% 16% 15% 15% 10% 10% 10% 10% $0 $1 - $2,999 More than one-fourth of undergraduates at the University of Illinois at Urbana-Champaign pay less than $3,000 per semester for tuition. 5% 0% Page 10

11 Overview Page 11

12 Areas of Strength/Accomplishments Tuition growth has slowed. Grant aid from campus-managed funds has increased by $29M over the past five years. Average student debt is below the national and state rates. Loan default rate is very low (1.7%), indicating that our students get good jobs and are repaying their loans. 21% of our undergraduates are Pell eligible, and the Illinois Promise program continues to grow. These factors are helping our overall yield on admitted students. Page 12

13 Areas to Watch Potential federal changes o Federal tax reform and Reauthorization of the Higher Education Act could significantly impact students and make changes to the federal financial aid programs. State budget (both direct appropriations and MAP grants) o State funding is used for the President s Award Program, Illinois Promise, and need-based grants. o The Monetary Assistance Program (MAP) provides grant aid for lower-income students. Page 13