Financial Plan - Cornell University Division of Budget & Planning

Tuition, Financial Aid & EndowmentDistribution of Students Based on thePercent of Cost of Attendance Covered byCornell Grant Aid (2007-08) *$60,000$50,000• Grants and Contracts – which fund primarily thefaculty’s organized research projects. Cornell’sfederal, state, and local grant and contract activitytotaled $516.4 million for 2006-07.• Financial Aid – which supports undergraduate,graduate, and professional students. Governmentsupport for undergraduate financial aid in theform of grants, loans, and work-study opportunitiestotaled $45.7 million in 2006-07.Cost of Attendance$40,000$30,000$20,000$10,000$00% 20% 40% 60% 80% 100%Percent of Cost Covered by Grant AidAppropriationsWhile government appropriations benefit all ofCornell’s programs, most of this funding (99 percent)supports the four contract colleges and the bulk of it(92 percent) comes from New York State. (See graphbelow.) In turn, most New York State appropriationsare administered through the State University of NewYork (SUNY). For several years prior to 2006-07, Cornell’sbase allocation was established through a SUNYresource allocation methodology that generally treatedthe university unfavorably because increases in studentpopulations at other SUNY campuses effectively* Students enrolled in both semesters of the 2007-08academic year who were awarded grant aid fromCornell resources.sistance. 15 While demonstrated need and subsequentawards this great are rare, approximately three-fifths ofall grants fall in the 40 percent to 80 percent range.Government Operating Appropriationsfor the Contract Colleges(excludes funding for costs not recorded by Cornell)$200Government FundingFederal and state governments (and local governmentsto a very small extent) are important partners in fundingthe educational and research activities of highereducation, supplying three basic types of assistance:• Appropriations – which underwrite basic operatingand capital budgets. At Cornell these appropriationstotaled $198.6 million for 2006-07. 1615 Graphed are the 5,077 students enrolled in both semestersof 2007-08 who were awarded Cornell grant aid. The averagegrant award was $19,901 and the median was $20,366.Grant awards ranged from $210 to $47,866.16 Excluded from this total are debt service on state-ownedfacilities at Cornell and certain employee benefits that arerecorded by New York State rather than the university.Dollars in Millions$150$100$50$071 74 77 80 83 86 89 92 95 98 01 04 07Fiscal YearFederal – NominalState – NominalTotal – Inflation-Adjusted19