August 9, 2012
New Employment & Financial Aid Data Released
Yesterday, the National Center for Education Statistics (NCES) published a report summarizing fall 2011 employment data and academic year 2010-11 student financial aid data submitted by all Title IV institutions to the Integrated Postsecondary Education Data System (IPEDS).
Here are some of the findings:
ON EMPLOYMENT:
-
Public institutions offered more employment opportunities to graduate students than private ones: fully 17% of the public institutions’ labor force was composed of graduate students, while the figure stood at 7% for private non-profits and 0.3% for private for-profit institutions.
-
Private for-profit institutions relied heavily on part-time instructors: 86% of the staff engaged in instruction, research and/or public service at these institutions was reported as part-time, while 36% of public institution instructional staff and 30% of private nonprofit institution instructional staff fell in that category.
ON FINANCIAL AID:
-
For those attending public four-year institutions, average cost of attendance before aid was approximately $17,600 and net price was about $11,000; for those attending nonprofit institutions, average cost before aid was twice as high – approximately $34,000 – while net price was about $19,800; finally, for those attending for-profit institutions, average cost before aid was approximately $27,900 and net price was about $22,500. The average cost of attendance includes tuition and required fees, books and supplies, room and board, and other expenses.
-
An analysis of the average amount of total Title IV aid received by students per income category demonstrates public institutions’ focus on targeting those most in need: public institutions covered 53% of the total cost for students with family income below $30,000, and only 10% of the cost for students with family income above $110,000. The following table provides more detail on the comparable figures for private institutions.
Average Title IV aid
and average price before aid by type of institution,
academic year
2010-11
|
Family Income Level |
|||||
|
$0-30,000 |
$30,001-48,000 |
$48,001-75,000 |
$75,001-110,000 |
$110,001 + |
|
|
Public |
|
||||
|
Average Aid |
9,288 |
7,869 |
4,742 |
2,328 |
1,703 |
|
Aid Ratio |
53% |
45% |
27% |
13% |
10% |
|
Avg. Net Price |
8,286 |
9,705 |
12,832 |
15,246 |
15,871 |
|
Private Nonprofit |
|
|
|
|
|
|
Average Aid |
18,190 |
17,687 |
15,262 |
13,090 |
10,515 |
|
Aid Ratio |
54% |
52% |
45% |
39% |
31% |
|
Avg. Net Price |
15,798 |
16,301 |
18,726 |
20,898 |
23,473 |
|
Private For Profit |
|
|
|
|
|
|
Average Aid |
5,472 |
4,517 |
2,467 |
962 |
853 |
|
Aid Ratio |
20% |
16% |
9% |
3% |
3% |
|
Avg. Net Price |
22,336 |
23,292 |
25,342 |
26,847 |
26,956 |
The release of this information by the NCES coincides with an emerging effort aimed at “reimagining aid design and delivery” supported by the Bill & Melinda Gates Foundation, which was the subject of a recent article on Inside Higher Ed. We will keep abreast of developments related to this effort and provide updates as more information emerges in the next few months.