More than 90,000 students at Arizona’s three public universities receive financial aid, collecting almost $933 million last year in scholarships, grants and loans, according to an Arizona Board of Regents report.
More than half of undergraduate students end up in debt, though the total has been roughly flat, near $17,000, the last several years.
The $932.9 million is an increase of almost 18 percent over the previous year, according to the regents’ annual financial-aid report presented during the board’s meeting on the Northern Arizona University campus.

Still, the university system’s 37,916 students who demonstrated financial need had an average of 37 percent of their need unmet by financial aid.
“It’s frustrating in a way because they don’t factor in every cost that students pay,” said Erin Hertzog, University of Arizona student-body president. “We base our view of affordability on the actual tuition numbers, but that’s not what our overall cost is.”
The largest share of financial aid received by Arizona students is federal loans, which at $358.5 million represent 38 percent of the total. Federal scholarships and grants covered 7.8 percent, or $72.5 million of the total aid. With Arizona Financial Aid Trust Fund grants, state loans and other state aid, Arizona contributes 0.9 percent of the total financial support to students.
The state’s financial-aid trust is expected to double by next year, from $5.5 million to $11 million, said John Nametz, UA director of student financial aid. Students and university officials lobbying the Legislature for the increase was a major effort, he said.
“I’d like to think this is a new direction that’s happening in the state,” he said. The universities themselves contribute $135.3 million in institutional scholarships and grants, making 14.5 percent of the total. Tuition waivers from the regents account for $65.3 million, or 7 percent, of the total student support.
UA students received $313.1 million in aid, while counterparts at Arizona State University received $469.1 million and NAU students received $150.7 million.
About 52 percent of undergraduate students finish with debt, on average $17,173, up $112 from two years ago. Fewer graduate students finish with debt, at 48 percent, but the average they owe is $33,086, $1,134 more than two years ago.
“I’m encouraged the indebtedness hasn’t moved all that much despite all the pressures,” said Regent Robert Bulla, the board president.
Despite tuition increases of roughly 70 percent over three years, needy students haven’t had to pay more because the universities increased the amount of tuition revenue set aside for financial aid, a move Bulla said has relieved a lot of the lending pressure on students.

This entry was posted on Saturday, September 30th, 2006 at 5:09 pm and is filed under Financial Aid. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.