Power Five Pass Cost of Attendance Legislation
7/14/2015 12:00:00 PM | Terrapin Club
COLLEGE PARK, Md. - At the recent NCAA convention in January, the Presidential Boards of Directors for the Power Five conferences, the ACC, Big Ten, Big 12, Pac-12 and SEC, adopted a vision for an effective intercollegiate athletics system that fully meets the needs and expectations of student-athletes in the 21st Century. This resolution now serves as the autonomous platform to create optimal student-athlete experience based on available resources and to seek a fully integrated collegiate model in which athletics and academics are appropriately balanced.
The Power Five commenced their commitment to delivering substantive and meaningful change through the January 2015 adoption of legislation that defines a full grant-in-aid as meeting the full cost of attendance.
As a valued supporter of the Terrapin Club Scholarship Fund, we want you to understand how this legislation will benefit our student-athletes, and how it will impact the rising cost of education in college athletics.
Q. What does “cost of attendance” mean?
A. Previously, full grant-in-aid for an athletic scholarship included:
- Tuition
- Fees
- Room
- Board
- Required Books
Under this new legislation, effective August 1, 2015, full grant-in-aid is redefined as equal to a student-athlete's cost of attendance (COA). COA includes all of the expenses included in grant-in-aid, plus additional expenses that a student-athlete would incur to attend the institution. These expenses include:
- Supplies
- Personal Expenses
- Transportation
Q. Is COA the same at every school?
A. No. The value of COA is determined by each institution's financial aid office under federally determined guidelines.
Q. What is COA at Maryland?
Students who live on campus will be granted a $2,820 stipend while off-campus students will receive a $4,196 stipend.
Q. What does this mean for equivalency sports that have student-athletes on partial scholarships?
A. The value of financial aid awards that are provided to equivalency sports will increase to include full cost of attendance.
Q. Where will this additional money come from?
A. COA will be factored into the annual scholarship bill. The estimated impact is approximately $1 million, which would bring the total cost of student-athlete scholarships to roughly $13 million. The goal of the Terrapin Club Scholarship Fund is to fully fund this bill through private donations from our loyal supporters.
Q. How will this legislation impact the student experience?
While this legislation will increase the amount of financial support the University can provide to cover the costs associated with obtaining a quality college education, the additional benefits delivered through our academic support, sports medicine, and career development are invaluable. Opportunities like this are what separate the experience at Maryland from other institutions around the country. Thank you for helping us to continue to provide an exceptional experience for our students.
