UMass Funds Fastest-growing Category of Student Financial Aid

Lots of hundred dollar bills
Wednesday, February 12, 2014

The University of Massachusetts expects this year to direct $148 million of its own funds toward financial aid for students, primarily in the form of grants, to maintain affordability and access and keep student debt manageable.

Institutional aid to UMass student is the fastest-growing category of financial aid, rising 7% over last year and 178% in the last decade, from $53 million to the estimated $148 million in fiscal year 2014. State and other sources of financial aid have remained relatively flat, according to a report provided to the UMass Board of Trustees' Committee on Administration and Finance.