Financial aid has seen University students through four tuition increases since 2000, including this past year’s 5 percent increase.But with the state of the financial markets, University officials are worried state, donated and invested funds may be decreased in the near future.Mary Parker, executive director of Undergraduate Admissions and Student Aid, said financial aid, largely provided through operational cash the University has on hand, will be safe from dangerous fluctuations at least through the spring.But she said there is a concern about future effects of the economy on LSU Foundation’s accounts, which depend on interest generated from the investment of private donations.”There is certainly a concern on all of our parts as to what the earnings will be,” Parker said.Parker controls the disbursement of all awards paid for through the University’s operational cash as well as 85 awards funded by the interest earned on Foundation accounts, like the Skip Bertman Leadership award.Parker said she disburses every dollar she is allotted for student aid.”It’s been staying pretty steady, maybe increasing a little,” she said of the funds available for student awards.The University doled out $161,909,989 in financial aid, including loans and grants, for the 2006-2007 year — more than ever. The total also included federal and state awards.Robert Kuhn, vice provost for Fiscal Management and associate vice chancellor for Finance and Administrative Services, said not only are declines in private donations, returns on invested private funds as well as returns on tuition payments potential concerns for the University — but the state may also be tightening its budget in the next year.—-Contact Sarah Lawson at [email protected]
Financial aid unaffected by economy this year – 9:52 a.m.
December 2, 2008