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Demonstrated Financial Need: For institutionally funded financial aid, financial need is determined by institutions, based on undergraduate students’ income, assets, and other financial resources that are reported by students on their applications for institutionally awarded financial aid.

Institutional Grants Aid: The total dollar amount of institutionally funded scholarships, fellowships, and grants awarded to undergraduate students. This figure includes athletic scholarships, grants funded by restricted and unrestricted endowment income, and all other grant-based aid that is distributed by institutionally specific criteria. It does NOT include tuition remission and tuition exchange programs, institutional matches for externally funded federal or state student aid programs, or transfers from the current fund to student loan funds.

Institutional Grant Aid that Meets Demonstrated Students’ Financial Need: Any institutional scholarships, grants, or fellowships that were used to meet students’ financial need. Any non-need-based grants (athletic scholarships or merit aid) that were used to meet students’ financial need should be counted as aid that meets need.

Institutional Discount Rate: The total institutional grant aid awarded to undergraduates a percentage of the gross tuition and fee revenue the institution would collect if all students paid the full tuition and fee sticker price. The TDS includes separate institutional discount rates for first-time, full-time, first-year undergraduates and for all undergraduates.

Net Tuition Revenue: The net tuition rate is calculated as the aggregate gross tuition revenue undergraduates minus institutionally funded financial aid grants for undergraduates, divided by the number of undergraduates.  The TDS includes separate net revenue rates for first-time, full-time, first-year undergraduates and for all undergraduates.

Percentage of First-time Undergraduates Receiving Institutional Grants: The percentage of first-time undergraduates aided is calculated as the number of first-time, full-time, degree- or certificate-seeking first-year undergraduates receiving institutional grants divided by the total number of these first-time undergraduates.

Percentage of Undergraduates Receiving Institutional Grants: The percentage of all undergraduates aided is calculated as the number of undergraduates receiving institutional grants divided by the total number of all undergraduates.

Student Aid Rate: For students who receive aid, the student aid rate is the average institutional grant awarded as a percentage of the sticker price those students would have had to pay for tuition and fees. This measure illustrates changes in institutional grant amounts relative to changes in tuition and fee sticker prices. The TDS includes separate student aid rates for first-time, full-time, first-year undergraduates and for all undergraduates.


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Ken Redd

Senior Director, Research and Policy Analysis

202.861.2527

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Steffon Gray

Assistant Director, Research and Policy Analysis

202.861.2566

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Kat Masterson

Assistant Director, Research and Policy Analysis

202.861.2544


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NACUBO Tuition Discounting Study

The annual NACUBO Tuition Discounting Study (TDS) measures the institutional tuition discount rates and other indicators of institutional grant awards to first-time, full-time first year undergraduates and all undergraduates who attend private, nonprofit (independent) colleges and universities.

NACUBO Benchmarking Tool

The NACUBO Benchmarking Tool allows member institutions to compare their endowment, tuition discounting, and student financial services survey results against self-selected peer group averages.