institutions. The evidence provided here is intended to inform discussions of the rapid growth of... more institutions. The evidence provided here is intended to inform discussions of the rapid growth of the sector in recent years. Enrollments Between fall 2000 and fall 2009, full-time enrollment in degree-granting institutions in the for-profit sector increased from 366,000 to 1.5 million. In just nine years, the sector went from enrolling 4% of full-time students (and 3% of all students) to enrolling 11% of full-time students (and 9% of all students). Among students in this sector, 61% are enrolled in institutions that offer four-year degrees, 24% are in two-year institutions, and 15% attend less-than-two-year institutions. Undergraduates account for 86% of the total. Among students in the for-profit sector, 76% are enrolled full-time, compared to 62% of postsecondary students overall. 1
Disturbing anecdotes that are real but not representative can capture a lot of attention in the m... more Disturbing anecdotes that are real but not representative can capture a lot of attention in the media and cascade into widely accepted panics that are out of proportion to reality. Student debt is just one example of this phenomenon. Some proposed policy responses, such as forgiving and eliminating all student debt, would be very poor strategies even if they were feasible. Increased educational attainment has significant benefits both for society as a whole and for individuals. Although there is significant variation among people with the same level of education, people with college degrees generally earn much more than others. They can reasonably use a portion of their higher incomes to repay debt—as long as there is protection for people who run into unexpected difficulties.
This Article is brought to you for free and open access by UCI Law Scholarly Commons. It has been... more This Article is brought to you for free and open access by UCI Law Scholarly Commons. It has been accepted for inclusion in UC Irvine Law Review by an authorized editor of UCI Law Scholarly Commons.
Average loans per FTE graduate student Average loans per FTE undergraduate student and fellowship... more Average loans per FTE graduate student Average loans per FTE undergraduate student and fellowships to cover tuition and living expenses while they are enrolled. This brief reviews borrowing patterns and trends among advanced degree students, disaggregating by demographic characteristics as well as type of program and institutional sector. Differences in Annual Borrowing between Undergraduates and Advanced Degree Students Annual borrowing for higher education has risen dramatically over the past two decades. Between 1995-96 and 2005-06, the average amount borrowed among advanced degree students increased
W e believe the policies in this report would expand educational opportunities and would increase... more W e believe the policies in this report would expand educational opportunities and would increase both the equity and the efficiency of the federal investment in higher education .
Founded in 1983, Access Group, Inc. is a nonprofit membership organization comprised of nearly 20... more Founded in 1983, Access Group, Inc. is a nonprofit membership organization comprised of nearly 200 nonprofit and state-affiliated ABA-approved law schools. From providing financial education resources and services for students and schools, to supporting research and grant programs, data collection and analysis, to driving policy advocacy, Access Group works to promote broad access, increased affordability and the value of legal education specifically, and graduate and professional education more broadly. Access Group is headquartered in West Chester, PA; its Center for Research & Policy Analysis® is located in Washington, DC.
Higher education is an investment that pays off well for most students over the long run. Relying... more Higher education is an investment that pays off well for most students over the long run. Relying on loans to cover a portion of the costs is reasonable, and a federal student loan system that makes credit available on good terms is a critical component of higher education financing. The federal student loan system opens the door to college for many students by enabling them to access their future earnings to pay college tuition bills and other expenses they must cover while they are in school. But higher education is an investment that involves considerable uncertainty, and the student loan repayment system should mitigate the risk for borrowers, a risk that is increasing as college prices rise and reliance on debt increases. Historically, the student loan repayment system, under which almost all borrowers were on 10-year fixed payment schedules, did not account well for risk. The addition of income-driven repayment options has been a step in the right direction, but the current system is complicated and not carefully designed to appropriately apportion costs and risks across borrowers and taxpayers. The federal government should simplify the system, developing one income-driven repayment plan for all borrowers, with payroll withholding automatically adjusting required monthly payments.
•• The price of a public college education hasincreased rapidly, in large part because of
inadeq... more •• The price of a public college education hasincreased rapidly, in large part because of
inadequate public funding.
•• Promising free tuition would be a giveaway to the relatively wealthy.
•• Strengthening the need-based financial aid system is a more constructive strategy for
reducing inequality; a simple and predictable Pell Grant system and a well-designed
income-driven loan repayment program would significantly help students.
•• The federal government should strengthen its partnership with the states to ensure
that colleges and universities have the resources they need to educate students at
an affordable price.
Many assertions about the impact of student debt are grounded in weak evidence and problematic re... more Many assertions about the impact of student debt are grounded in weak evidence and problematic reasoning. It is difficult to sort out cause and effect, as opposed to similar trends, in much of the analysis of the relationship between student debt and asset formation, entrepreneurial activity, and home purchases. Few discussions of student debt clarify the alternatives—if people didn’t borrow for college would they manage to get the same education? If students didn’t borrow, who would pay and what would be the impact of higher taxes or reduced spending in other areas? Moreover, surveys of what people believe to be true are too often confused with evidence about what is actually true.
This project emerged from Jerry Davis' determination to find the best possible need-analysis syst... more This project emerged from Jerry Davis' determination to find the best possible need-analysis system in order to improve access to college funding for the neediest students. In addition to Jerry, many others made substantive contributions to the development of this report.
The facts presented in this study and the observations and viewpoints expressed are the sole resp... more The facts presented in this study and the observations and viewpoints expressed are the sole responsibility of the authors. They do not necessarily represent positions of the W.E. Upjohn Institute for Employment Research.
The national commitment to increasing postsecondary educational attainment, combined with growing... more The national commitment to increasing postsecondary educational attainment, combined with growing economic anxiety, has made community colleges the focus of many federal and state policy initiatives. There is good reason for this: by virtue of their nature and reach, community colleges—public institutions of higher education that predominantly award associate degrees and sometimes bachelor’s degrees—are indispensable to meeting national goals for educational attainment as well as for the development of a productive workforce. But no national system of community colleges exists, and national policies to improve opportunity and success at community colleges should reflect their diversity of students, programs, missions, and funding structures.
The Spencer Foundation was established in 1972 through the gift of Lyle Spencer and supports rese... more The Spencer Foundation was established in 1972 through the gift of Lyle Spencer and supports research about education. The Foundation currently funds individual investigators to pursue important research projects regarding educational issues. Traditionally the majority of grantees have been affiliated with academic departments in colleges and universities, the remainder being principally employed in schools of education. Lumina Foundation for Education, an Indianapolis-based private foundation, strives to help people achieve their potential by expanding access to and success in education beyond high school. Through grants for research, innovation, communication, and evaluation, as well as policy education and leadership development, Lumina Foundation addresses issues that affect access and educational attainment among all students, especially underserved student groups such as minorities, students from low-income families, first-time college-goers, and working adults. The Foundation believes postsecondary education is one of the most beneficial investments individuals can make in themselves and that a society can make in its people. The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,400 schools, colleges, universities, and other educational organizations. Each year, the College Board serves seven million students and their parents, 23,000 high schools, and 3,500 colleges through major programs and services in college admissions, guidance, assessment, financial aid, enrollment, and teaching and learning. Among its best-known programs are the SAT ® , the PSAT/NMSQT ® , and the Advanced Placement Program ® (AP ®). The College Board is committed to the principles of excellence and equity, and that commitment is embodied in all of its programs, services, activities, and concerns. Disclaimer In all of its book publishing activities, the College Board endeavors to present the works of authors who are well qualified to write with authority on the subject at hand and to present accurate and timely information. However, the opinions, interpretations, and conclusions of the authors are their own and do not necessarily represent those of the College Board or the other project sponsors, or their offices or employees. Nothing contained herein should be assumed to represent an official position of the College Board or any of its members.
2. Most assets held by moderate-and middle-income families are already excluded from consideratio... more 2. Most assets held by moderate-and middle-income families are already excluded from consideration. These excluded assets include retirement accounts, home and farm equity for principal places of residence, and businesses that employ fewer than 100 FTE employees.
Highlights • In fall 2014, 42% of all and 25% of full-time undergraduate students were enrolled i... more Highlights • In fall 2014, 42% of all and 25% of full-time undergraduate students were enrolled in community colleges. • Hispanic students were overrepresented in the public two-year sector; black students were overrepresented in the for-profit sector. • While inflation-adjusted published prices for community college students increased between 1995-96 and 2015-16, average net prices declined.
California). Each member of the team participated in the discussions and decision-making in the d... more California). Each member of the team participated in the discussions and decision-making in the development of the methodology and application over the course of 18 months, bringing unique perspectives and keen insights to the process. We especially thank Cathy Thomas and Kathie Little for their additional assistance, which extended far beyond their participation in the project team meetings.
institutions. The evidence provided here is intended to inform discussions of the rapid growth of... more institutions. The evidence provided here is intended to inform discussions of the rapid growth of the sector in recent years. Enrollments Between fall 2000 and fall 2009, full-time enrollment in degree-granting institutions in the for-profit sector increased from 366,000 to 1.5 million. In just nine years, the sector went from enrolling 4% of full-time students (and 3% of all students) to enrolling 11% of full-time students (and 9% of all students). Among students in this sector, 61% are enrolled in institutions that offer four-year degrees, 24% are in two-year institutions, and 15% attend less-than-two-year institutions. Undergraduates account for 86% of the total. Among students in the for-profit sector, 76% are enrolled full-time, compared to 62% of postsecondary students overall. 1
Disturbing anecdotes that are real but not representative can capture a lot of attention in the m... more Disturbing anecdotes that are real but not representative can capture a lot of attention in the media and cascade into widely accepted panics that are out of proportion to reality. Student debt is just one example of this phenomenon. Some proposed policy responses, such as forgiving and eliminating all student debt, would be very poor strategies even if they were feasible. Increased educational attainment has significant benefits both for society as a whole and for individuals. Although there is significant variation among people with the same level of education, people with college degrees generally earn much more than others. They can reasonably use a portion of their higher incomes to repay debt—as long as there is protection for people who run into unexpected difficulties.
This Article is brought to you for free and open access by UCI Law Scholarly Commons. It has been... more This Article is brought to you for free and open access by UCI Law Scholarly Commons. It has been accepted for inclusion in UC Irvine Law Review by an authorized editor of UCI Law Scholarly Commons.
Average loans per FTE graduate student Average loans per FTE undergraduate student and fellowship... more Average loans per FTE graduate student Average loans per FTE undergraduate student and fellowships to cover tuition and living expenses while they are enrolled. This brief reviews borrowing patterns and trends among advanced degree students, disaggregating by demographic characteristics as well as type of program and institutional sector. Differences in Annual Borrowing between Undergraduates and Advanced Degree Students Annual borrowing for higher education has risen dramatically over the past two decades. Between 1995-96 and 2005-06, the average amount borrowed among advanced degree students increased
W e believe the policies in this report would expand educational opportunities and would increase... more W e believe the policies in this report would expand educational opportunities and would increase both the equity and the efficiency of the federal investment in higher education .
Founded in 1983, Access Group, Inc. is a nonprofit membership organization comprised of nearly 20... more Founded in 1983, Access Group, Inc. is a nonprofit membership organization comprised of nearly 200 nonprofit and state-affiliated ABA-approved law schools. From providing financial education resources and services for students and schools, to supporting research and grant programs, data collection and analysis, to driving policy advocacy, Access Group works to promote broad access, increased affordability and the value of legal education specifically, and graduate and professional education more broadly. Access Group is headquartered in West Chester, PA; its Center for Research & Policy Analysis® is located in Washington, DC.
Higher education is an investment that pays off well for most students over the long run. Relying... more Higher education is an investment that pays off well for most students over the long run. Relying on loans to cover a portion of the costs is reasonable, and a federal student loan system that makes credit available on good terms is a critical component of higher education financing. The federal student loan system opens the door to college for many students by enabling them to access their future earnings to pay college tuition bills and other expenses they must cover while they are in school. But higher education is an investment that involves considerable uncertainty, and the student loan repayment system should mitigate the risk for borrowers, a risk that is increasing as college prices rise and reliance on debt increases. Historically, the student loan repayment system, under which almost all borrowers were on 10-year fixed payment schedules, did not account well for risk. The addition of income-driven repayment options has been a step in the right direction, but the current system is complicated and not carefully designed to appropriately apportion costs and risks across borrowers and taxpayers. The federal government should simplify the system, developing one income-driven repayment plan for all borrowers, with payroll withholding automatically adjusting required monthly payments.
•• The price of a public college education hasincreased rapidly, in large part because of
inadeq... more •• The price of a public college education hasincreased rapidly, in large part because of
inadequate public funding.
•• Promising free tuition would be a giveaway to the relatively wealthy.
•• Strengthening the need-based financial aid system is a more constructive strategy for
reducing inequality; a simple and predictable Pell Grant system and a well-designed
income-driven loan repayment program would significantly help students.
•• The federal government should strengthen its partnership with the states to ensure
that colleges and universities have the resources they need to educate students at
an affordable price.
Many assertions about the impact of student debt are grounded in weak evidence and problematic re... more Many assertions about the impact of student debt are grounded in weak evidence and problematic reasoning. It is difficult to sort out cause and effect, as opposed to similar trends, in much of the analysis of the relationship between student debt and asset formation, entrepreneurial activity, and home purchases. Few discussions of student debt clarify the alternatives—if people didn’t borrow for college would they manage to get the same education? If students didn’t borrow, who would pay and what would be the impact of higher taxes or reduced spending in other areas? Moreover, surveys of what people believe to be true are too often confused with evidence about what is actually true.
This project emerged from Jerry Davis' determination to find the best possible need-analysis syst... more This project emerged from Jerry Davis' determination to find the best possible need-analysis system in order to improve access to college funding for the neediest students. In addition to Jerry, many others made substantive contributions to the development of this report.
The facts presented in this study and the observations and viewpoints expressed are the sole resp... more The facts presented in this study and the observations and viewpoints expressed are the sole responsibility of the authors. They do not necessarily represent positions of the W.E. Upjohn Institute for Employment Research.
The national commitment to increasing postsecondary educational attainment, combined with growing... more The national commitment to increasing postsecondary educational attainment, combined with growing economic anxiety, has made community colleges the focus of many federal and state policy initiatives. There is good reason for this: by virtue of their nature and reach, community colleges—public institutions of higher education that predominantly award associate degrees and sometimes bachelor’s degrees—are indispensable to meeting national goals for educational attainment as well as for the development of a productive workforce. But no national system of community colleges exists, and national policies to improve opportunity and success at community colleges should reflect their diversity of students, programs, missions, and funding structures.
The Spencer Foundation was established in 1972 through the gift of Lyle Spencer and supports rese... more The Spencer Foundation was established in 1972 through the gift of Lyle Spencer and supports research about education. The Foundation currently funds individual investigators to pursue important research projects regarding educational issues. Traditionally the majority of grantees have been affiliated with academic departments in colleges and universities, the remainder being principally employed in schools of education. Lumina Foundation for Education, an Indianapolis-based private foundation, strives to help people achieve their potential by expanding access to and success in education beyond high school. Through grants for research, innovation, communication, and evaluation, as well as policy education and leadership development, Lumina Foundation addresses issues that affect access and educational attainment among all students, especially underserved student groups such as minorities, students from low-income families, first-time college-goers, and working adults. The Foundation believes postsecondary education is one of the most beneficial investments individuals can make in themselves and that a society can make in its people. The College Board is a not-for-profit membership association whose mission is to connect students to college success and opportunity. Founded in 1900, the association is composed of more than 5,400 schools, colleges, universities, and other educational organizations. Each year, the College Board serves seven million students and their parents, 23,000 high schools, and 3,500 colleges through major programs and services in college admissions, guidance, assessment, financial aid, enrollment, and teaching and learning. Among its best-known programs are the SAT ® , the PSAT/NMSQT ® , and the Advanced Placement Program ® (AP ®). The College Board is committed to the principles of excellence and equity, and that commitment is embodied in all of its programs, services, activities, and concerns. Disclaimer In all of its book publishing activities, the College Board endeavors to present the works of authors who are well qualified to write with authority on the subject at hand and to present accurate and timely information. However, the opinions, interpretations, and conclusions of the authors are their own and do not necessarily represent those of the College Board or the other project sponsors, or their offices or employees. Nothing contained herein should be assumed to represent an official position of the College Board or any of its members.
2. Most assets held by moderate-and middle-income families are already excluded from consideratio... more 2. Most assets held by moderate-and middle-income families are already excluded from consideration. These excluded assets include retirement accounts, home and farm equity for principal places of residence, and businesses that employ fewer than 100 FTE employees.
Highlights • In fall 2014, 42% of all and 25% of full-time undergraduate students were enrolled i... more Highlights • In fall 2014, 42% of all and 25% of full-time undergraduate students were enrolled in community colleges. • Hispanic students were overrepresented in the public two-year sector; black students were overrepresented in the for-profit sector. • While inflation-adjusted published prices for community college students increased between 1995-96 and 2015-16, average net prices declined.
California). Each member of the team participated in the discussions and decision-making in the d... more California). Each member of the team participated in the discussions and decision-making in the development of the methodology and application over the course of 18 months, bringing unique perspectives and keen insights to the process. We especially thank Cathy Thomas and Kathie Little for their additional assistance, which extended far beyond their participation in the project team meetings.
Uploads
Papers by S. Baum
inadequate public funding.
•• Promising free tuition would be a giveaway to the relatively wealthy.
•• Strengthening the need-based financial aid system is a more constructive strategy for
reducing inequality; a simple and predictable Pell Grant system and a well-designed
income-driven loan repayment program would significantly help students.
•• The federal government should strengthen its partnership with the states to ensure
that colleges and universities have the resources they need to educate students at
an affordable price.
inadequate public funding.
•• Promising free tuition would be a giveaway to the relatively wealthy.
•• Strengthening the need-based financial aid system is a more constructive strategy for
reducing inequality; a simple and predictable Pell Grant system and a well-designed
income-driven loan repayment program would significantly help students.
•• The federal government should strengthen its partnership with the states to ensure
that colleges and universities have the resources they need to educate students at
an affordable price.