UMass financial aid to students grew to $395 million this academic year
Last week, New England Council member, the University of Massachusetts, announced the contribution of $395 million to student financial aid this year, marking a $22 million raise from last academic year.
The president’s office released this annual figure on Tuesday, which represents an increase of $185 million from more than a decade ago. While the UMass system enrolled nearly 74,000 students this fall, the costs for UMass Amherst students this year was $33,120 for in-state students and $55,056 for those from outside Massachusetts; however, the average cost after financial aid is $22,038 for in-state students, according to the U.S. Department of Education. The president’s office stated that the aid comes largely from its own coffers, with $137 million from state and federal allotments.
“Keeping a UMass education world-class and affordable is our highest priority,” said UMass President Marty Meehan. “As a driver of economic mobility for our students and the Commonwealth’s greatest single source of talent, this is our primary mission.”
The New England Council commends UMass for its commitment to affordable education.
Read more from the Boston Business Journal and on the UMass website.