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State Regents Meeting June 29, 2005

Student Financial Aid Update 2004-05 Financial Aid Survey. State Regents Meeting June 29, 2005. Affordability Study. Beyond the 49 th Parallel II: The Affordability of University Education (Educational Policy Institute)

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State Regents Meeting June 29, 2005

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  1. Student Financial Aid Update 2004-05 Financial Aid Survey State Regents Meeting June 29, 2005

  2. Affordability Study • Beyond the 49th Parallel II: The Affordability of University Education (Educational Policy Institute) • Ranks Oklahoma #2 among the states in affordability of 4-year public college education • Measures income, cost of living, college costs, financial aid, and tax benefits. • “Equalizing force” of federal financial aid

  3. New Federal Grantsfor Pell Grant Recipients(available Fall 2006) • Academic Competitiveness Grants • SMART (Science and Mathematics Access to Retain Talent) Grant

  4. 2004-05Annual Student Financial Aid SurveyState System Institutions&Independent Universities

  5. Total Student Financial AidPublic & Private/Independent Total 2004-05 = $1.1 Billion Public$895 million Private/Ind.$241 million

  6. Total Student Financial AidPublic & Private/Independent Total 2004-05 = $1.1 Billion Grants/Schol.$453 million Loans$618 million Employment$65 million

  7. Loans, Pell, OTAG, OHLAP(in $ millions)

  8. Federal Pell Grant AwardsCompared to State College Costs(tuition, fees, room & board, books & supplies)

  9. % of Full-time Dependent Undergraduates Receiving Federal LoansBy Student’s Family Income Source: U.S.D.E, Nat. Cntr. for Education Statistics; “Condition of Education 2006”

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