Supporting access at Arizona State University, particularly for resident first-year students, through differential institutional financial aid
Challenge
How might we fund and target differential institutional financial aid to help expand access for socioeconomically diverse students?
Strategy
The Board of Regents increased the minimum required percentage of revenue (from 14% to 17%) to be set aside for differential institutional financial aid as a crucial intervention to support and increase access at ASU, particularly for resident first-year students.
- ASU spends ~$250M a year on institutional financial aid as a crucial intervention to increase access
- Approx. $142M goes toward subsidizing tuition resident freshmen and to increase access to a more socioeconomically diverse base of students
Outcome
Reflecting its ongoing commitment to serve Arizona students and to increase access to a more socioeconomically diverse base, ASU has increased the amount of institutional financial aid to ~$250M/year, with approximately $142M spent on subsidizing tuition for resident first-year students. Specifically, ASU aspires to further increase institutional aid for this particular population from 67% to 75% subsidization of gross tuition and fees. In addition, ASU has set aside some funds for emergency “just-in-time” financial aid provided to a small number of students annually.
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Learn more about financial aid from our research
Institution
Enrollment
63,124
Pell Recipients
34%
Students of Color
47%
Net cost of Attendance
$31,449 (in-state)
