UMass Pledges $130M In Financial Aid To Students

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 trustee's administration and finance committee that the school 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 the current figure of $130.5 million.

More than 60 percent of UMass undergraduates are receiving some type of need-based financial aid, totaling about $673 million. Nineteen percent of that total is being provided by the university itself.

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