Goal 1: Meet full undergraduate financial need such that all Pell Grant recipients graduate with less than $10,000 of debt. (Target: 2021)
Gonzaga implemented an initiative to recruit and support Pell-eligible students from the state of Washington. Recognizing the large financial gap for our highest need students, Gonzaga worked to first address meeting the need of Pell-eligible students in its home state through a program known as the Magis Commitment. The Magis Commitment was supported by strategically prioritizing University funds as well as by the Woldson Scholarship Fund, utilized to enhance the University's financial aid resources.
In Gonzaga's class of 2020, approximately 16% of undergraduates who were granted a degree received a Pell Grant at some point during their time at Gonzaga. 84% of the Pell Grant students also borrowed from a federal loan program. The average amount borrowed by these students was $27,842.
On average, 60% of graduating seniors borrow through the federal loan program. The average debt at graduation of these first-time undergraduate students can be found in the table below:
|Academic Year||AY 14-15||AY 15-16||AY 16-17||AY 17-18||AY 18-19||AY 19-20||AY 20-21|
|The average cumulative principal borrowed:||$24,796||$25,828||$24,482||$24,244||$24,345||$22,745||$22,611|