Monday, July 8, 2013

Paying for College and Financial Assistance

University of Maine at Augusta ©

The area chart above shows the relationship of the part(s) to the whole. The chart represents the cumulated total count of first-time degree-seekers by changes in value between students that had received financial aid vs. students that did not over-time. The information provided is part of the student characteristics table in the Student Learning Progress Model. 

The count of total first-time degree-seeking students has steadily increased over the last 15 years – from 1,166 in 1998 to 1,536 in 2012. During this period of time, UMA has also experienced an increase in the percentage of students that received financial aid – from 63% in 1998 to 82% in 2012. Specifically, over the last 5 years that proportion has increased from 69% (2008) to 82% (2012). 

In 2012, 82% or 1,260 first-time degree-seeking students received financial aid that included federal work study, loans to students (government and/or private), assistantships, scholarships, fellowships, tuition waivers, tuition discounts, employer aid (tuition reimbursement) and other monies (other than from relatives/friends) provided to meet educational expenses of attending UMA. 

The other 18% or 276 students met educational expenses by funding out-of-pocket and/or funding provided by a third party and not from UMA. 

With that said, UMA full-time undergraduate tuition and fees are substantially lower when compared to national averages based on the College Board’s Trends in College Pricing Report (see April 25, 2013 post). 

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