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Morehead State University's Commitment to Affordability and Supporting Low-Income Students

Learn how Morehead State University is addressing the needs of low-income students through financial counseling, scholarships, and cost control measures despite barriers such as reduced state appropriations and pension contributions.

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Morehead State University's Commitment to Affordability and Supporting Low-Income Students

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  1. House Appropriations and Revenue Committee, Budget Review Subcommittee on Postsecondary Education Presentation MOREHEAD STATE UNIVERSITY Dr. Jay Morgan, President February 14, 2019

  2. Morehead State University Service Region • Contains many of the most distressed counties in Kentucky • Approx. 110,000 regional residents live in poverty* • *U.S. Census Data

  3. 2018-2019 Morehead State University Revenue Budget

  4. Morehead State University Student Population – Fall 2018 Fall 2018 Enrollment 10,200 UG Degree-seeking Students from Kentucky 85% UG Degree-seeking Students from Service Region 63% Low Income Service Region UG Degree-Seeking Students 62% Dual Credit Early College (Eagle Scholars) 2,868 Average Federal Loan Debt (College Scorecard 2016-17) $24,000 Overall Retention Rate (Fall ‘17 to Fall ‘18)73.7% Low Income Retention Rate 69.5% URM Retention Rate 78.0%

  5. Morehead State University First-time, Full-time Undergraduate Students Grant Aid

  6. Low Income Students at Morehead State University • 53% of full-time, first-time degree-seeking students received a Pell grant. • 27% received a maximum Pell award of $6,095. • The average estimated family contribution was $1,082. (2017-18) • 2018-19 Tuition Costs (12 – 18 hrs.)$8,750 • Maximum Pell Award -$6,095 • Balance Remaining $2,655

  7. Low Income Students atMorehead State University Financial Counseling • In 2018-19, all first-time students are required to take a First Year Seminar class which includes a financial counseling component. • Students are required to complete entrance counseling prior to taking out a student loan. • Students are notified when it’s time to complete exit counseling. • Students are notified of current loan balances and estimated monthly payments each spring semester so that they can effectively plan for the upcoming year or graduation.

  8. Morehead State University Scholarships – Fall 2017 • Over 50% of full-time, first-time degree-seeking students received an institutional scholarship. • 7% of full-time, first-time degree-seeking students received an MSU Foundation Scholarship.

  9. Morehead State UniversityCommitment to Affordability • Controlling Costs for Students • Froze Tuition in 2018-19 - $8,750 • (2nd Lowest Annual Tuition Among Public 4-Year Universities) • Froze Housing Rates in 2018-2019 and 2019-2020 • Provided a Dual Credit Early College Program at a value of over $7.5 million • Committed approximately $24 million or 22% of E&G Budget to institutional financial aid for our students (Discount rate of 33%+/-) • Focused MSU Foundation fundraising campaign to increase support for student scholarships

  10. Morehead State UniversityCommitment to Affordability • Improving Institutional Cost Effectiveness and Productivity • Focused on improving and increasing transfer programs • Reduced personnel budget by over 12% ($9.7 million) in 2018-19 • Eliminated 13 high level administrative positions among others • Discontinued employer paid dental insurance program • Eliminated several academic programs • 2nd Lowest Average Faculty Salary of $60,266 • Razed seven buildings deemed as surplus to reduce cost of utilities, maintenance, and operating expenses • Reduced service maintenance contracts • Restructured debt resulting in reduced annual debt service payments

  11. Barriers to Meeting Needs of Low Income Students • Reduction of State Appropriations • Significant Increases in Required Pension Contributions • Loss of State Appropriations Due to Performance Funding Equalization

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