financial aid facts

• Despite the promise of economic growth, our state still faces a financial aid crisis. By design, we have experienced a marked increase in university attendance. At the same time, we have seen an increase in student financial need, overall student indebtedness and decreases in state funding for the universities.
• Tuition and fees are only part of the cost of an ASU education. In-state tuition is $9,208, while the total cost of attendance (including tuition, room, board, books, fees, etc.) for an undergraduate Arizona resident is now $22,926.
• The number of ASU undergraduate students eligible for federal Pell grants, an indication of student need, has increased dramatically — 181 percent since 2001. This means more students from families with limited financial resources are pursuing degrees at ASU.
• Many people believe federal and state funding provide most financial aid to students. In fact, ASU funded $203 million in institutional awards for need- and merit-based scholarships in 2011-12 — more than federal and state scholarships and grants combined.
• Among ASU’s undergraduates, 34,057 demonstrated financial need and were awarded aid. The average award was $11,413 in 2011-12.
• Despite one of the lowest tuition rates among our peer institutions, affording ASU is an issue for many of our students when 47 percent of Arizona’s children live in low-income homes and about 25 percent are in households with incomes of less than $25,000.
• Almost half of all financial aid awards come from student loans. Since 2007 tuition and fees have gone up 90 percent at Arizona’s three universities. The average ASU student debt at graduation is $20,000.