The EEE Committee Session held on January 30, 2025, focused on the affordability of higher education in Maryland and the financial aid initiatives aimed at supporting students. A key speaker highlighted the state's progress in making public college education more affordable, noting that Maryland is now ranked as the 27th most expensive state for public college tuition, a significant improvement from its previous position as one of the top five most expensive states two decades ago.

Despite this progress, the speaker acknowledged that many families still face financial hardships. To address this, Maryland institutions awarded over $100 million in need-based university aid last year, nearly double the amount awarded a decade ago. This aid benefited approximately 50,000 students, with 85% of recipients being in-state students. The increase in aid reflects a 37% rise over the past ten years.

The discussion also touched on the establishment of a quasi endowment, approved by the General Assembly two years prior, which allows for targeted financial support for families who fall just above the federal aid cutoff. This initiative aims to assist those who struggle to afford college despite not qualifying for federal assistance.

Retention rates were another significant topic, with the speaker emphasizing the importance of not only admitting students but also ensuring they complete their degrees. Last year, 84% of full-time students who received financial aid were retained into their sophomore year, compared to 66% retention for those without aid. This data underscores the critical role that financial support plays in student success and completion rates in Maryland's higher education system.