A. E. Araiza/Arizona Daily Star 2007

More Updates:

PRESIDENTIAL DEBATE: Who won?Baseball: Phillies advance to World SeriesMan suspected of making bombs at Pima County plant where he workedTucson cop arrested for DUI, loses state certificationMan arrested in kidnapping, assault of elderly Tucson manTrial date set for man accused of killing Tucson police officerCindy McCain asked and got cell phone coverage for Cornville ranchCalif. mom cremated on BBQ, family kept benefits, sheriff saysJury convicts 2 men, acquits woman in Tucson drug caseBorder Patrol finds 2,700 pounds of pot in truckGoddard to host crime, fraud prevention forum in TucsonMarana coffee shop closesArts bring new life to Tucson industrial zoneNot my dad's GOP: Buckley leaves National ReviewTucson police radar van locations for WednesdayNapolitano has Web site seeking state budget ideasAriz. governor heading to NM, Colo. for ObamaAIG executives spent thousands during hunting tripCheney treated successfully for abnormal heartbeatStocks plunge as economic news gets worseScientists view both Obama, McCain as supportiveMexican workers in 1940s can seek back pay, judge rulesFeds wants kids to buckle up on small school busesBernanke: Don't expect quick economic reboundUpdate: Nancy Reagan hospitalized with broken pelvisBottled water has contaminants too, study findsNissan recalls vehicles over air bag concernsStocks fall as retail sales show steep dropNASA figures out remote-control Hubble photo fixStakes high as Obama, McCain head for final debateUS stocks set to open mixed ahead of retail salesDozens get gas in Wis. for 35 cents after mistake’Housewives’ actor injured in motorcycle accidentSarah Silverman's comic video tries to boost Obama'SNL' this week? You betcha Tina Fey doesn't knowMadonna and Guy Ritchie announce their divorce

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Regents' financial-aid policy criticized Students need credits, not decades of debt Colleges need more funding Regents look at new financial-aid models State near bottom for college student financial aid-grantsNew concept to fund state's three universities being proposed

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Pecan exec dies in plane crash Manager of Green Valley pecan farm killed in plane crash Police chief eyes new policy on entrant reports Desert yields body of smuggler Marijuana smuggler killed by bandits south of Tucson, authorities say Monsoon's not over yet, thunderstorm shows Mexican man is suspect in S. Side killing Man arrested in death of his girlfriend in OV Boy, 11, locked in 'reeking' room; 2 held Tucson boy, 11, locked in 'reeking' room, detectives say

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FLAGSTAFF — Almost 80 percent of students at Arizona's three public universities receive some amount of financial aid, with a total likely to surpass $1 billion this year.

The largest source of financial aid is federal student loans, which creates an average debt of $18,029 for undergraduates and $35,880 for graduate students, according to new statistics presented at Friday's Arizona Board of Regents.

The board is considering new financial aid models that would dramatically increase state funding to need-based grants for university students, with the aim of making a university education more affordable and accessible.

Arizona is near the bottom for state money given in financial aid, in many cases hundreds of millions of dollars a year less than peer states, with similar populations and university systems. Of the 120,645 students enrolled last year, 93,646 were awarded financial aid. Of those, 1,118received aid from the state, but the amount of aid was 0.2 percent of the $988.9 million.

"This is one more nail in the coffin of the low tuition, low financial aid model. It's never worked,"said Arizona State University President Michael Crow.

Since raising tuition sharply in the last several years, the universities themselves have taken on a much larger share of the financial aid burden, giving more than $164 million last year.

Models the regents are examining to revamp financial aid in the state include a new grant program that would cover tuition and fees for needy students, the same grant program but a component to reach out to low-income students starting as early as eighth grade, an expansion of the Arizona Financial Aid Trust to cover up to the $260 million in unmet need for students, and a system combining merit- and need-based financial aid.

"It's essential to have both robust need-based and robust merit-based financial aid working in tandem to keep our talented people in Arizona," said University of Arizona President RobertShelton.

Even with the nearly $1 billion Arizona students received last year, financial aid met only 64percent of the need for undergraduate students.

John Nametz, UA director of student financial aid, said new federal legislation including pell grant increases, reduced interest, grants for teachers going into high-need schools and repayment flexibility will be a big boost for students.

One new program the regents approved Friday would award loans to cover tuition to students who agree to teach math, science or special education at a public school.

The loans would be forgiven after students meet teaching requirements of one year more than the number of years they received loans.

The regents also approved two new projects for the UA's 2009 capital improvement plan, totaling$463.7 million.

The UA Science Center and Arizona State Museum complex for Downtown Tucson would cost$130,000.

The UA's share of a medical education building and the second medical research building for the Downtown Phoenix biomedical campus would be $333.7 million, or 71 percent of the total project.

ASU has a 25 percent share of the project cost, while Northern Arizona University will pay4 percent.