The University of Alaska distributes almost $100 million in student financial aid annually, with 60 percent of degree seeking students receiving some type of aid in 2007 ‐ 08. Student loans made up 68 percent of aid while grants accounted for only 32 percent. The recommend loan vs. grant split is 35 percent loan and 65 percent grant. While Alaska boasts very reasonable tuition rates, it is last in the nation for the amount of need ‐ based grant aid. This is one cause for Alaska students graduating with a higher ‐ than ‐ average debt load. Alaska ranks last (51st) in college ‐ enrollment for low ‐ income students, a position the state has held for 16 years.
Interesting facts:
o The University of Alaska internally appropriates 1%of tuition revenue for need ‐ based grants, awarding $832,000 in 2007 ‐ 08. ($1,000 per year, per student, available)
o Alaska Commission on Postsecondary Education (ACPE) Alaska Advantage Grant awarded UA students $624,500 in 2007 ‐ 08. Alaska, through ACPE, spent $38 per full ‐ time undergraduate student in state need ‐ based grant aid in 2007 ‐ 08. Western states average $466 per full ‐ time undergraduate and the nation averages $608 per undergraduate.
o Alaska has the fewest number of Pell recipients of any state; only the District of Columbia is lower.
o UA students are too dependent on federal loans and borrow too much. The average debt of Alaska students is $8,441 more than their counterparts in western states and $5,384 above the national average.
For more information on the state of grants and student aid at UA, please visit:
www.alaska.edu/state/advocacy/fin-aid/
For more information on financial aid at UA, please visit:
UAF Financial Aid
UAA Financial Aid
UAS Financial Aid
UA Foundation Statewide Scholarships
