BY LESTER MONTS
Published January 25, 2010
To the Daily:
More like this
A recent editorial on financial aid overlooks the University’s long-standing promise to all undergraduates from Michigan (From the Daily: Aiding Diversity, 1/24/2010). The promise: Your full demonstrated financial need will be met.
Unfortunately, relatively few students from lower-income families apply to the University because they assume the University is academically or financially out of reach. Yet, the reality is, when they do apply, they are admitted at approximately the same rates as all other applicants.
The University encourages outstanding students from economically disadvantaged families to apply.
“Opportunity Adrift,” a recent report from The Education Trust group examining financial aid accessibility for minorities and low-income students, fails to distinguish between institutional support, which goes primarily to need-based awards, and financial aid provided by gift and endowment funds, which are privately supported.
In 2007-2008, the final year reported on in “Opportunity Adrift,” of the $28.1 million in centrally awarded need-based financial aid for Michigan residents attending the University, $23.6 million was allocated for students with family incomes below $60,000. No need-based grants were awarded to families with incomes of more than $70,000.
The University worked very hard during the last capital campaign to increase funding for student aid. Some of this fundraising, like the President’s Challenge, specifically was directed to need-based awards.
The report also failed to mention that the six-year graduation rate among the University’s underrepresented minority students is the best in the state and one of the best in the country.
In 2007-2008, that rate was 73.4 percent (compared to 88 percent overall, a “gap” of 14.6 percentage points). Just one year later, the underrepresented minority graduation rate rose to 79.9 (compared to 89.5 percent overall and a 9.6 percent gap).
The five percentage point decrease in the graduation gap in only one year reflects redoubled efforts across the board among faculty, staff and students to ensure the success of all our students.
Lester Monts
Senior Vice Provost for Academic Affairs
