Trends in Student Aid, 2015. Trends in Higher Education Series

College Board, 2017

The sources of the grant aid supporting students have changed over time. In 2006-07, 43% of all grant aid came from the colleges and universities in which students enrolled and 28% came from the federal government. With the sharp increase in federal grants during the Great Recession, the federal share peaked at 44% in 2010-11, and the institutional share fell to 35%. But since then, institutional grant aid has increased rapidly, as both enrollment and federal grant aid have declined. In 2016-17, institutions provided 47% of all grant aid to postsecondary students. The impact of this $58.7 billion tuition discount is best understood in the context of the increases in published prices reported in Trends in College Pricing 2017. Trends in Student Aid 2017 reveals a continuing decline in annual education borrowing, which fell (in inflation-adjusted dollars) in 2016-17 for the sixth consecutive year. Federal education loans per FTE undergraduate student followed the same pattern, but the average amount borrowed by graduate students increased for the second year in a row-to $17,710, almost four times as high as the $4,620 in federal loans per undergraduate student.

College Board, 2016

Estimated figures represent best approximations and are updated each year as additional information becomes available. Nonfederal Loans: Estimates for 2011-12 through 2015-16 are based on data provided by the Consumer Bankers Association, MeasureOne, and the Consumer Financial Protection Bureau. Earlier data are based on information provided by lenders supplemented by data from annual reports and from NPSAS 2008. Estimates of institutional lending are based on NPSAS 2008 and 2012, as well as a survey of institutions conducted for the College Board by the National Association of Student Financial Aid Administrators (NASFAA). Data on loans from states are based on information collected from staff of statesponsored private loan programs or state grant agencies, in addition to NASSGAP.

2003

Highlights supplement family and student payments over the decade from 2002-03 to 2012-13, making higher education financially accessible. Increases in total funds are important indicators of the resources being devoted to student assistance. But these figures may create an overly optimistic view of the benefits available to individual students because they do not account for increases in the number of students enrolled in postsecondary education.

College Board, 2014

See the Trends in Higher Education website at trends.collegeboard.org for the figures and tables in this report and for more information and data. About the College Board The College Board is a mission-driven not-for-profit organization that connects students to college success and opportunity. Founded in 1900, the College Board was created to expand access to higher education. Today, the membership association is made up of over 6,000 of the world's leading educational institutions and is dedicated to promoting excellence and equity in education. Each year, the College Board helps more than seven million students prepare for a successful transition to college through programs and services in college readiness and college success-including the SAT ® and the Advanced Placement Program ®. The organization also serves the education community through research and advocacy on behalf of students, educators, and schools. For further information, visit www.collegeboard.org. Trends in Higher Education The Trends in Higher Education publications include the annual Trends in College Pricing and Trends in Student Aid reports and the Education Pays series, along with How College Shapes Lives and other research reports and topical analysis briefs. These reports are designed to provide a foundation of evidence to strengthen policy discussions and decisions. The tables supporting all of the graphs in this report, a PDF version of the report, and a PowerPoint file containing individual slides for all of the graphs are available on our website trends.collegeboard.org.

2001

2011

The College Board is a mission-driven not-for-profit organization that connects students to college success and opportunity. Founded in 1900, the College Board was created to expand access to higher education. Today, the membership association is made up of more than 5,900 of the world's leading educational institutions and is dedicated to promoting excellence and equity in education. Each year, the College Board helps more than seven million students prepare for a successful transition to college through programs and services in college readiness and college success-including the SAT ® and the Advanced Placement Program ®. The organization also serves the education community through research and advocacy on behalf of students, educators and schools. For further information, visit www.collegeboard.org. College Board Advocacy & Policy Center The College Board Advocacy & Policy Center was established to help transform education in America. Guided by the College Board's principles of excellence and equity in education, we work to ensure that students from all backgrounds have the opportunity to succeed in college and beyond. We make critical connections between policy, research and real-world practice to develop innovative solutions to the most pressing challenges in education today. advocacy.collegeboard.org TRENDS IN HIGHER EDUCATION SERIES TRENDS IN STUDENT AID 2011 3 For detailed background data and additional information, please visit http://trends.collegeboard.org.

1995

This report was designed to provide complete and comparable statistics on student aid for all California postsecondary institutions from 1990 through 1994. It includes information on all major sources of financial aid, the types of aid available, the amount of funding for each type, and the distribution of student aid dollars among the three public postsecondary education sectors (the Community College systems) and the independent colleges and universities. The data indicate that: (1) financial aid has not kept pace with increases in the costs of higher education; (2) most of the current financial aid available is in the form of loans, leading to a rapid increase in student borrowing; (3) most of the increase in grant aid at public institutions has come from student fee dollars "recycled" for financial aid to other students; and (4) University of California students now receive more state grant aid dollars than students from private institutions. The results of this study reinforce the need for public debate about the role of student aid in the funding of higher education. Graphs and tables present details of the study's findings. (MDM)

2016

2016

T his report draws upon National Surveys of Access and Finance Issues for the five years following the end of federal stimulus funding during the Great Recession. What has happed to public education and why? We find the following: The economic recovery following the Great Recession continues: In 2015 legislative sessions, respondents from just ten states report "Recession, producing a decline in state revenues" as a top budget driver, the lowest rating since 2006. As in 2014 7 , during 2015 state legislative sessions, Elementary and Secondary Education and Medicaid were the top two budget drivers. Respondents from just six states report midyear cuts at their public community colleges and regional and flagship universities. But competition continues to be fierce: Public higher education competes with transportation/highways, unfunded pensions, corrections, tax cuts, and health care costs associated with the Affordable Care Act for new revenues. 8 Given the need to fund K-12 teacher and state employee salary increases and long-delayed infrastructure, public higher education faces fierce competition for state tax revenues in 2016. The recovery of operating budgets is slow: State appropriations for elementary and secondary education, community colleges, regional universities, and flagship universities for FY2015-16 are predicted to increase by 3%, 3%, 2%, and 2.5%, respectively. But state appropriations fail to cover the predicted 2.1% Higher Education Price Index 9 (HEPI) 2015 inflation rate for community colleges in 18 states, regional universities in 17, and flagship universities in 16 states. Since the Great Recession, most states have not appropriated at inflation levels. In the five years since federal stimulus funds ended in 2011, just two states appropriated operating funds for public higher education at or above the rate of inflation. Tuition hikes continue due to state disinvestment: States that choose to appropriate operating budgets below the inflation rate force their institutions to raise tuition. In FY2015-16, tuition will rise at community colleges, regional universities, and flagships by 3%, 4%, and 3.5%, respectively. Tuition is predicted to rise above the 2.1% HEPI for community college students in 25 states, regional university students in 28 states, and flagship university students in 26 states. State student aid is not keeping up: In 2015, as in the preceding four years, two out of three states report increasing state student aid below the HEPI inflation rate. Policy alignment exists in just two states: "High tuition/high aid" requires policy align ment, but operating budgets, state student aid, and tuition policies are unaligned in six of every seven states in 2015, and in every year since 2011. Access threats exist in 16 states: Respondents report access threats (enrollment caps, turning away students, insufficient capacity, etc.) for each of the three public higher education sectors. These 16 states enrolled 41% of all students nationwide in Fall 2013. Rural community colleges face the greatest fiscal strain. Over half of respondents predict their urban and nearly half predict their suburban community colleges will face great fiscal strain, but nearly all report their rural community colleges will do so.

International Higher Education

The general notion of a student debt “crisis” in the United States is rooted in misperceptions. The problems lie largely with students who leave school without a credential, with those who attend for-profit institutions, and with older adults returning to school—not with young, four-year college graduates.