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MPACT

MPACT. MPACT - Montana Partnering for Affordable College Tuition. The Situation. Nearly half of Montana high school graduates do not go on to higher education, and 15% go to college out of state.

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MPACT

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  1. MPACT MPACT - Montana Partnering for Affordable College Tuition

  2. The Situation • Nearly half of Montana high school graduates do not go on to higher education, and 15% go to college out of state. • Net cost of attendance at MUS campuses can lead to challenging debt loads for many Montana families (at or below median household income). • The annual number of Montana high school graduates will decline by at least 1,000 students over the next decade. MPACT - Montana Partnering for Affordable College Tuition

  3. The Situation • Direct Cost of Attendance at the University of Montana – Missoula (Mountain Campus) * • Tuition & Fees - $4,894 • Room & Board - 5,646 • Books & Supplies - 800 • $11,340 * Based on current costs. Excludes financial aid allowance for personal expenses. MPACT - Montana Partnering for Affordable College Tuition

  4. The Situation • Current Aid available for MT students with highest need • Pell Grant - $ 4,050 • Federal SEOG - $ 800 • College Work Study - $ 2,000 • $ 6,850 MPACT - Montana Partnering for Affordable College Tuition

  5. The Situation • Net Direct Cost of Attendance • Direct Cost - $11,340 • Less gift aid - ($6,850) • $4,490 MPACT - Montana Partnering for Affordable College Tuition

  6. The Challenge • Create a program to provide a more affordable college education opportunity to modest income level Montana high school graduates. • Evaluate the “Illinois Promise” and similar programs in North Carolina, Georgia, and other states. • But, tailor the program to better fit the goals and resources of The University of Montana, and the demographic and financial profiles of students and families in Montana. MPACT - Montana Partnering for Affordable College Tuition

  7. The Proposal • Montana • Partnering • for Affordable • College • Tuition MPACT MPACT - Montana Partnering for Affordable College Tuition

  8. The Proposal • MPACT • For new high school graduates • Dependent students with Pell Grant eligibility • (most Montana families up to median income) • Academically prepared students • (High school GPA ≥ 3.0 and ACT ≥ 25 - mountain campus) • (High school GPA ≥ 2.5 - COT) MPACT - Montana Partnering for Affordable College Tuition

  9. # Dependents In college # in Household Student Income Parent Income Student Assets Parent Assets EFC=Expected Family contribution • Federal computation determined from information provided on the Free Application for Federal Student Aid (FAFSA) Major factors affecting EFC MPACT - Montana Partnering for Affordable College Tuition

  10. EFC Examples MPACT - Montana Partnering for Affordable College Tuition

  11. MPACT * Expected Family Contribution – as defined by Federal financial aid guidelines MPACT - Montana Partnering for Affordable College Tuition

  12. MPACT • Net Direct Cost (after Pell, SEOG, work study) $4,490 • Less MPACTaward - ($2,000) • Student Obligation $2,490 * * A student’s obligation can be financed with guaranteed student loans or reduced by external funding. * $1,350 at the COT MPACT - Montana Partnering for Affordable College Tuition

  13. MPACT Methodology for Projecting Incremental Students MPACT - Montana Partnering for Affordable College Tuition

  14. MPACT 4 Year Projected Awards – Mountain Campus MPACT - Montana Partnering for Affordable College Tuition

  15. MPACT 4 Year Projected Awards – COT Campus MPACT - Montana Partnering for Affordable College Tuition

  16. MPACT Projection of 4 Year Cost – UM-Missoula MPACT - Montana Partnering for Affordable College Tuition

  17. MPACT Benefits • Addresses “tuition gap” for Montana families ≤ median income. • Mitigates declining pool of resident high school graduates. • Improves yield of students at upper range of academic profile. • Improves retention - preparedness and financial assistance. • Provides long-term incentive for academic achievement in K-12. MPACT - Montana Partnering for Affordable College Tuition

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