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Student Financial Aid: A State and National Perspective

This document provides data and analysis on student financial aid programs in Louisiana, including information on TOPS awards, Go Grant eligibility, Pell Grants, and state grant aid. It offers a comprehensive overview of the current state of financial aid for students in Louisiana.

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Student Financial Aid: A State and National Perspective

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  1. Student Financial Aid:A State and National Perspective September 29, 2011

  2. Louisiana2011-2012 Appropriation

  3. TOPS Paid by School Type (Cumulative as of August 12, 2011) *Total TOPS Awards to students since inception, including 23,616 awards in Academic Year 1998-99, 29,240 in 1999-2000, 35,812 in 2000-2001, 40,941 in 2001-2002, 40,182 in 2002-2003, 41,125 in 2003-2004, 42,539 in 2004-2005, 42,599 in 2005-2006, 43,692 in 2006-2007, 42,239 in 2007-2008, 42,261 in 2008-2009, 43,046 in 2009-2010, and 43,475 in 2010-2011 as of August 12, 2011. **Includes TOPS Tech Early Start

  4. TOPS FundingBy State Fiscal Year as of 8/4/2011 The 2011-12 data is current appropriation subject to change if a constitutional amendment passes in October 2011.

  5. TOPS Academic Awards

  6. TOPS Technical Award

  7. The Number of High School Graduates, By Class Year, That Took the ACT, Qualified for TOPS OPH and Were Actually Awarded Total High School Graduates (Graduates of '97 and '98 Were First Awarded During Academic Year, 98-99) Graduates Completing ACT TOPS-Qualified Graduates (Excludes Graduates Qualifying for TOPS Tech, TOPS Teacher and Those Previously Awarded TAP and Honors Scholarships Who Were Continued Under TOPS) Actual Awards Billed by Institutions to date (Excludes Graduates Qualifying for TOPS Tech, TOPS Teacher and Those Previously Awarded TAP and Honors Scholarship Who Were Continued Under TOPS) * This is very preliminary data since billings for the Fall 2011 term are still being submitted by the schools.

  8. TOPS Eligibles by Award Level and High School Graduation Year Data as of 8/29/11 *The High School GPA requirement for the Honors and Performance Award changed from 3.5 to 3.0.

  9. TOPS Expenditures and Recipients As of October 30, 2009 $ in Millions Students Note: The 2011-12 Academic Year data shows the amount appropriated and projected to be expended for the year and the projected number of recipients.

  10. TOPS Recipients by Ethnicity and High School Graduation Year As of August 27, 2010 AWARDS High School Graduation Year

  11. 2011-12 Go Grant Eligibility • Apply by completing the FAFSA annually • Louisiana Resident as of the date the FAFSA is filed • Certificate, diploma or degree seeking undergraduate student at a Louisiana public or LAICU institution • Must receive a Pell Grant • Must have remaining financial need • Must maintain Satisfactory Academic Progress (SAP) as defined by the institution

  12. Go Grant Funding/Students

  13. Ethnicity of Go Grant Recipients

  14. 2010-2011 TOPS and GO Grant Comparison TOPS 43,288 Students $144,449,583 TOPS and Go Grant 9,906 Students $8,953,805 Go Grant $31,709,588 TOPS Go Grant 30,774 Students $25,120,516

  15. Federal Pell Grant Eligibility • Certificate, diploma or degree seeking undergraduate student attending public, private or proprietary (approved Title IV) Institution • Annually File the FAFSA and for AY 2011-12 must have an Expected Family Contribution of ($)5273 or less as determined by federal need analysis formula • Maintain Satisfactory Academic Progress (SAP) towards their credential (both qualitative and quantitative measures) to continue to receive award.

  16. Pell Grant Maximum Payment

  17. Pell Grants in Louisiana • 2009-10 Board of Regents Financial Aid Data • 32% of undergraduate students received some amount of Pell • Pell recipients were 49.9% Black, 38.2% White and 11.9% other/mixed race or did not report • Average Pell award was $3900 at LA Public Institutions • 2011-12 Pell Grant Maximum Award is $5500 • Average tuition and fees at 4 year Public LA University for 2011-12 is $4,915 • For 2011-12, two universities have tuition and fee amounts that will exceed maximum Pell

  18. State Grant Aid • Louisiana Grant Aid* per Estimated Population • 11th per total population ($36.08) • 16th per age 18-24 population ($339.46) • 9th per UG FTE in total grant aid ($883.04) • 36th per UG FTE in need based grant aid ($144.22) • National average is $455 • Highest is $1,125.42 (New Jersey) *Grant Aid is aid that is not repaid and can be either or both need based and/or merit based

  19. How Louisiana ComparesAcademic Year 2009-10 • Total all states’ expenditures on undergraduate aid programs • $9,722,273,000 • Grant Aid Categories: • 46.8% is Need only (9 states comprise 70% of this) • 16.3% is Need and Merit combination • 18.3% is Merit only • 12.0% is awarded for Special Purpose Programs (conditional grants, state work study, loan repayment, etc) • 23 states spend in excess of $100,000,000 for student aid programs • California was highest with $1,040,875,00 • Louisiana ranked 17th at $162,092,000

  20. How Louisiana ComparesAcademic Year 2009-10 • Total all states’ expenditures on need based only aid programs • $4,553,434,000 (46.8%) • New York was highest with $910,217,000 • Louisiana ranked 27th at $24,516,000 • Total all states’ expenditures on merit only aid programs • $1,779,177,000 (18.3%) • Georgia was highest with $453,951,000 • Louisiana ranked 5th at $129,992,000

  21. How Louisiana Compares • States with Merit-only Award Programs that comprise more than 50% of its aid dollars, where total aid dollars exceeds $100 Million (AY2009-10) TOTAL AID MERIT- STATE EXPENDITURE BASED AID • Louisiana $162.092 80.2%** • Tennessee* $338.685 70.3% • Georgia* $681.500 66.6% • Florida $663.456 63.8% • South Carolina $322.801 52.4% *Funded by state lottery revenues **Estimate is 85% for 2010-11

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