Access Missouri scholarships face cuts by up to 50 percent
The Missouri Department of Higher Education announced Tuesday that individual Access Missouri scholarships will be cut by as much as 50 percent in the coming school year.
In a letter to presidents and chancellors of the state's colleges and universities Tuesday, the department's Interim Commissioner for Higher Education, David Russell, announced the cuts, attributing them to reduced funding and increased numbers of qualified students.
Russell said the estimated award amount for 2010-11 at public four-year institutions, like MU, will be $950 this year, down from as much as $2,150 the previous year. Awards at four-year private institutions are estimated to be $1,900, down from as much as $4,600 available last year.
The cuts come as a result of state budget cuts that saw appropriations for the scholarship program cut from $83 million. Some of that cut was offset with a $30 million loan from the Missouri Higher Education Loan Authority in a deal that was announced last week.
Russell said in his letter that more than 102,000 students qualify for Access Missouri this year, compared to 86,000 eligible students in 2009-10, prompting the sharp decreases in funds, in spite of the loan. He also said the amounts may be cut even if further if more students qualify for the scholarships.
"These estimated amounts are based on conservative models to ensure there are adequate funds for the number of qualified students who enroll," he stated. "The MDHE will re-evaluate award levels prior to the beginning of the fall semester and again in December. At both of these decision points, award levels may be adjusted in order to ensure the program has sufficient funding."
DHE spokeswoman Kathy Love said in an interview Tuesday that Russell's letter will be the first time institutions have heard about exactly how deeply the scholarships were cut. She said the cuts are the result of an increase in the number of qualified students and a decrease in the amount of state funding for the program.
"There is less money available for more students," she said. "Obviously it will affect students' ability to pay for college. It's an unfortunate situation."