The Digital Collegian - Published independently by students at Penn State
NEWS
[ Tuesday, Dec. 3, 2002 ]

Majority at PSU get financial aid

Collegian Staff Writer

Three in four students who attended Penn State in 2001-02 received some level of financial aid in their pursuit of a college degree, according to new university numbers.

The findings, compiled by the Office of Student Aid, show that more than 49,000 undergraduate students -- or about 76 percent -- at the University Park campus and Commonwealth Campuses received financial assistance during the last academic year. Of that portion of students, more than 25,500 University Park students received aid.

Overall, Penn State distributed $405 million to students, with the bulk of that money -- 68 percent -- coming from federal assistance programs such as Stafford loans, Pell grants and college work-study. Scholarships accounted for 13 percent.

University undergraduate scholarship spending has continued to climb during the past five years. In 1997-98, Penn State spent $19.8 million. The sum rose to $29.1 million in 2001-2002.

Anna Griswold, assistant vice provost for student aid, said a number of factors, including economic uncertainty and tuition increases, might have contributed to more students seeking financial aid.

Many administrators, encouraged by the increased interest in assistance programs, remain worried about the source of the aid.

Specifically, administrators cited the large frequency of Penn State students taking out loans that often strap students with significant financial debt after graduation. Last year, Penn State graduates incurred an average loan debt of $17,900 in their college careers.

"In scholarship programs, growth of about 43 percent over the ... five-year period signals progress in our efforts to increase scholarship support for our students," Griswold said. "The imbalance of funding in loans compared to grants and scholarships is an area of concern."

A report on the office's findings was presented Nov. 22 to the Penn State Board of Trustees. Tuition and its impact on financial aid and enrollment once again were the hot topics at the meeting.

Trustee Steve Garban expressed concern that high tuition costs immediately scare away potential students who are considering attending Penn State.

"We deliver as realistic a message as we can [to students and families]," Griswold said. "We're probably a couple years away from determining what degree tuition increases impact our enrollment."

This specific area of concern will continue to be at the forefront of administrators' minds, said John Romano, vice provost and dean for enrollment management.

"We've increased our focus in the information presented to students and families about what the costs are," he said, adding prospective students are provided informational packages on types of university-sponsored aid.

Trustee H. Jesse Arnelle said he is interested in whether Penn State identifies students who are the first in their family to attend college. This group, he said, traditionally tends to need financial assistance.

"I think our success in reaching out to historically underserved groups -- Hispanics, African Americans -- has been robust," Romano said.



GRAPHIC: Jaimie Confer
 



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