[Oasfaa] 2016-2017 Annual Financial Aid Report

[Magee, Irala]

On January 24, 2019, the 2016-17 Annual Financial Aid Report was presented to the Oklahoma State Regents for Higher Education.  You can find the full report at: https://www.okhighered.org/studies-reports/financial-aid.shtml.  Some of the highlights include:


  *   In each of the past five years, total financial aid for undergraduate and graduate/professional students at state system institutions has remained relatively stable at between $1.35 billion and $1.42 billion.  Undergraduate student aid, at about $1.16 billion, accounts for 82 percent of total student aid.
  *   Five-Year Trends in Undergraduate Student Aid, by Type of Aid:  Following are the changes in amounts of undergraduate aid, by type of aid, for the period 2012-2013 to 2016-2017.
Type of Undergraduate Student Aid

$ Amount Change
2012-13 to 2016-17
(in $ millions)

Percent Change

Federal Grants (Pell)

-$40.4

-15.2%

State Grants and Scholarships

+$6.3

+7.7%

Institution  Aid (Tuition Waivers, Foundation, Other)

+$76.7

+37.2%

Tribal Grants

+$2.5

+10.7%

Other Outside Scholarships and Grants

+$4.0

+12.7%

Loans

-$18.5

-3.7%

Federal Work Study

-$0.05

-5.9%

Change in Total Undergraduate Student Aid

+$29.3

+2.6%



  *   While the total amount of undergraduate financial aid has remained at about $1.1 billion over the past five years, the proportion of that aid going to the research universities has increased by $93 million or 23 percent while the proportion going to community colleges has decreased by $55 million or 17 percent.  The amount going to the regional universities decreased moderately by $9 million or 2.3 percent.
  *   Over the past five years total undergraduate loan volume has declined by $18.5 million or 3.7 percent.  By tier, undergraduate loan volume has dropped significantly at the community colleges (-$30 million or -24 percent) and the regional universities (-$17 million or -10 percent) while increasing at the research universities (+$29 million or +15 percent).
  *   The percentage of undergraduate aid comprised of loans increased slightly from 41 percent in 2015-2016 to 42 percent in 2016-2017.   Conversely, non-loan aid (grants, scholarships, work-study) declined slightly from 59 percent to 58 percent.
  *   Nonresident students account for nearly 24 percent of the total undergraduate student loan volume ($117 million of $482 million).  At the research universities, nonresident students account for nearly 40 percent of the undergraduate student loan volume.
  *   Many low-income Pell Grant recipients also rely on student loans.  Fifty-three percent of Pell Grant recipients also take out student loans.  While Pell Grant recipients make up one-third of overall undergraduate enrollment, they account for almost half of the total undergraduate loan volume ($224 million of $482 million).
  *   Of the $263 million in graduate/professional student aid, over 69 percent was in the form of loans.
Irala K. Magee
Assistant Vice Chancellor for Scholarship and Grant Administration
Oklahoma State Regents for Higher Education
P.O. Box 108850
Oklahoma City, OK  73101-8850
(405) 225-9378
Fax (405) 225-9392


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