Cal’s newest freshmen have worked hard to gain admission to the finest public teaching and research university in the world. In the next four years Berkeley will help create opportunities for them to grow and excel at the highest levels. But will tomorrow’s freshmen still have the same opportunities?
Offering an education that is financially within reach is critical to fulfilling Berkeley’s mission as a public university. But rising costs have made it increasingly difficult for many students to afford Cal.
Today, 75 percent of Cal’s undergraduates receive some form of financial aid and more than 7,100 undergraduates come from families who make less than $45,000 a year. Private scholarships make it possible for these students to attend Cal and help Berkeley to achieve its public mission.
Because scholarship funding has not kept pace with increases in education and living expenses, there is less financial assistance to go around. Students must cover these costs themselves by taking on additional loans and working longer hours.
Over the next five years, the amount that students will be expected to cover in work and loan for a Berkeley education — in addition to what their parents contribute — is projected to reach more than $11,500 annually. By the year 2010–11, students entering Berkeley who need financial assistance will have to borrow or earn in excess of $46,000 to pay for the cost of their educations.
Berkeley’s ability to provide all students with necessary financial assistance, including privately funded scholarships, will help to lessen this financial burden. It will also sustain the University’s public mission and help it continue to draw the very best students.
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