[Oasfaa] 2018-2019 Financial Aid Report

[Magee, Irala]

At their April 15, 2021 meeting, the annual financial aid report was presented to the Oklahoma State Regents for Higher Education.  The data used to generate this information was received from the individual state colleges and universities.  We sincerely thank each school for their diligent efforts to completely and accurately report financial aid disbursed to individual students each year.  Attached is the full report.

Highlights and Trends

  *   Since 2013-2014, the total amount of financial aid for undergraduate and graduate/professional students at state system institutions has grown gradually from $1.35 billion to $1.48 billion.  Undergraduate student aid, at about $1.18 billion, accounts for 80 percent of total student aid.
  *   Seven-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 2018-2019.
Type of Undergraduate Student Aid

$ Amount Change
2012-13 to 2018-19
(in $ millions)

Percent Change

Federal Grants (Pell)

-$31.5

-11.9%

State Grants and Scholarships

+$5.4

+6.6%

Institution  Aid (Tuition Waivers, Foundation, Other)

+$94.3

+45.7%

Tribal Grants

+$3.6

+15%

Other Outside Scholarships and Grants

+$8.0

+25%

Loans

-$23.7

-4.7%

Federal Work Study

-$1.3

-15.7%

Change in Total Undergraduate Student Aid

+$55.8

+4.9%



  *   Since 2013-2014, the percentage of undergraduate students who receive some form of financial aid has gradually increased from 70.0 percent to 72.7 percent.
  *   Over the past seven years, the total amount of undergraduate financial aid going to the research universities has increased by $141 million or 35 percent while the amount going to community colleges has decreased by $70 million or 22 percent.  The amount going to the regional universities decreased moderately by $15 million or 4 percent.
  *   Total annual undergraduate loan volume over the past seven years has declined by $24 million or 4.7 percent.  While federal subsidized/unsubsidized loans dropped by over $100 million or 24 percent, federal PLUS (parent) loans grew by $50 million or 93 percent.  Private loans also grew from $21 million to $51 million, an increase of $30 million or nearly 150 percent.
  *   By tier, undergraduate loan volume has dropped significantly at the community colleges (-$45 million or -35 percent) and the regional universities (-$30 million or -17 percent) while increasing at the research universities (+$51 million or +26 percent).
  *   Since 2012-2013, the percentage of undergraduate aid comprised of loans has declined from 44 percent to 40 percent; non-loan aid (grants, scholarships, work-study) increased from 56 percent to 60 percent.
  *   Nonresident students account for more than 28 percent of the total undergraduate student loan volume ($134 million of $477 million).  At the research universities, nonresident students account for 42 percent of the undergraduate student loan volume.
  *   Many low-income Pell Grant recipients also rely on student loans.  Fifty-two 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 ($211 million of $477 million, or 44 percent).
  *   Of the $298 million in graduate/professional student aid, over 70 percent was in the form of loans.
Irala K. Magee
Assistant Vice Chancellor for Scholarships and Grants
Oklahoma State Regents for Higher Education
P.O. Box 108850
Oklahoma City, OK  73101-8850
Phone: (405) 225-9378
Fax: (405) 225-9392

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