ASU’s commitment to student financial aid will continue
In a time of economic instability nationwide, university administration has assured students of its continued commitment to financial aid to assist them in funding their education.
ASU remains fully committed to its aid programs, particularly scholarship and grant programs. Student loan programs will continue uninterrupted also, according to Craig Fennell, executive director of student financial assistance.
Though some student loan providers have stopped making private student loans, ASU has good relationships with lenders and anticipates no changes in access or availability.
Federal loans account for about three-quarters of student borrowing. ASU participates in the federal Direct student loan program, which is provided directly by the U.S. Treasury. The government has said that money will flow uninterrupted by agreeing to buy those loans, even if fewer companies are in the business.
ASU President Michael Crow assured students in a videotaped message this week that they “are in one of the safest ports in a storm,” with federally guaranteed student loans, Pell grants and university financial aid.
The university will award more than $100 million in scholarships and grants this year, a substantial commitment to helping students succeed.
“These programs offer critically needed assistance in financing an ASU education,” says Fennell. “We will continue to offer substantial scholarships and grants next year and beyond.
“We also continue our investment in Arizona through the ASU Advantage program, a financial aid initiative for Arizona students from low-income backgrounds. This year 813 students are enrolled under the program.”
ASU also is committed to the tuition plan laid out last year in which current students experience a five percent increase in tuition. Incoming freshmen who join the university during the 2009-2010 academic year will pay more in tuition. Even with these increases, ASU still charges one of the lowest tuition rates in the PAC-10.
”We know that some students may need additional assistance due to a reduction or loss of income,” says Fennell. “We encourage students to contact the Student Financial Assistance Office for information on determining their eligibility for additional aid. Our staff is ready to help all students, whether they have already applied and have a change in circumstances or have not yet applied. It’s not too late to apply for financial aid for the current year.”