Cumberland Times-News

Local News

November 18, 2013

ACM students received $21.2 million in financial aid

CUMBERLAND — Students attending Allegany College of Maryland were awarded and paid $21.2 million in financial assistance during fiscal year 2013, according to a report distributed Monday during the monthly meeting of the college’s Board of Trustees.

The report revealed that assistance came in the form of 4,419 awards from 80 different programs.

The data showed that 84 percent of ACM students receive some type of financial aid.

Linda Price, vice president of advancement and enrollment, commented on the trends in financial aid during the meeting.

“We have seen an increase in federal dollars while we have seen a decrease in state dollars from Maryland and Pennsylvania,” said Price.

Federal Pell Grants for ACM increased from $6.8 million in 2012 to $6.9 million in 2013. Maryland dropped state aid from $947,132 in 2012 to $827,064 this year. Pennsylvania aid also dropped from $1.05 million in 2012 to $960,960 in 2013.

“Pell (Grant) dollars have more than doubled over the past six years,” said Price.

Data revealed during the meeting also showed that federal student loans increased from $9.3 million in 2012 to $9.6 million in 2013.

“Students are having to borrow more and more,” said Price.

Also contributing to the financial aid pie available to eligible ACM students is the Allegany College of Maryland Foundation. With over $9 million in assets, the foundation gave out around 1,300 scholarships in 2012 totaling $587,000.

 In addition to the Cumberland location, ACM has two additional campuses in Bedford and Somerset, Pa.

ACM experienced steady growth in enrollment in the early 2000’s, that peaked during the 2009 and 2010 school years at around 4,100 students.

Since that peak, ACM enrollment has declined each year since. Total enrollment for ACM in 2013 was about 3,161.

The meeting also featured a presentation by two ACM instructors from the Division of Business and Economics.

“We offer three degree programs: business management, accounting and economics,” said Robin Imgrund, coordinator for business and economics at the Pennsylvania campus.

Imgrund said the department currently has 406 students and is the second largest majors program next to pre-nursing.

The business department has been a consistent asset to the school, according to Imgrund, because it has low costs, doesn’t require expensive equipment and has high enrollment.

“Have you considered the business aspect of health care in your program,” asked Barry Ronan, president and CEO of the Western Maryland Health System and an ACM board member.

Ronan said that now might be a good opportunity to look at adding a health care concentration in business given health care’s large role in the community.

“The timing is good because health care is changing dramatically and moving toward a value based model,” said Ronan.

Maryland is also the home to more than 500 biomedical sciences companies with the field considered to be one of the fastest growing industries in the country.

“It’s definitely something worth looking at,” said Ron Krug, the coordinator for business and economics at the Cumberland campus.

Greg Larry can be contacted at glarry@times-news.com.

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