UMass Pledges $130M In Financial Aid To Students

BOSTON (AP) - The University of Massachusetts plans to make more than $130 million in financial aid available to its students this year.

University President Jack Wilson said in a report to the board of trustees administration and finance committee that the five-campus system must do all it can to "maintain access and affordability."

UMass said in a statement on Monday that its financial aid commitment has increased by 267 percent over the last eight years, going from $35.6 million to $130.5 million for the fiscal year that ends June 30. Last fiscal year, the university spent $109 million on financial aid.

More than 60 percent of UMass undergraduates are receiving some type of need-based financial aid.

The average overall cost of attending UMass for an in-state undergraduate is $22,623 this year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)