Meehan added that the university’s innovative efficiency and effectiveness efforts, which have saved $90 million across the five-campus UMass system since 2020, have been critical in keeping student costs down and growing financial aid. Others include early-college programs that provide students with a head start on earning college credits while still in high school, holding annual tuition increases well below inflation, and a new initiative (included in the governor’s recent budget proposal) to lock in undergraduate in-state tuition rates for four years. Meehan said growing financial aid is one piece of a larger effort to lower the financial barriers to a UMass education. All of the funding directly reduces the ‘sticker price’ for students. The $395 million in university-generated aid includes grants funded by university sources - nearly three times the amount of grant aid provided by the state and federal governments ($137 million). “As a driver of economic mobility for our students and the Commonwealth’s greatest single source of talent, this is our primary mission.” “Keeping a UMass education world-class and affordable is our highest priority,” UMass President Marty Meehan said. AMHERST - The University of Massachusetts awarded $395 million in university-generated financial aid across its five campuses this academic year - $22 million more than last year and $185 million more than a decade ago, with 81% of this aid going to Massachusetts residents, who comprise 73% of the 74,000-student UMass community.
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