Keeping UC Affordable
A key question related to access for students, both undergraduate and graduate, is the affordability of the University. California typically has had a “boom and bust” cycle in which student fees remain flat or actually fall during good state budget years, followed by a period of substantially increasing student fees when the state budget hits difficult times. Student fees have had to increase as the state’s subsidy for higher education has fallen.
UC has worked, particularly in times of significant student fee increases, to also increase financial aid so that students are not denied an education due to their financial circumstances. At UC, the resources to fund a student’s education must come from students, parents, the University, the state government, and the federal government. Parental contributions, student work and loans, UC grants, and state and federal grants are all part of the equation. In all, UC students receive approximately $1.5 billion in financial aid each year.
UC students typically graduate with either what is considered to be manageable debt under the University’s financial aid structure (meaning loan payments requiring between 5% and 9% of starting salary) or no debt at all.
The picture is slightly different in terms of the work expectations of students. Most students work less than 20 hours per week while in school, though roughly 15% do work more. The University is seeking to better understand the causes of these high-work cases.
What other issues should we consider?