CSUN Student Financial Aid to Top $100 Million Next Year

For the second year in a row, Cal State Northridge officials expect to award more than $100 million in financial aid to university students this coming academic year.

Although the 2001-2002 financial aid awards have not all been completed, university officials estimate that more than 16,000 students received approximately $103 million in aid last year. They expect to award at least that amount again this year.

"CSUN is very fortunate in having the resources to assist as many students as possible," said Kathryn J. Anderson, director of financial aid and scholarships at Northridge. "The monies that students receive not only go toward paying their tuition, but also for other expenses like rent, food, books and child care. We don't want them to be worrying about expenses while they are attending school. The most important thing is that they take advantage of the quality education offered here at the university that will help them succeed later in life."
Anderson explained that student financial aid consists of four programs that are divided into two categories — gift aid and self-help aid.

Gift aid consists of grants and scholarships that come from a variety of sources such as the federal and state government, the university itself and private organizations and individuals.
Self-help aid consists of student and parent loans and work-study. The federal government and various lending organizations provide funding for these programs.

Anderson said financial aid awards at the university have gradually increased over the years as the number of students and the cost of living have grown.

To put Northridge's financial aid increase into perspective, Anderson compared the amount of aid given to students in the academic year 1993-94, when CSUN had approximately 26,000 students, to 2001-2002, when more than 31,500 people were enrolled at the university.
In 1993-94, Northridge awarded more than $9 million in Pell Grants to more than 5,500 students. Last year, the university awarded more than $28 million in Pell Grants to more than 10,700 students.

In 1993-94, CSUN students received more than $2 million from the state's Cal Grant A and B programs. Last year, CSUN students received nearly $6.5 million from the Cal Grant A, B and T programs.

In 1993-94, approximately 489 students earned $811,761 in federal work-study jobs on campus. Last year, more than 860 students earned more than $1.5 million in campus work-study jobs.

In 1993-94, more than 5,500 students borrowed more than $21 million in student loans to help them pay for their college education. Last year, more than 10,000 students borrowed more than $49 million in student loans to cover educational expenses.

University officials estimate it costs about $13,000 a year for a student to attend Cal State Northridge if they do not live with their parents, and about $8,500 a year if they do. Only about $1,800 of that is the fee it costs a California resident to attend CSUN. The rest includes books and supplies, room and board, transportation and other miscellaneous expenses.

"We try to put together as complete a package as possible to help the students," Anderson said. "While some students don't like the idea of a student loan or work study, they do have their advantages. Students learn money management with a loan and gain valuable job experience with work study."

Contact: Carmen Ramos Chandler, (818) 677-2130
carmen.chandler@csun.edu