The financial aid data for USC’s 2021-2022 academic year followed traditional trends for the University, excluding some notable differences. While need-based aid has continued to increase, non-need-based aid had an atypical decrease.
Last month, USC published its annual data set of the previous year, including enrollment statistics, annual expenses, standardized test scores and financial aid data. Excluding athletic aid or tuition waivers, the student body received a total $365,509,206 in need-based aid and $78,765,242 in non-need-based aid from the University in the 2021-2022 academic year. This is a $49,527,728 increase in need-based aid and a $4,950,061 decrease in non-need-based aid from the previous year.
“During the 2021 academic year, many families were affected by the pandemic’s negative economic impact, and the university responded by providing more need-based aid,” USC Financial Aid wrote in a statement to the Daily Trojan.
According to USC Financial Aid, one reason need-based aid rose in 2021 was the University’s Affordability Initiative, a program that allows students from families residing in the United States with an annual income of $80,000 or less and typical assets, to attend the University tuition-free.
The increase in need-based aid falls in line with a long-standing upward trend at the University. USC’s institutional need-based aid has increased every year for the last decade. Since the 2010-2011 academic year, institutional need-based aid has risen 135% overall.
However, a decrease in USC’s non-need-based aid is rare. Prior to the release of the most recent data set, the 2019-2020 academic year was the only instance of institutional non-need-based aid decreasing between years in the 12 years USC has published financial aid data.
“The USC financial aid budget increases every year to continue to meet each student’s demonstrated financial need,” USC Financial Aid wrote. “Non-need-based aid is handled by the academic departments and is based on the schools’ priorities for each year.”
The financial aid data for USC’s 2021-2022 academic year followed traditional trends for the University, excluding some notable differences. While need-based aid has continued to increase, non-need-based aid had an atypical decrease.
Last month, USC published its annual data set of the previous year, including enrollment statistics, annual expenses, standardized test scores and financial aid data. Excluding athletic aid or tuition waivers, the student body received a total $365,509,206 in need-based aid and $78,765,242 in non-need-based aid from the University in the 2021-2022 academic year. This is a $49,527,728 increase in need-based aid and a $4,950,061 decrease in non-need-based aid from the previous year.
“During the 2021 academic year, many families were affected by the pandemic’s negative economic impact, and the university responded by providing more need-based aid,” USC Financial Aid wrote in a statement to the Daily Trojan.
According to USC Financial Aid, one reason need-based aid rose in 2021 was the University’s Affordability Initiative, a program that allows students from families residing in the United States with an annual income of $80,000 or less and typical assets, to attend the University tuition-free.
The increase in need-based aid falls in line with a long-standing upward trend at the University. USC’s institutional need-based aid has increased every year for the last decade. Since the 2010-2011 academic year, institutional need-based aid has risen 135% overall.
However, a decrease in USC’s non-need-based aid is rare. Prior to the release of the most recent data set, the 2019-2020 academic year was the only instance of institutional non-need-based aid decreasing between years in the 12 years USC has published financial aid data.
“The USC financial aid budget increases every year to continue to meet each student’s demonstrated financial need,” USC Financial Aid wrote. “Non-need-based aid is handled by the academic departments and is based on the schools’ priorities for each year.”
Approximately 54% of full-time undergraduates applied for need-based aid in the 2021-2022 academic year. Out of the 10,897 applicants, 8,413 — around 42% of the undergraduate body — were determined to have financial need and awarded aid. The average financial package of students in this category was $60,819.
Jordan Lefkowitz, a freshman majoring in environmental science and health, was hesitant about drawing conclusions from the averages in the report.
“There could be some people where their need is a little bit lower, in which case, [$60,819] is more than enough,” Lefkowitz said. “But there could be people with a lot of need because if it’s like 90k a year, then … you’re still paying 30k which is really a lot.”
Additionally, 4,474 undergraduates received institutional non-need-based financial aid with an average financial package of $17,585. These figures exclude athletic aid or tuition waivers.
In comparison, undergraduate students nationwide received an average of $15,330 in financial aid during the 2021-2022 academic year, according to the College Board. In the same year, UCLA, which has a similar location and undergraduate size to USC, had an average financial aid package of $24,152, with approximately 46% of the undergraduate body being determined to have financial need and receiving aid.
A sizable portion of financial aid also came from external scholarships and grants. Students at USC generated $17,204,341 in need-based aid and $20,277,277 in non-need-based aid from institutions outside of the financial aid office.
Itzel Ibarra, a junior majoring in health and human sciences, has been awarded need-based and non-need-based financial aid throughout her enrollment but is also receiving scholarships from her high school; the Dornsife College of Letters, Arts and Sciences; and the Big Brothers Big Sisters of Greater Los Angeles program to pay for college.
Ibarra said that her financial aid differs from year to year.
“My first year, I paid [and] I had a remaining balance. Last year I got a refund. And then this year, I basically broke even. I had to pay $100,” Ibarra said.
Need-based and non-need-based athletic aid in the 2021-2022 academic year was similar to the previous years, with University athletes receiving $5,770,460 in need-based aid and $16,887,778 in non-need-based aid. There were 399 athletes awarded an institutional non-need-based athletic scholarship or grant, with an average package of $55,794.
Parent loans, which have been steadily increasing over the past decade, dropped dramatically to $56,530,353 — a $14,789,636 decrease from the previous year — during the 2020-2021 academic year, which was impacted by the coronavirus. This year, parent loans have returned to $75,658,750, the highest since USC began publishing financial aid data.
“USC is strongly committed to supporting students who need financial assistance and meets their full USC-determined need,” USC Financial Aid wrote. “USC has one of the largest financial aid pools in the country, with two-thirds of our students receiving some form of financial assistance, including need-based grants, merit scholarships, federal work-study and loans.”
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