The FY 2019 request is $2 million for financial aid to Iowa students attending UNI.
UNI educates Iowans for Iowa. Nearly 90% of UNI students are from Iowa and 92% of those Iowa students stay in the state after they graduate to work or continue their education. In addition, approximately 50% of the non-residents who graduate from UNI stay in the state and contribute to our skilled workforce.
UNI is focused on providing high quality education while managing costs to students and taxpayers. The trend of UNI students taking less time to graduate and earn their degree continues for a fourth year in a row. Financial aid is critical to UNI students and their families. Over 92 percent of UNI students receive financial aid through loans, grants, scholarships and work study.
Breaking away from national trends in student borrowing, UNI has seen its average student loan indebtedness decrease by 13.1% over the past seven years, and 2.8% from 2016. UNI is $8,000 below the national average on student debt. UNI students rank second lowest in Iowa with the amount of student debt after graduation. The percentage of students with any debt at graduation has declined by 10% since academic year 2009-10 when UNI began seeing the positive results from its Live Like a Student program. UNI’s Live Like a Student was featured by the American Council on Education. The blog can be found at https://www.higheredtoday.org/2018/01/03/live-like-student-unis-financia....
This $2 million financial aid request corresponds with President Nook’s five-year conservative budget model outlined to the Regents Tuition Task Force in August 2017 so that tuition increases can be reasonable and predictable for Iowa families. Our tuition is near the median of our peers and above the median of competitors. UNI built a five-year budget model based on the university’s FY 08 budget. UNI will manage a slow and steady enrollment increase, continue to look for cost savings and efficiencies, and keep our expenses at the Consumer Price Index of 1.75 percent. Though our budget anticipates an increase in out-of-state enrollment, UNI will not back away from the commitment to enroll at least the same percentage of Iowa high school graduates who attend the university.
UNI is dedicated to being open and accessible to all students and financial aid is a key component to ensure it’s available to students and their families.