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State grant program faces projected deficit; formula levers highlighted as options
Summary
House staff told the committee the state grant program has a projected shortfall driven by enrollment increases and FAFSA changes; staff outlined how cost is calculated and which formula elements the legislature can change.
Nonpartisan legislative staff told the House Higher Education Finance and Policy Committee that Minnesota’s largest financial aid program, the state grant, faces a significant projected deficit and that the legislature can adjust formula levers to control program cost.
Nathan Hopkins, legislative analyst with House Research, walked members through how a state grant award is calculated and which inputs the legislature can change. ‘‘A student's grant amount typically equals the cost of attendance, minus the assigned student responsibility, minus the assigned family responsibility, minus the Pell grant,’’ Hopkins said. He described cost of attendance components (tuition and fees capped at the…
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