66021.1.
(a) For purposes of this section, the following terms shall have the following meanings:(1) “Institutional financial aid” means all institutional grant aid, including institutional student need-based and merit-based aid.
(2) “Private nonprofit colleges and universities” means private nonprofit colleges and universities located in California that enroll 500 or more undergraduate students.
(3) “Students” means California residents who are undergraduate students at the University of California, the California State University, or private nonprofit colleges and universities.
(b) The California State University and private nonprofit colleges and universities shall, and the University of California is requested to, report annually to the Legislature on their respective institutional financial aid programs. The California State University and private nonprofit colleges and universities shall, and the University of California is requested to, provide reports on or before March 31 of each year.
(c) The reports shall include all of the following:
(1) A description of the goals, terms, and policies of each of the university’s institutional aid programs, including eligibility criteria, allocation of financial aid awards, fee waivers, and other relevant information.
(2) A description and explanation of any changes the university has made to any of these policies since the prior year, and any changes the university intends to make for the next academic year.
(3) The total amount the university expended on institutional aid for students, for the two prior academic years, the current year, and a projection for the next year, and the average and 90th percentile undergraduate institutional aid award amount provided per recipient for the prior two academic years and the current academic year.
(4) By parental income level or expected family contribution deciles, all of the following information for the prior academic year:
(A) Net price, which is the balance of the total cost of attendance minus all grant aid.
(B) The percentage of students receiving institutional aid and the average dollar amount of that institutional aid.
(C) The percentage of students graduating with ten thousand dollars ($10,000) or more in debt, the average dollar amount of that debt, and the percentage of private loans and federal loans that are included in that debt.
(5) For the prior academic year, the current academic year, and the budget year, an analysis identifying the estimated number of undergraduates with financial need; their aggregate cost of attendance and aggregate expected federal parent contribution; the aggregate amount of financial aid,
including federal gift aid, state gift aid, institutional need-based aid, institutional merit-based aid, other institutional gift aid, and private gift aid, received by these students; the aggregate remaining amount to be met by work, borrowing, or other means; and an explanation of the estimated change in aggregate student need in the budget year resulting from changes in the cost of attendance, and other factors, including any fee increases proposed by the university in its fall budget proposal. The explanation shall include an estimate of the extent to which cost increases will be offset by federal, state, and institutional financial aid programs. The explanation shall also include an explanation of how year-to-year non-tuition cost increases were calculated.
(6) The typical financial aid package for a typical dependent undergraduate
student with a parent income of twenty thousand dollars ($20,000), forty thousand dollars ($40,000), sixty thousand dollars ($60,000), eighty thousand dollars ($80,000), one hundred thousand dollars ($100,000), and one hundred twenty thousand dollars ($120,000).
(7) An aggregate summary of financial aid awarded to students, including scholarships, grants, waivers, loans, and workstudy awards from federal, state, institutional, and private sources for the prior academic year.
(8) Indicators of the effectiveness of the university’s aid programs in achieving the university’s stated goals related to financial aid.
(9) Information on students who submit a Free Application for Federal Student Aid, or Dream Act
Application, but do not receive a Cal Grant or institutional financial aid for the prior academic year. This information shall be disaggregated by race, ethnicity, expected family contribution deciles, and dependency status.
(10) The California State University shall include information on the number of students who are eligible for a grant pursuant to the State University Grant Program but do not receive it or receive a partial award for the prior academic year. This information shall be disaggregated by race, ethnicity, and campus of attendance.
(11) The University of California is requested to include information on the average undergraduate student financial self-help level. This information shall be disaggregated by race, ethnicity, and campus of attendance.
(d) To the extent the university provides the information requested in subdivision (c) in reports to its governing board or in other university publications, those reports or publications may be submitted to the Legislature to satisfy this request.