UNC-system administrators say they will use their newfound flexibility with tuition revenues to better meet students’ financial aid needs.
After the UNC-system Board of Governors voted Friday to grant universities more control of their funds, tuition and fee committees across the system will take a closer look at their schools’ individual financial aid needs.
System universities were previously required to allocate at least 25 percent of new revenue from tuition increases to need-based financial aid.
But now each campus can determine for itself the amount set aside for aid.
Most schools have not yet decided the amount they will now designate toward financial aid.
Cameron Carswell, president of the system’s Association of Student Governments, said in an email that an across-the-board implementation doesn’t reflect each campus’s needs.
“Each institution is unique,” Carswell said. “By keeping the conversation about financial aid at a university level, it allows conversations between chancellors, administrators, students and board of trustee members.”
Half of the 16 universities in the UNC system allocate more than the minimum 25 percent of tuition revenue to need-based financial aid.
UNC-CH allocates the most — about 37 percent of its tuition increase revenue.