2012 Annual Report of the State-Supported Student Financial Aid Programs

Transcription

1 A Report to the Mississippi Legislature 2012 Annual Report of the StateSupported Student Financial Aid Programs July 1, 2011 through June 30, 2012 Board of Trustees of State Institutions of Higher Learning Mississippi Office of Student Financial Aid

2 Table of Contents Executive Summary 1 Mission 1 Funding for the Aid Year 1 Overview of Awards 1 Funding Disparities 1 Distribution of Aid by Institution Type 1 Distribution of Aid by Award Type 2 Distribution of Aid by Classification 2 Distribution of Loan/Scholarships by Classification 2 Distribution of Loan/Scholarships by Shortage Area 2 Distribution of Undergraduate Loan/Scholarships by Shortage Area 3 Distribution of Graduate Loan/Scholarships by Shortage Area 3 Management of Loan/Scholarships in Repayment 3 Closed Accounts 3 Revenue Collected 3 StateSupported Student Financial Aid Awards by Institution 4 StateSupported Award Recipients and Amounts by County 6 StateSupported Student Financial Aid Programs 7 Programs Funded through Alternate Sources 7 Summary Detail 9 5Year History of State Support and Other Funding 9 5Year History of Total Awards, Total Amounts, and Average Award Amounts 10 Funding Disparities 11 Awards and Amounts by Program by Institution Type 12 5Year History of Awards and Amounts by Program 14 Overview of Loan/Scholarship Accounts Under Management 18 5Year History of Loan/Scholarship Accounts Under Management 18 Accounts Under Management During the Fiscal Year 19 Principal Balance Outstanding at the Close of the Fiscal Year 19 Summary of Revenue Collected in Repayment During the Fiscal Year by Program 20 5Year History of Revenue Collected in Repayment During the Fiscal Year 20 Summary of Accounts Closed During the Fiscal Year 21 5Year History of Accounts Closed During the Fiscal Year 21 Summary of Accounts Under Management During the Fiscal Year by Cohort 22 5Year History of Default Rates by Program and Cohort 24 Undergraduate Grant Programs 25 Mississippi Resident Tuition Assistance Grant (MTAG) 25 Mississippi Eminent Scholars Grant (MESG) 29 Higher Education Legislative Plan for Needy Students (HELP) 33 Law Enforcement Officers and Firemen Scholarship (LAW) 37 Graduate Grant Programs 39 Public Management Graduate Internship Program (PMGT) 39 Table of Contents i

3 Undergraduate Loan/Scholarship Programs 41 Education 41 Critical Needs Alternate Route Teacher Loan/Scholarship (CNAR) 41 Critical Needs Teacher Loan/Scholarship (CNTP) 45 Mississippi Teacher Loan Repayment Program (MTLR) 49 William Winter Alternate Route Teacher Loan/Scholarship (WWAR) 53 William Winter Teacher Loan/Scholarship (WWTS) 57 Health Care 63 Nursing Education Loan/Scholarship Bachelor's (NELB) 63 Nursing Education Loan/Scholarship RN to BSN (NELR) 67 Undergraduate/Graduate Loan/Scholarship Programs 71 Health Care 71 Health Care Professions Loan/Scholarship Undergraduate and Graduate (HCP) 71 Graduate Loan/Scholarship Programs 75 Education 75 Counseling and School Administration Loan/Scholarship (CSA) 75 Graduate Teacher Loan/Scholarship (GTS) 79 SREB Doctoral Scholars Loan/Scholarship (SDSP) 83 Health Care 87 Nursing Education Loan/Scholarship Master's (NELM) 87 Nursing Education Loan/Scholarship Ph.D./DNP (NELP) 91 Nursing Teacher Stipend (NTSP) 95 State Dental Education Loan/Scholarship (DENT) 99 State Medical Education Loan/Scholarship (MED) 103 SREB Regional Contract Program Osteopathic Medicine and Optometry (SREB) 107 Graduate and Professional Degree Loan/Scholarship Chiropractic Medicine (STSC) 111 Veterinary Medicine Minority Loan/Scholarship (VMMP) 115 Inactive Loan/Scholarship Programs 119 AfricanAmerican Doctoral Teacher Loan/Scholarship (AADT) 119 Critical Area Teacher Education Loan/Scholarship (CATE) 120 Federal Insured Student Loan (FISL) 121 Family Medical Education Loan/Scholarship (FMEP) 122 Family Medicine Loan Repayment Program (FMLR) 123 Nursing Education Loan/Scholarship (NELS) 124 Paul Douglas Teacher Scholar Program (PDTS) 125 Regular MathScience Loan/Scholarship (RMS) 126 Summary of Inactive Loan/Scholarship Programs 127 Programs Funded through Alternate Sources 129 College Goal Sunday Awards (CGSA) 129 GEAR UP Mississippi Scholarship (GUMS) 130 Nissan Scholarship (NISS) 131 Summer Developmental Program Grant (SUMD) 132 Table of Contents ii

4 Executive Summary The Mississippi Office of Student Financial Aid (the Office) is the administering agency for all statefunded student financial aid programs. The Office also administers a number of other financial aid programs, which are funded through alternate sources. Mission The Office is guided by a twofold public service mission to provide financial assistance to students in pursuit of educational and professional goals and to help the state fulfill critical needs in specific service areas and achieve the goal of a more educated citizenry. The Office seeks to build public awareness of the diverse financial resources available through ongoing communication with individuals, colleges and universities, secondary schools, governing boards, legislators, communities, and other constituency groups. Funding for the Aid Year For the Aid Year, the Office received an appropriation of $26.9 million in general funds, but no money was available for carryover from the previous year, so the total available to the Office from state sources was $26.9 million, a decrease of $1.24 million or 4.40% from the previous year. The Legislature gave the Office authority to spend up to $2.18 million from other funds (Federal grants, investment interest income, collection revenues, etc.), up to $2.63 million from the Mississippi Critical Teacher Shortage fund, and $750,000 from the Ayers Settlement for a total of $5.56 million in alternate source funds, a decrease of $948,133 or 14.58% from the previous year. The total available to the Office for awards and administration was $32.4 million. This represents a decrease of $2.19 million or 6.31% from the previous year. Overview of Awards The Office awarded 27,298 awards, totaling $31,193,443 to students during the Aid Year. A total of 26,963 awards, totaling $29,925,164 was awarded to students through twentyfive (25) statesupported student financial aid programs. An additional $1,268,279 was awarded to students in 335 awards through four (4) award programs funded through alternate sources. Some students received assistance through more than one program. The average award for statesupported student financial aid programs for the Aid Year was $1,109.86, an increase of 14.22%. Funding Disparities Due to the availability of state support, some student financial aid programs cannot be fully funded each year. For such programs, money is awarded on a firstcome, firstserved basis until funds have been exhausted. For the Aid Year, all eligible applicants in all programs received funding. No funding disparity existed during the fiscal year. Distribution of Aid by Institution Type (StateSupported Programs Only) The Office awards financial aid to students at private and public fouryear colleges and universities and to students at public twoyear colleges. Aid is awarded to students attending outofstate institutions when the program of study is not available to the student in Mississippi. Mississippi also repays undergraduate student loans for teachers working in critical teacher shortage areas of the state. Institution Type Awards Amount 2% 2% 4Year Private 2,668 $ 3,732,335 12% 12% 4Year Public 16,273 $ 21,441,509 2Year Public 7,767 $ 3,570,142 OutofState 44 $ 576,299 Loan Servicers 211 $ 604,879 72% Totals 26,963 $ 29,925,164 Executive Summary 1

5 Executive Summary Distribution of Aid by Award Type (StateSupported Programs Only) Grants and loan/scholarships are the two primary forms of statesupported student financial aid. Grants are awards that do not have to be repaid. Loan/Scholarships are awards that may be repaid over time with interest or may be repaid with service. When repaid with service, such loans convert to an interestfree scholarship. Of all statesupported student financial aid awarded in the Aid Year, grants made up 74% and loan/scholarships made up the other 26%. Awards Amount 26% Grants 25,340 $ 22,197,261 Loan/Scholarships 1,623 $ 7,727,903 Totals 26,963 $ 29,925,164 74% Distribution of Aid by Classification (StateSupported Programs Only) The bulk (95%) of state student financial aid dollars is awarded to undergraduate students in the state's twoyear and fouryear postsecondary institutions. Only 5% of aid goes to graduate students. Nearly all graduate aid is awarded in the form of loan/scholarships. Awards Amount 5% Undergraduate 26,674 $ 28,351,919 Graduate 289 $ 1,573,245 Totals 26,963 $ 29,925,164 95% Distribution of Loan/Scholarships by Classification (StateSupported Programs Only) Nearly all grant aid is awarded to undergraduate students, but loan/scholarships are awarded to both undergraduate and graduate students. Undergraduate students receive 80% of loan/scholarships, while graduate students receive the remaining 20%. Awards Amount 20% Undergraduate 1,346 $ 6,188,658 Graduate 277 $ 1,539,245 Totals 1,623 $ 7,727,903 80% Distribution of Loan/Scholarships by Shortage Area (StateSupported Programs Only) Loan/scholarships are awarded to students majoring in the fields of education and healthrelated professions. Of all loan/scholarships awarded, 67% went to education majors and 33% went to students in healthrelated majors. Awards Amount Education 1,082 $ 5,173,045 33% Health 541 $ 2,554,858 Totals 1,623 $ 7,727,903 67% Executive Summary 2

6 Executive Summary Distribution of Undergraduate Loan/Scholarships by Shortage Area (StateSupported Programs Only) Students in education majors received 79% of loan/scholarship money awarded to undergraduates, and students in healthrelated majors received 21% of money awarded to undergraduates. Awards Amount 21% Education 956 $ 4,864,170 Health 390 $ 1,324,488 Totals 1,346 $ 6,188,658 79% Distribution of Graduate Loan/Scholarships by Shortage Area (StateSupported Programs Only) Students in healthrelated majors received 80% of loan/scholarship money awarded to graduates, and students in education majors received 20% of money awarded to graduates. Awards Amount 20% Education 126 $ 308,875 Health 151 $ 1,230,370 Totals 277 $ 1,539,245 80% Management of Loan/Scholarships in Repayment Statesupported loan/scholarship awards may be repaid through service or money. The Office works with ECSI, Inc. to manage accounts in repayment. If ECSI is unable to manage an account, the account is placed with a collection agency. During the Aid Year, ECSI managed 4,988 loan/scholarship accounts. At the close of the year, there was a total outstanding principal balance of $32.7 million. Current Accounts Principal Balance Outstanding In School/ Grace/ 0% Deferred 1,649 $ 12,807,819 28% Service 402 $ 4,561,278 39% Money 417 $ 3,272,316 Defaulted 9% Closed in FY 2012 Noncurrent 400 $ 3,055,077 Collection 1,154 $ 9,024,956 10% 14% Closed 966 $ Total 4,988 $ 32,721,444 Closed Accounts During the Aid Year, 966 loan/scholarship repayment accounts were closed. Of these accounts, 742 (77%) were closed through cancellation by service, death, or disability; 83 (9%) were repaid through a combination of money and cancellation, and 138 (14%) were repaid with money. The cumulative principal cancelled over the course of repayment for these accounts was $6.1 million (85% of the cumulative principal paid or cancelled). The cumulative principal paid over the course of repayment for these accounts was $1.1 million (15% of the cumulative principal paid or cancelled). Revenue Collected Revenue is collected in repayment of loan/scholarship accounts. During the Aid Year, $1.59 million was collected in repayment of principal, interest and fees. Executive Summary 3

7 Executive Summary StateSupported Student Financial Aid Awards by Institution 4Year Private 4Year Private Awards Amount Belhaven University 197 $ 235,105 Blue Mountain College 188 $ 282,740 Millsaps College 346 $ 432,819 Mississippi College 1,151 $ 1,531,143 Rust College 13 $ 16,067 Tougaloo College 106 $ 123,254 William Carey University 667 $ 1,111,207 2,668 $ 3,732,335 3% 0% 30% 6% 8% 41% 12% 4Year Public Awards Amount Alcorn State University 251 $ 422,710 Delta State University 672 $ 845,879 Jackson State University 490 $ 554,963 Mississippi State University 5,755 $ 7,176,475 Mississippi Univ. for Women 584 $ 813,160 Mississippi Valley State Univ. 83 $ 109,255 University of Mississippi 4,594 $ 5,878,084 Univ. of Miss. Medical Center 265 $ 756,155 Univ. of Southern Mississippi 3,579 $ 4,884,828 16,273 $ 21,441,509 4% 27% 23% 4Year Public 4% 2% 3% 4% 33% 0% 2Year Public Awards Amount Coahoma Community College 11 $ 3,925 CopiahLincoln Comm. Coll. 325 $ 148,250 East Central Community Coll. 269 $ 134,600 East Mississippi Comm. Coll. 365 $ 158,775 Hinds Community College 715 $ 315,950 Holmes Community College 503 $ 226,589 Itawamba Community Coll. 1,072 $ 500,455 Jones County Junior College 668 $ 319,775 Meridian Community College 447 $ 207,282 Mississippi Delta Comm. Coll. 166 $ 71,400 Miss. Gulf Coast CCJackson 319 $ 135,791 Miss. Gulf Coast CCJeff Davis 358 $ 167,039 Miss. Gulf Coast CCPerkinston 361 $ 174,234 Northeast Miss. Comm. Coll. 634 $ 311,493 Northwest Miss. Comm. Coll. 841 $ 371,725 Pearl River Community Coll. 483 $ 210,804 Southwest Miss. Comm. Coll. 230 $ 112,055 7,767 $ 3,570,142 9% 5% 5% 10% 4% 2% 2Year Public 0% 6% 3% 4% 6% 9% 4% 4% 9% 6% 14% Executive Summary 4

8 Executive Summary OutofState Awards Amount Edward Via VA Coll. Osteopathic 5 $ 71,500 Life Univ. of Chiropractic Med. 3 $ 31,536 Logan Coll. of Chiropractic Med. 1 $ 4,036 Nova SE Univ.Coll. Osteopathic 1 $ 7,150 Palmer College Chiropractic 2 $ 14,139 Parker College Chiropractic 1 $ 4,638 Southern College of Optometry 24 $ 343,200 Univ. of Alabama Birmingham 6 $ 85,800 U. of Houston Sch. of Optometry 1 $ 14, $ 576,299 3% OutofState 15% 12% 60% 5% 1% 1% 2% 1% Loan Servicers Awards Amount ACS New York 40 $ 116,550 American Education Services 18 $ 50,980 Chase Student Loan Servicing 1 $ 2,700 Citibank Student Loan Corp 2 $ 6,000 College Foundation, Inc. 2 $ 6,000 Edfinancial Services 12 $ 34,200 Granite State Management 1 $ 3,000 Great Lakes Borrower Services 10 $ 27,738 Iowa Student Loan Servicing 2 $ 3,500 MOHELA 11 $ 28,660 Nelnet 3 $ 8,500 Sallie Mae Servicing Corp 51 $ 149,550 Simmons First National Bank 1 $ 3,000 Student Access Found. of MT 1 $ 3,000 U.S. Dept. of Ed. Direct Loans 47 $ 137,500 U.S. Dept. of Ed. FedLoan Svc. 3 $ 9,000 U.S. Dept. of Ed. Nelnet 4 $ 9,002 Wells Fargo 2 $ 6, $ 604,879 Summary: Distribution of Aid by Institution Type 4Year Private 2,668 $ 3,732,335 4Year Public 16,273 $ 21,441,509 2Year Public 7,767 $ 3,570,142 OutofState 44 $ 576,299 Loan Servicers 211 $ 604,879 26,963 $ 29,925,164 0% 23% 0% 25% Loan Servicers 1% 1% 1% 1% 19% 5% 5% Distribution of Aid by Institution Type 2% 2% 12% 12% 72% 8% 6% 1% 0% 1% 1% 0% Executive Summary 5

9 Executive Summary StateSupported Award Recipients and Amounts by County The chart below shows the total number of award recipients and the total award amounts by county. Some students do not report their county of residence on the application; therefore, the counties for these students are unknown. County Number of Awards Total Award Amount County Number of Awards Total Award Amount Adams 151 $ 199,238 Lincoln 375 $ 455,696 Alcorn 284 $ 273,356 Lowndes 477 $ 555,389 Amite 69 $ 68,288 Madison 1410 $ 1,863,896 Attala 152 $ 214,596 Marion 161 $ 181,112 Benton 38 $ 65,300 Marshall 162 $ 251,091 Bolivar 208 $ 271,275 Monroe 359 $ 390,085 Calhoun 114 $ 127,286 Montgomery 96 $ 136,124 Carroll 95 $ 74,206 Neshoba 198 $ 240,433 Chickasaw 125 $ 176,076 Newton 182 $ 258,297 Choctaw 86 $ 111,215 Noxubee 39 $ 27,988 Claiborne 22 $ 16,100 Oktibbeha 423 $ 588,844 Clarke 150 $ 167,980 Panola 190 $ 255,923 Clay 141 $ 195,008 Pearl River 406 $ 452,089 Coahoma 132 $ 178,738 Perry 82 $ 82,394 Copiah 174 $ 209,495 Pike 285 $ 342,029 Covington 124 $ 168,704 Pontotoc 390 $ 450,582 Desoto 1471 $ 1,618,615 Prentiss 243 $ 330,616 Forrest 630 $ 936,532 Quitman 47 $ 82,712 Franklin 47 $ 63,670 Rankin 1634 $ 2,132,353 George 161 $ 185,362 Scott 161 $ 222,386 Greene 59 $ 90,961 Sharkey 24 $ 36,470 Grenada 188 $ 209,103 Simpson 142 $ 200,401 Hancock 354 $ 500,291 Smith 111 $ 146,697 Harrison 1453 $ 1,901,491 Stone 138 $ 142,363 Hinds 1887 $ 2,675,901 Sunflower 157 $ 197,516 Holmes 80 $ 117,282 Tallahatchie 43 $ 55,405 Humphreys 42 $ 76,891 Tate 225 $ 259,900 Issaquena 8 $ 6,000 Tippah 208 $ 282,358 Itawamba 255 $ 207,848 Tishomingo 159 $ 154,500 Jackson 1152 $ 1,363,292 Tunica 19 $ 26,035 Jasper 99 $ 139,074 Union 307 $ 385,147 Jefferson 26 $ 43,134 Walthall 71 $ 56,356 Jefferson Davis 44 $ 52,631 Warren 366 $ 529,383 Jones 462 $ 532,147 Washington 322 $ 406,117 Kemper 36 $ 63,910 Wayne 95 $ 94,029 Lafayette 431 $ 586,829 Webster 95 $ 80,613 Lamar 673 $ 811,186 Wilkinson 34 $ 48,676 Lauderdale 738 $ 869,320 Winston 144 $ 173,671 Lawrence 87 $ 98,103 Yalobusha 51 $ 55,644 Leake 100 $ 100,896 Yazoo 134 $ 165,478 Lee 917 $ 1,019,280 Out of State 10 $ 89,260 Leflore 172 $ 223,986 Unknown 9 $ 28,511 TOTALS 23,821 $ 29,925,164 Executive Summary 6

10 StateSupported Student Financial Aid Programs GRANTS Undergraduate Awards Total Amount Mississippi Resident Tuition Assistance Grant (MTAG) 22,490 $ 13,660,150 Mississippi Eminent Scholars Grant (MESG) 2,156 $ 5,132,949 Higher Education Legislative Plan for Needy Students (HELP) 652 $ 3,153,418 Law Enforcement Officers/Firemen Scholarship (LAW) 30 $ 216,744 Total Undergraduate Grants 25,328 $ 22,163,261 Graduate Public Management Graduate Intern (PMGT) 12 $ 34,000 Total Graduate Grants 12 $ 34,000 TOTAL GRANTS 25,340 $ 22,197,261 LOAN/SCHOLARSHIPS Undergraduate Critical Needs Alternate Route Teacher Loan/Scholarship (CNAR) 4 $ 52,956 Critical Needs Teacher Loan/Scholarship (CNTP) 170 $ 2,149,194 Mississippi Teacher Loan Repayment (MTLR) 211 $ 604,879 William Winter Alternate Route Teacher Loan/Scholarship (WWAR) 5 $ 18,000 William Winter Teacher Loan/Scholarship (WWTS) 566 $ 2,039,141 Nursing Education Loan/Scholarship Bachelor's (NELB) 319 $ 1,061,919 Nursing Education Loan/Scholarship RN to BSN (NELR) 69 $ 259,569 Health Care Professions Loan/Scholarship Undergraduate (HCP) 2 $ 3,000 Total Undergraduate Loan/Scholarships 1,346 $ 6,188,658 Graduate Counseling and School Administration Loan/Scholarship (CSA) 25 $ 60,875 Graduate Teacher Loan/Scholarship (GTS) 98 $ 173,000 SREB Doctoral Scholars (SDSP) 3 $ 75,000 Nursing Education Loan/Scholarship Masters (NELM) 68 $ 220,003 Nursing Education Loan/Scholarship Ph.D. (NELP) 9 $ 29,063 Nursing Teaching Stipend (NTSP) 14 $ 139,000 State Dental Education Loan/Scholarship (DENT) 7 $ 129,710 Health Care Professions Loan/Scholarship Graduate (HCP) 1 $ 3,000 State Medical Education Loan/Scholarship (MED) 7 $ 114,783 SREB Regional Contract Program (SREB) 37 $ 521,950 Graduate and Professional Degree Loan/Scholarship (STSC) 7 $ 54,349 Veterinary Medicine Minority Loan/Scholarship (VMMP) 1 $ 18,512 Total Graduate Loan/Scholarships 277 $ 1,539,245 TOTAL LOAN/SCHOLARSHIPS 1,623 $ 7,727,903 TOTAL FUNDED THROUGH STATESUPPORTED FUNDS 26,963 $ 29,925,164 Programs Funded through Alternate Sources Executive Summary College Goal Sunday Awards (CGSA) 37 $ 18,500 GEAR UP Mississippi Scholarship (GUMS) 96 $ 478,327 Nissan Scholarship (NISS) 4 $ 25,196 Summer Developmental Program Grant (SUMD) 198 $ 746,256 TOTAL FUNDED THROUGH ALTERNATE FUNDS 335 $ 1,268,279 TOTAL PROGRAMS ADMINISTERED BY SFA 27,298 $ 31,193,443 Executive Summary 7

11 Executive Summary 8

12 Summary Detail 5Year History of State Support and Other Funding State Support FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 General Funds $ 29,699,210 $ 30,199,810 $ 30,200,449 $ 26,915,820 $ 26,878,808 (Reduction) $ $ (1,509,991) $ (2,861,674) $ $ Health Care Expendable $ 177,563 $ 177,563 $ $ $ Carryover* $ 100, $ 100, $ 1,670,664 $ 1,200,000 $ Total State Support $ 29,976,773 $ 28,967,383 $ 29,009,439 $ 28,115,820 $ 26,878,808 OneYear Change (+/) $ 27,566 $ (1,009,391) $ 42,057 $ (893,619) $ (1,237,012) % OneYear Change (+/) 0.09% 3.37% 0.15% 3.08% 4.40% Alternate Sources Federal Funds (LEAP) $ 254,500 $ 253,778 $ 264,647 $ 286,315 $ Investments $ 358,467 $ 99,209 $ 81,096 $ 14,857 $ 25,196 Lumina Foundation $ $ $ $ $ 18,500 GEAR UP Mississippi $ $ $ $ $ 478,327 Other/Collections $ 2,156,100 $ 2,416,080 $ 2,423,324 $ 2,467,895 $ 1,654,863 Total General Collections $ 2,769,067 $ 2,769,067 $ 2,769,067 $ 2,769,067 $ 2,176,886 Critical Nds Collections $ $ $ $ 2,984,395 $ 2,628,443 Ayers Summer Devel. $ 500,000 $ 500,000 $ 750,000 $ 750,000 $ 750,000 Total Alternate Sources $ 3,269,067 $ 3,269,067 $ 3,519,067 $ 6,503,462 $ 5,555,329 OneYear Change (+/) $ $ $ 250,000 $ 2,984,395 $ (948,133) % OneYear Change (+/) 0.00% 0.00% 7.65% 84.81% 14.58% Total Available $ 33,245,840 $ 32,236,450 $ 32,528,506 $ 34,619,282 $ 32,434,137 OneYear Change (+/) $ 27,566 $ (1,009,391) $ 292,057 $ 2,090,776 $ (2,185,145) % OneYear Change (+/) 0.08% 3.04% 0.91% 6.43% 6.31% * Carryover Funds are often appropriated even in the absence of carryover funds. In FY 2008 and FY 2009, carryover funds were not available. In FY 2011, $923,225 of the $1,200,000 appropriate was available for use. $36,000,000 $34,000,000 $32,000,000 $30,000,000 $28,000,000 $26,000,000 $24,000,000 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Summary Detail 9

13 Summary Detail 5Year History of Total Awards, Total Amounts, and Average Award Amounts FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Total Award Amount $ 31,484,581 $ 28,635,587 $ 27,275,175 $ 27,689,625 $ 29,925,164 OneYear Change (+/) $ 380,441 $ (2,848,994) $ (1,360,412) $ 414,450 $ 2,235,539 % OneYear Change (+/) 1.22% 9.05% 4.75% 1.52% 8.07% Total Awards 31,628 31,634 28,070 28,301 26,963 OneYear Change (+/) , ,338 % OneYear Change (+/) 0.30% 0.02% 11.27% 0.82% 4.73% Average Award Amount $ $ $ $ $ 1, OneYear Change (+/) $ $ (90.25) $ $ 6.71 $ % OneYear Change (+/) 1.53% 9.07% 7.34% 0.69% 13.44% $32,000,000 34,000 32,000 $31,000,000 $30,000,000 30,000 28,000 26,000 24,000 22,000 $29,000,000 $28,000,000 20,000 18,000 16,000 14,000 12,000 $27,000,000 $26,000,000 10,000 8,000 6,000 4,000 $25,000,000 FY 2008 FY 2009 FY 2010 FY 2011 FY ,000 0 Total Award Amount Total Awards Average Award Amount Summary Detail 10

14 Summary Detail Funding Disparities Due to the availability of state support, in some years, some student financial aid programs cannot be fully funded. For programs that are not fully funded, money is awarded on a firstcome, firstserved basis until funds have been exhausted. The table below shows the total number of eligible applicants, the number of applicants who received awards, the calculated rate at which programs were funded, the average award amount, the number of eligible applicants not funded, and the resulting funding disparity. In FY , all programs were fully funded. Program Eligible Applicants Award Avg. Award Applicants Funding Applicants Awarded Rate Amount Unfunded Disparity Grants MTAG 22,490 22, % $ $ MESG 2,156 2, % $ 2,381 0 $ HELP % $ 4,837 0 $ LAW % $ 7,225 0 $ PMGT (Graduate) % $ 2,833 0 $ Total Grants 25,340 25, % $ $ Undergraduate Loan/Scholarships Education Programs CNAR % $ 13,239 0 $ CNTP % $ 12,642 0 $ MTLR % $ 2,867 0 $ WWAR % $ 3,600 0 $ WWTS % $ 3,603 0 $ Subtotal % $ 5,088 0 $ Health Care Programs NELB % $ 3,329 0 $ NELR % $ 3,762 0 $ HCPU % $ 1,500 0 $ Subtotal % $ 3,396 0 $ Total Undergrad Loan/Schols 26,686 26, % $ 4,598 0 $ Graduate Loan/Scholarships Education Programs CSA % $ 2,435 0 $ GTS % $ 1,765 0 $ SDSP % $ 25,000 0 $ Subtotal % $ 2,451 0 $ Health Care Programs NELM % $ 3,235 0 $ NELP % $ 3,229 0 $ NTSP % $ 9,929 0 $ DENT % $ 18,530 0 $ HCPG % $ 3,000 0 $ MED % $ 16,398 0 $ SREB % $ 14,107 0 $ STSC % $ 7,764 0 $ VMMP % $ 18,512 0 $ Subtotal % $ 8,148 0 $ Total Graduate Loan/Schols % $ 5,557 0 $ Total Loan/Schols 1,623 1, % $ 4,761 0 $ Summary Detail Grand Totals 26,963 26, % $ 1,110 0 $ 11

15 Summary Detail Awards and Amounts by Program by Institution Type Program OutofState or 2Year Public 4Year Public 4Year Private Name Loan Servicer All Programs Awards Amt. Awards Amt. Awards Amt. Awards Amt. Awards Amt. Undergrad. Grants MTAG 7,510 $ 3,055,875 12,978 $ 9,175,992 2,002 $ 1,428,283 0 $ 22,490 $ 13,660,150 MESG 121 $ 237,947 1,730 $ 4,167, $ 727,916 0 $ 2,156 $ 5,132,949 HELP 126 $ 252, $ 2,582, $ 319,084 0 $ 652 $ 3,153,418 LAW 10 $ 24, $ 192,730 0 $ 0 $ 30 $ 216,744 Subtotal 7,767 $ 3,570,142 15,193 $ 16,117,836 2,368 $ 2,475,283 0 $ 25,328 $ 22,163,261 Graduate Grants PMGT 0 $ 12 $ 34,000 0 $ 0 $ 12 $ 34,000 Subtotal 0 $ 12 $ 34,000 0 $ 0 $ 12 $ 34,000 Undergrad. Loan/ Schols. CNAR 0 $ 4 $ 52,956 0 $ 0 $ 4 $ 52,956 CNTP 0 $ 140 $ 1,759, $ 390,066 0 $ 170 $ 2,149,194 MTLR 0 $ 0 $ 0 $ 211 $ 604, $ 604,879 WWAR 0 $ 3 $ 10,000 2 $ 8,000 0 $ 5 $ 18,000 WWTS 0 $ 448 $ 1,616, $ 422,662 0 $ 566 $ 2,039,141 NELB 0 $ 256 $ 855, $ 206,002 0 $ 319 $ 1,061,919 NELR 0 $ 62 $ 238,125 7 $ 21,444 0 $ 69 $ 259,569 HCP U 0 $ 2 $ 3,000 0 $ 0 $ 2 $ 3,000 Subtotal 0 $ 915 $ 4,535, $ 1,048, $ 604,879 1,346 $ 6,188,658 Graduate Loan/ Schols. CSA 0 $ 13 $ 30, $ 30,375 0 $ 25 $ 60,875 GTS 0 $ 45 $ 78, $ 94,500 0 $ 98 $ 173,000 SDSP 0 $ 3 $ 75,000 0 $ 0 $ 3 $ 75,000 NELM 0 $ 58 $ 186, $ 34,003 0 $ 68 $ 220,003 NELP 0 $ 9 $ 29,063 0 $ 0 $ 9 $ 29,063 NTSP 0 $ 9 $ 89,000 5 $ 50,000 0 $ 14 $ 139,000 DENT 0 $ 7 $ 129,710 0 $ 0 $ 7 $ 129,710 HCPG 0 $ 1 $ 3,000 0 $ 0 $ 1 $ 3,000 MED 0 $ 7 $ 114,783 0 $ 0 $ 7 $ 114,783 SREB 0 $ 0 $ 0 $ 37 $ 521, $ 521,950 STSC 0 $ 0 $ 0 $ 7 $ 54,349 7 $ 54,349 VMMP 0 $ 1 $ 18,512 0 $ 0 $ 1 $ 18,512 Subtotal 0 $ 153 $ 754, $ 208, $ 576, $ 1,539,245 Totals 7,767 $ 3,570,142 16,273 $ 21,441,509 2,668 $ 3,732, $ 1,181,178 26,963 $ 29,925,164 Summary Detail 12

16 Summary Detail Awards and Amounts by Program by Institution Type Undergrad. Grants Awards Amount 2Year Public 7,767 $ 3,570,142 4Year Public 15,193 $ 16,117,836 4Year Private 2,368 $ 2,475,283 OutofState or Loan Servicer 0 $ Totals 25,328 $ 22,163,261 0% 11% 16% 73% 2Year Public 4Year Public 4Year Private OutofState or Loan Servicer Graduate Grants Awards Amount 2Year Public 0 $ 4Year Public 12 $ 34,000 4Year Private 0 $ OutofState or Loan Servicer 0 $ Totals 12 $ 34,000 0% 0% 100% 0% 2Year Public 4Year Public 4Year Private OutofState or Loan Servicer Undergrad. Loan/ Schols. Awards Amount 2Year Public 0 $ 4Year Public 915 $ 4,535,605 4Year Private 220 $ 1,048,174 OutofState or Loan Servicer 211 $ 604,879 Totals 1,346 $ 6,188,658 17% 10% 0% 73% 2Year Public 4Year Public 4Year Private OutofState or Loan Servicer Graduate Loan/ Schols. Awards Amount 2Year Public 0 $ 4Year Public 153 $ 754,068 4Year Private 80 $ 208,878 OutofState or Loan Servicer 44 $ 576,299 Totals 277 $ 1,539,245 37% 14% 0% 49% 2Year Public 4Year Public 4Year Private OutofState or Loan Servicer Summary Detail 13

17 Summary Detail 5Year History of Awards and Amounts by Program Undergraduate Grants FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 MTAG Amount Awarded $ 15,286,070 $ 15,689,129 $ 13,950,739 $ 13,979,693 $ 13,660,150 MTAG Number of Awards 25,896 26,838 23,227 23,297 22,490 MESG Amount Awarded $ 4,337,024 $ 4,568,470 $ 4,712,408 $ 4,810,293 $ 5,132,949 MESG Number of Awards 1,829 1,938 1,990 2,019 2,156 HELP Amount Awarded $ 1,753,252 $ 1,481,350 $ 1,265,238 $ 1,528,257 $ 3,153,418 HELP Number of Awards LAW Amount Awarded $ 107,590 $ 95,757 $ 93,831 $ 178,706 $ 178,706 LAW Number of Awards $16,000,000 $15,500,000 $15,000,000 $14,500,000 $14,000,000 $13,500,000 $13,000,000 $12,500,000 FY 2008 FY 2009 FY 2010 FY 2011 FY ,000 27,000 26,000 25,000 24,000 23,000 22,000 21,000 20,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $ FY 2008 FY 2009 FY 2010 FY 2011 FY ,500 2,000 1,500 1, Graduate Grants FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 PMGT Amount Awarded $ 18,100 $ 32,120 $ $ 19,200 $ 34,000 PMGT Number of Awards $40,000 $30,000 $20,000 $10,000 $ FY 2008 FY 2009 FY 2010 FY 2011 FY Summary Detail 14

18 Summary Detail Undergraduate Loan/Scholarships Education FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 CNAR Amount Awarded $ 64,815 $ 56,243 $ 30,720 $ 32,552 $ 52,956 CNAR Number of Awards CNTP Amount Awarded $ 2,350,705 $ 2,339,072 $ 2,266,677 $ 1,841,733 $ 2,149,194 CNTP Number of Awards MTLR Amount Awarded $ 284,000 $ 292,375 $ 415,500 $ 447,145 $ 604,879 MTLR Number of Awards WWAR Amount Awarded $ 4,000 $ 2,000 $ 2,000 $ $ 18,000 WWAR Number of Awards WWTS Amount Awarded $ 1,921,658 $ 1,240,328 $ 1,598,325 $ 1,620,334 $ 2,039,141 WWTS Number of Awards $2,500, $2,000,000 $1,500,000 $1,000,000 $500,000 $ FY 2008 FY 2009 FY 2010 FY 2011 FY Health Care NELB Amount Awarded $ 1,375,919 $ 702,295 $ 538,834 $ 763,403 $ 1,061,919 NELB Number of Awards NELR Amount Awarded $ 159,890 $ 85,222 $ 122,666 $ 127,999 $ 259,569 X NELR Number of Awards HCPU Amount Awarded $ 1,500 $ 1,500 $ $ 1,500 $ 3,000 HCPU Number of Awards $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $ FY 2008 FY 2009 FY 2010 FY 2011 FY Summary Detail 15

19 Summary Detail Graduate Loan/Scholarships Education FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 CSA Amount Awarded $ 205,250 $ 62,250 $ 59,625 $ 87,875 $ 60,875 CSA Number of Awards GTS Amount Awarded $ 648,125 $ 196,250 $ 217,250 $ 148,500 $ 173,000 GTS Number of Awards SDSP Amount Awarded $ 120,000 $ 80,000 $ 40,000 $ 50,000 $ 75,000 SDSP Number of Awards $700, $600,000 $500,000 $400,000 $300,000 $200,000 $100, $ 0 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Health Care Nursing FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 NELM Amount Awarded $ 376,001 $ 115,040 $ 170,441 $ 207,749 $ 220,003 NELM Number of Awards NELP Amount Awarded $ 50,750 $ 17,500 $ 12,500 $ 32,500 $ 29,063 + NELP Number of Awards NTSP Amount Awarded $ 130,000 $ 21,000 $ 69,000 $ 80,000 $ 139,000 NTSP Number of Awards $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $ FY 2008 FY 2009 FY 2010 FY 2011 FY Summary Detail 16

20 Summary Detail Health Care Other FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 DENT Amount Awarded $ 72,240 $ 46,120 $ 98,210 $ 49,590 $ 129,710 X DENT Number of Awards HCPG Amount Awarded $ 6,000 $ 3,000 $ $ $ 3,000 HCPG Number of Awards MED Amount Awarded $ 106,139 $ 58,245 $ 95,543 $ 93,894 $ 114,783 MED Number of Awards STSC Amount Awarded $ 46,925 $ 41,512 $ 55,336 $ 84,902 $ 54,349 STSC Number of Awards SREB Amount Awarded $ 471,600 $ 432,300 $ 525,400 $ 553,200 $ 521,950 + SREB Number of Awards VMMP Amount Awarded $ $ $ 6,000 $ $ 18,512 VMMP Number of Awards $600, $500, $400, $300, $200, $100, $ FY 2008 FY 2009 FY 2010 FY 2011 FY Summary Detail 17

21 Summary Detail Overview of Loan/Scholarship Accounts Under Management Statesupported loan/scholarship awards may be repaid through service or money. Below is a summary list of the status of all accounts being managed during the Aid Year. ECSI manages repayment accounts on behalf of the state. Most accounts enter a grace period once a student separates from school. Repayment can be deferred for reasons of medical disability, military duty, bankruptcy, and sometimes to continue education. Current accounts are those with no principal or interest past due. Noncurrent accounts are past due. If ECSI is unable to service an account, the account is placed with a collection agency. Noncurrent and collection accounts are not eligible for service repayment. Accounts may be closed as "Paid in Full", "Service Complete", or a combination. Accounts may also be closed for reasons of total and permanent disability or death. 5Year History of Loan/Scholarship Accounts Under Management Accounts under Management FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Current 4,052 1,871 2,293 2,296 2,468 Defaulted 1,607 1,353 1,716 1,748 1,554 Closed During the Fiscal Year N/A 1,510 1, Total 5,659 4,734 5,275 5,028 4,988 Principal Balance Outstanding FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Current $ 27,572,538 $ 19,793,251 $ 16,773,974 $ 19,074,810 $ 20,641,412 Defaulted $ 11,528,071 $ 9,625,630 $ 12,819,750 $ 13,188,554 $ 12,080,032 Closed During the Fiscal Year N/A $ $ $ $ Total $ 39,100,609 $ 29,418,881 $ 29,593,724 $ 32,263,364 $ 32,721,444 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $ 20% 23% 8% 5,659 4,734 5,275 5,028 4,988 FY 2008 FY 2009 FY 2010 FY 2011 FY % 33% 8% Principal Balance Outstanding School, Grace, or Deferred Current Service Current Money NonCurrent Collection Accounts under Management 9% 28% 10% 0% 14% 39% 5,800 5,600 5,400 5,200 5,000 4,800 4,600 4,400 4,200 School, Grace, or Deferred Current Service Current Money NonCurrent Collection Closed in FY 12 Closed in FY 12 Accounts Managed During FY 2012 Principal Balance Outstanding at the Close of FY 2012 Summary Detail 18

22 Summary of Accounts Managed During the Fiscal Year Current Defaulted Closed Program School, Grace, or Deferred Current Service Current Money NonCurrent Collection Closed in FY 12 Total CNAR CNTP ,239 WWAR WWTS ,900 NELB NELR HCPU/G CSA GTS SDSP NELM NELP NTSP DENT MED SREB STSC VMMP Inactive Totals 1, , ,988 % of Total 33% 8% 8% 8% 23% 19% 100% Summary of Principal Balance Outstanding at the Close of the Fiscal Year Current Defaulted Closed Program School, Grace, or Deferred Current Service Current Money NonCurrent Collection Closed in FY 12 Total CNAR $ 66,104 $ 12,288 $ 27,328 $ $ 45,711 $ $ 151,431 CNTP $ 3,677,296 $ 1,485,732 $ 1,520,799 $ 1,900,155 $ 5,886,256 $ $ 14,470,238 WWAR $ 18,000 $ $ $ 1,517 $ $ $ 19,517 WWTS $ 2,891,445 $ 931,790 $ 622,610 $ 449,600 $ 1,419,291 $ $ 6,314,736 NELB $ 1,492,805 $ 281,283 $ 188,266 $ 24,884 $ 178,441 $ $ 2,165,678 NELR $ 284,872 $ 35,000 $ 23,176 $ 1,790 $ 38,130 $ $ 382,967 HCPU/G $ 7,500 $ 3,000 $ 1,736 $ 4,336 $ 10,636 $ $ 27,208 CSA $ 123,500 $ 3,750 $ 7,027 $ $ 14,219 $ $ 148,496 GTS $ 247,950 $ 35,250 $ 9,625 $ 26,375 $ 34,183 $ $ 353,383 SDSP $ 473,333 $ 199,000 $ 60,000 $ 51,000 $ 310,099 $ $ 1,093,432 NELM $ 295,144 $ 100,070 $ 50,000 $ 5,026 $ 33,072 $ $ 483,312 NELP $ 113,125 $ $ 26,072 $ $ 10,000 $ $ 149,197 NTSP $ 291,354 $ 32,871 $ 121,000 $ 23,000 $ 94,446 $ $ 562,671 DENT $ 224,905 $ 75,695 $ 99,668 $ 22,026 $ 4,000 $ $ 426,294 MED $ 361,132 $ 66,532 $ 156,027 $ 162,002 $ 239,212 $ $ 984,905 SREB $ 1,664,850 $ 498,100 $ 311,956 $ 15,425 $ 120,603 $ $ 2,610,933 STSC $ 172,887 $ 127,071 $ 36,982 $ 181,444 $ 215,850 $ $ 734,235 VMMP $ 24,512 $ $ $ 17,754 $ $ $ 42,266 Inactive $ 377,104 $ 673,846 $ 10,045 $ 168,742 $ 370,807 $ $ 1,600,544 Totals $ 12,807,819 $ 4,561,278 $ 3,272,316 $ 3,055,077 $ 9,024,956 $ $ 32,721,444 % of Total 39% 14% 10% 9% 28% 0% 100% Summary Detail 19

23 Summary Detail Summary of Revenue Collected in Repayment During the Fiscal Year Program Principal Interest Fees Refunds Total CNAR $ 1,871 $ 1,588 $ $ $ 3,459 CNTP $ 378,881 $ 198,894 $ 61,230 $ $ 639,004 WWAR $ 483 $ 132 $ $ $ 616 WWTS $ 333,589 $ 60,907 $ 26,287 $ $ 420,783 NELB $ 96,167 $ 8,881 $ 1,718 $ $ 106,766 NELR $ 19,719 $ 2,060 $ 637 $ (98) $ 22,318 HCPU/G $ 3,116 $ 696 $ 376 $ $ 4,188 CSA $ 1,311 $ 10 $ 696 $ $ 2,017 GTS $ 8,975 $ 1,085 $ 793 $ (237) $ 10,616 SDSP $ 107 $ 1,693 $ 8,055 $ $ 9,855 NELM $ 25,253 $ 2,475 $ 283 $ $ 28,010 NELP $ 6,358 $ 513 $ 15 $ $ 6,886 NTSP $ 25,516 $ 3,649 $ 1,596 $ $ 30,761 DENT $ 42,992 $ 5,688 $ 132 $ $ 48,811 MED $ 33,125 $ 11,239 $ 1,060 $ $ 45,424 SREB $ 121,823 $ 19,457 $ 1,480 $ $ 142,759 STSC $ 20,155 $ 8,901 $ 3,004 $ $ 32,060 VMMP $ 4,259 $ 1,375 $ $ $ 5,634 Inactive Programs $ 18,725 $ 10,159 $ 3,619 $ (113) $ 32,389 Totals $ 1,142,425 $ 339,399 $ 110,979 $ (447) $ 1,592,356 5Year History of Revenue Collected in Repayment During the Fiscal Year FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Total Revenue Collected $ 2,170,659 $ 2,058,793 $ 1,617,737 $ 1,665,189 $ 1,592,356 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $ FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Summary Detail 20

24 Summary Detail Summary of Accounts Closed During the Fiscal Year Following is a summary of the accounts that were closed during the fiscal year. The cumulative principal cancelled represents all principal cancelled for reasons of service completion, disability, or death over the life of the account, not just during the current fiscal year. Likewise, cumulative principal paid, cumulative interest paid, and cumulative paid represent amounts paid over the life of the account. Program Service/ Cancellation Service/ Cancellation and Money Money Total Cumulative Principal Cancelled Cumulative Principal Paid Cumulative Interest Paid Cumulative Paid on Accounts CNAR $ 12,830 $ $ $ CNTP $ 2,163,024 $ 226,372 $ 41,048 $ 267,420 WWAR $ $ $ $ WWTS $ 1,905,898 $ 325,096 $ 49,983 $ 375,079 NELB $ 676,834 $ 104,330 $ 8,705 $ 113,035 NELR $ 110,221 $ 12,000 $ 776 $ 12,776 HCPU/G $ $ $ $ CSA $ 44,376 $ 249 $ 11 $ 260 GTS $ 177,292 $ 16,083 $ 21 $ 16,105 SDSP $ 71,000 $ $ $ NELM $ 181,805 $ 32,418 $ 2,566 $ 34,983 NELP $ 35,000 $ 2,500 $ $ 2,500 NTSP $ 99,000 $ 15,000 $ 1,621 $ 16,621 DENT $ 14,466 $ 72,684 $ 17,484 $ 90,168 MED $ $ 97,213 $ 14,042 $ 111,255 SREB $ 551,240 $ 120,160 $ 13,237 $ 133,397 STSC $ 20,003 $ 7,221 $ 1,017 $ 8,238 VMMP $ $ $ $ Inactive $ 39,673 $ 25,958 $ 4,374 $ 30,332 Totals $ 6,102,662 $ 1,057,285 $ 154,886 $ 1,212,170 Accounts Closed During the Fiscal Year Cumulative Principal Paid or Cancelled 9% 14% 15% 77% 85% Service/Cancellation Service/Cancellation and Money Money 5Year History of Accounts Closed During the Fiscal Year Cumulative Principal Cancelled Cumulative Principal Paid FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Service/Cancellation N/A 1,217 1, Service and Money N/A Money N/A Cumulative Principal Cancelled N/A $ 7,747,015 $ 7,447,001 $ 6,696,829 $ 6,102,662 Cumulative Principal Paid N/A $ 1,511,520 $ 1,085,490 $ 1,125,846 $ 1,057,285 Cumulative Interest Paid N/A $ 145,276 $ 128,977 $ 170,848 $ 154,886 Summary Detail 21

25 Summary Detail Summary of Accounts under Management During the Fiscal Year by Cohort Program CNAR CNTP WWAR WWTS NELB NELR HCPU/G CSA GTS Untracked Cohorts All Managed Accts. 12 1, , Totals of All Accounts Ever Awarded by Tracked Cohorts FY 9901 N/A 853 N/A 594 N/A N/A 41 N/A N/A FY 2002 N/A 1 N/A 2 N/A N/A 0 N/A N/A FY 2003 N/A 174 N/A 208 N/A N/A 8 N/A N/A FY 2004 N/A 84 N/A 295 N/A N/A 11 N/A N/A FY 2005 N/A 113 N/A 310 N/A N/A 6 N/A N/A FY FY FY FY FY FY FY TOTAL 19 2, ,715 1, Totals of In Default Accounts by Tracked Cohorts FY 9901 N/A 459 N/A 161 N/A N/A 4 N/A N/A FY 2002 N/A 0 N/A 0 N/A N/A 0 N/A N/A FY 2003 N/A 74 N/A 47 N/A N/A 1 N/A N/A FY 2004 N/A 14 N/A 12 N/A N/A 1 N/A N/A FY 2005 N/A 25 N/A 24 N/A N/A 2 N/A N/A FY FY FY FY FY FY FY TOTAL Default Rates (In Default Accounts in Tracked Cohorts/All Accounts in Tracked Cohorts) FY 9901 N/A 54% N/A 27% N/A N/A 10% N/A N/A FY 2002 N/A 0% N/A 0% N/A N/A N/A N/A N/A FY 2003 N/A 43% N/A 23% N/A N/A 13% N/A N/A FY 2004 N/A 17% N/A 4% N/A N/A 9% N/A N/A FY 2005 N/A 22% N/A 8% N/A N/A 33% N/A N/A FY % 21% N/A 5% 6% 0% 17% 2% 1% FY % 14% 0% 8% 7% 8% 50% 0% 0% FY % 21% 0% 14% 9% 14% 50% 2% 2% FY % 17% N/A 8% 4% 15% N/A N/A N/A FY % 13% 100% 8% 4% 9% N/A 4% 7% FY % 1% N/A 1% 1% 0% 0% 0% 0% FY % 0% 0% 0% 0% 0% 0% 0% 0% OVERALL 16% 33% 11% 10% 5% 7% 14% 1% 2% Summary Detail 22

26 Summary Detail Summary of Accounts under Management During the Fiscal Year by Cohort SDSP NELM NELP NTSP DENT MED SREB STSC VMMP INACTIVE TOTAL ,988 Totals of All Accounts Ever Awarded by Tracked Cohorts 24 N/A N/A N/A 1,614 0 N/A N/A N/A 15 4 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1, N/A 1, N/A 1, N/A N/A N/A N/A ,308 Totals of In Default Accounts by Tracked Cohorts 6 N/A N/A N/A N/A N/A N/A 0 2 N/A N/A N/A N/A N/A N/A 34 0 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A ,223 Default Rates (In Default Accounts in Tracked Cohorts/All Accounts in Tracked Cohorts) 25% N/A N/A 8% 0% 3% 0% 21% 0% N/A 39% N/A N/A N/A 0% N/A N/A 0% N/A N/A N/A 0% 50% N/A N/A 0% 0% 0% 8% 25% 100% N/A 30% 17% N/A N/A 16% 0% N/A 10% 25% N/A N/A 8% 0% N/A N/A 22% 17% 0% 0% 38% 0% N/A 12% 0% 0% 0% 13% 0% 0% 10% 25% N/A N/A 6% 0% 7% 20% 6% 0% 0% 0% 14% N/A N/A 7% 0% 7% 0% 10% 0% 0% 0% 0% N/A N/A 10% N/A N/A N/A 0% N/A N/A 0% N/A N/A N/A 11% N/A 0% 0% 0% 0% 0% 0% 0% 0% N/A 7% 0% 0% 0% 0% N/A 0% 0% 17% N/A N/A 1% N/A 0% 0% 0% 0% 0% 0% 0% 0% N/A 0% 20% 3% 3% 8% 2% 2% 2% 21% 20% N/A 13% Summary Detail 23

27 Summary Detail 5Year History of Default Rates by Program and Cohort Default Rates by Program FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 CNAR N/A N/A N/A 19% 16% CNTP N/A N/A N/A 37% 33% WWAR N/A N/A N/A 25% 11% WWTS N/A N/A N/A 13% 10% NELB N/A N/A N/A 7% 5% NELR N/A N/A N/A 10% 7% HCPU/G N/A N/A N/A 16% 14% CSA N/A N/A N/A 0% 1% GTS N/A N/A N/A 2% 2% SDSP N/A N/A N/A 22% 20% NELM N/A N/A N/A 6% 3% NELP N/A N/A N/A 4% 3% NTSP N/A N/A N/A 10% 8% DENT N/A N/A N/A 4% 2% MED N/A N/A N/A 8% 2% SREB N/A N/A N/A 5% 2% STSC N/A N/A N/A 21% 21% VMMP N/A N/A N/A 25% 20% All Programs N/A N/A N/A 16% 13% Default Rates by Cohort FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 9901 N/A N/A N/A 43% 39% FY 2002 N/A N/A N/A 7% 0% FY 2003 N/A N/A N/A 33% 30% FY 2004 N/A N/A N/A 9% 8% FY 2005 N/A N/A N/A 13% 12% FY 2006 N/A N/A N/A 6% 6% FY 2007 N/A N/A N/A 8% 7% FY 2008 N/A N/A N/A 10% 10% FY 2009 N/A N/A N/A 14% 11% FY 2010 N/A N/A N/A 9% 7% FY 2011 N/A N/A N/A 0% 1% FY 2012 N/A N/A N/A N/A 0% All Cohorts N/A N/A N/A 16% 13% 50% 40% 30% 20% 10% 0% FY 9901 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2011 FY 2012 FY 2009 FY 2010 FY 2011 FY 2012 All Cohorts Summary Detail 24

28 Mississippi Resident Tuition Assistance Grant (MTAG) Mississippi Resident Tuition Assistance Grants are available to Mississippi residents pursuing fulltime a first certificate, associate's degree, or bachelor's degree at an approved Mississippi college or university. Freshmen and sophomores receive up to $500 per academic year and juniors and seniors receive up to $1,000 per academic year for a maximum of eight (8) semesters. To be eligible, students must have a 2.5 GPA and a composite score of 15 on the national ACT (or 720 SAT). Recipients must NOT be eligible for full Pell grants. The application deadline is September 15 each year. History of Funding and Awards FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Total Applicants Awarded 25,896 26,838 23,227 23,297 22,490 Total Funding for Program $ 15,286,070 $ 15,689,129 $ 13,950,739 $ 13,979,693 $ 13,660,150 Eligible Applicants N/A 26,838 23,227 23,297 22,490 Award Rate N/A 100% 100% 100% 100% Average Award Amount $ 590 $ 585 $ 601 $ 600 $ 607 Applicants Not Funded N/A Funding Disparity N/A $ $ $ $ $16,000,000 $15,500,000 $15,000,000 $14,500,000 $14,000,000 $13,500,000 $13,000,000 $12,500,000 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Total Funding for Program Total Applicants Awarded 28,000 27,000 26,000 25,000 24,000 23,000 22,000 21,000 20,000 Awards by Institution 4Year Private Institutions Awards Amount Belhaven University 168 $ 115,850 Blue Mountain College 144 $ 104,425 Millsaps College 254 $ 175,825 Mississippi College 890 $ 658,525 Rust College 12 $ 10,275 Tougaloo College 95 $ 68,700 William Carey University 439 $ 294,683 Totals 2,002 $ 1,428,283 4Year Public Institutions Alcorn State University 190 $ 129,575 Delta State University 559 $ 399,600 Jackson State University 442 $ 296,775 Mississippi State University 4,630 $ 3,260,915 Mississippi University for Women 451 $ 344,125 Mississippi Valley State University 76 $ 48,850 University of Mississippi 3,636 $ 2,535,375 Undergraduate Grant Programs Mississippi Resident Tuition Assistance Grant (MTAG) 25

29 4Year Public Institutions (cont.) Awards Amount University of Mississippi Medical Center 135 $ 122,725 University of Southern Mississippi 2,859 $ 2,038,052 Totals 12,978 $ 9,175,992 2Year Public Institutions Coahoma Community College 11 $ 3,925 CopiahLincoln Community College 319 $ 135,975 East Central Community College 253 $ 104,300 East Mississippi Community College 358 $ 142,850 Hinds Community College 691 $ 271,025 Holmes Community College 483 $ 189,600 Itawamba Community College 1,029 $ 419,175 Jones County Junior College 644 $ 266,225 Meridian Community College 431 $ 172,500 Mississippi Delta Community College 163 $ 65,575 Mississippi Gulf Coast Community College Jackson County 315 $ 128,375 Mississippi Gulf Coast Community College Jeff Davis 345 $ 137,375 Mississippi Gulf Coast Community College Perkinston 351 $ 150,750 Northeast MS Community College 608 $ 257,875 Northwest MS Community College 821 $ 334,675 Pearl River Community College 468 $ 183,475 Southwest Mississippi Community College 220 $ 92,200 Totals 7,510 $ 3,055,875 Grand Totals 22,490 $ 13,660,150 Award Recipients by County County Awards Amount Adams 138 $ 87,975 Alcorn 273 $ 154,400 Amite 65 $ 35,975 Attala 136 $ 79,875 Benton 30 $ 18,400 Bolivar 188 $ 126,875 Calhoun 109 $ 66,175 Carroll 92 $ 57,150 Chickasaw 114 $ 68,850 Choctaw 82 $ 51,525 Claiborne 22 $ 11,100 Clarke 138 $ 78,600 Clay 128 $ 76,175 Coahoma 114 $ 71,025 Copiah 165 $ 108,475 Covington 114 $ 64,082 Desoto 1409 $ 842,833 Forrest 567 $ 346,938 Franklin 43 $ 25,050 George 149 $ 83,625 Greene 51 $ 28,866 Undergraduate Grant Programs Mississippi Resident Tuition Assistance Grant (MTAG) 26

30 County (cont.) Awards Amount Grenada 178 $ 113,429 Hancock 326 $ 200,606 Harrison 1350 $ 824,335 Hinds 1749 $ 1,120,309 Holmes 64 $ 36,600 Humphreys 35 $ 20,775 Issaquena 8 $ 6,000 Itawamba 246 $ 131,750 Jackson 1089 $ 644,402 Jasper 88 $ 52,533 Jefferson 23 $ 15,500 Jefferson Davis 38 $ 22,567 Jones 432 $ 266,537 Kemper 32 $ 18,750 Lafayette 408 $ 266,600 Lamar 638 $ 386,297 Lauderdale 706 $ 423,428 Lawrence 84 $ 51,033 Leake 96 $ 57,550 Lee 881 $ 532,250 Leflore 150 $ 96,350 Lincoln 354 $ 210,533 Lowndes 459 $ 288,850 Madison 1348 $ 903,459 Marion 150 $ 87,999 Marshall 144 $ 80,600 Monroe 337 $ 190,675 Montgomery 91 $ 59,325 Neshoba 184 $ 115,675 Newton 164 $ 103,600 Noxubee 37 $ 21,050 Oktibbeha 399 $ 273,132 Panola 172 $ 105,008 Pearl River 384 $ 231,581 Perry 80 $ 43,965 Pike 269 $ 160,805 Pontotoc 369 $ 219,875 Prentiss 227 $ 132,125 Quitman 37 $ 22,125 Rankin 1542 $ 956,775 Scott 146 $ 89,155 Sharkey 20 $ 12,000 Simpson 125 $ 76,309 Smith 100 $ 59,800 Stone 128 $ 77,002 Sunflower 131 $ 78,200 Tallahatchie 40 $ 22,825 Tate 209 $ 123,300 Undergraduate Grant Programs Mississippi Resident Tuition Assistance Grant (MTAG) 27

31 County (cont.) Awards Amount Tippah 193 $ 119,475 Tishomingo 152 $ 82,450 Tunica 15 $ 10,975 Union 284 $ 164,425 Unknown 6 $ 3,750 Walthall 69 $ 37,141 Warren 343 $ 224,850 Washington 286 $ 184,700 Wayne 91 $ 53,250 Webster 93 $ 56,375 Wilkinson 32 $ 19,450 Winston 132 $ 78,341 Yalobusha 48 $ 27,875 Yazoo 127 $ 79,775 Totals 22,265 $ 13,660,150 Note: The total number of award recipients when counted by county may be less than the total number of awards, due to the fact that students transfer midyear and may receive awards at more than one institution. Undergraduate Grant Programs Mississippi Resident Tuition Assistance Grant (MTAG) 28

32 Mississippi Eminent Scholars Grant (MESG) Mississippi Eminent Scholars Grants are available to highachieving undergraduate students pursuing a first certificate, associate's degree or bachelor's degree at a Mississippi college or university. Participants receive up to $2,500 per year, not to exceed tuition and required fees. To be eligible, students must have a 3.5 high school GPA and composite score of 29 on the national ACT (or 1280 SAT or status as a National Merit or National Achievement Finalist or Semi Finalist). Students must apply within three years of high school graduation. The application deadline is September 15 each year. History of Funding and Awards FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Total Applicants Awarded 1,829 1,938 1,990 2,019 2,156 Total Funding for Program $ 4,337,024 $ 4,568,470 $ 4,712,408 $ 4,810,293 $ 5,132,949 Eligible Applicants N/A 1,938 1,990 2,019 2,156 Award Rate N/A 100% 100% 100% 100% Average Award Amount $ 2,371 $ 2,357 $ 2,368 $ 2,383 $ 2,381 Applicants Not Funded N/A Funding Disparity N/A $ $ $ $ $5,200,000 $5,000,000 $4,800,000 $4,600,000 $4,400,000 $4,200,000 $4,000,000 $3,800,000 FY 2008 FY 2009 FY 2010 FY 2011 FY ,200 2,100 2,000 1,900 1,800 1,700 1,600 Total Funding for Program Total Applicants Awarded Awards by Institution 4Year Private Institutions Awards Amount Belhaven University 12 $ 27,500 Blue Mountain College 7 $ 17,500 Millsaps College 78 $ 183,750 Mississippi College 147 $ 352,500 Tougaloo College 2 $ 5,000 William Carey University 59 $ 141,666 Totals 305 $ 727,916 4Year Public Institutions Delta State University 23 $ 55,000 Jackson State University 2 $ 3,750 Mississippi State University 749 $ 1,785,444 Mississippi University for Women 12 $ 28,750 University of Mississippi 659 $ 1,605,392 University of Mississippi Medical Center 12 $ 27,500 University of Southern Mississippi 273 $ 661,250 Totals 1,730 $ 4,167,086 Undergraduate Grant Programs Mississippi Eminent Scholars Grant (MESG) 29