Board of Governors may change financial aid policy
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RALEIGH--College students in need of financial aid might be impacted by changes to the UNC System's financial aid plan. The Board of Governors is considering altering its policy of setting aside a percentage of revenue for financial aid for students in need.
Board Chairman Peter Hans said many families have expressed frustrations over paying tuition increases that foot the bill for low-income students to attend college.
Right now, the board's four-year tuition plan calls for each college to set aside at least 25 percent of all new revenue from tuition hikes to help lower income students attend college.
UNC System President Tom Ross proposed changing the plan by removing the minimum requirement and cap the funds set aside for tuition at 25 percent.
"This is about our state's future and our university's future and we've got to do the right way and we're at a critical time," expressed Ross. "The demographic changes are significant in North Carolina and in the country and so we have to pay attention to that kind of information."
Some members of the board oppose putting limits on financial aid.
Hans said the board wants to provide more transparency, so families will know exactly where their tuition increase is going.
The board plans to consider Ross' proposal at its September meeting.