Financing Higher Education 2013

Financing

Higher Education

2013

New Englanders pay just $179 per capita toward higher education, compared with $230 per capita nationally, according to a NEBHE analysis of data from the Illinois State University Center for Higher Education and Education Finance.

That low state support continues to lead to higher tuition and fee rates. New England's public and private two-year and four-year colleges continue to be more expensive on average than the U.S. average, though this gap is closing as New England institutions have been trying to minimize increases, while their peers around the country are raising prices.


Figure FIN 1: Average Tuition and Mandatory Fees and Room and Board Charges, New England vs. United States, Academic Year 2012-13

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Note: Room & board charges for commuter students are average estimated living expenses for students living off-campus but not with parents.
Source: The College Board, Trends in College Pricing 2012, Table 6: Average Student Expenses by College Board Region, 2012-2013 (Enrollment-Weighted), Reprinted with permission. All rights reserved.


Figure FIN 2: Tuition and Mandatory Fees, Academic Years 2011-12 & 2012-13

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Note: Figures for public institutions show rates for state residents.  All data are enrollment-weighted averages, intended to reflect the average costs that students face in various types of institutions.  Non-enrollment weighted averages can be found in NEBHE's 2012 Tuition and Fee report.
Source: The College Board, Trends in College Pricing 2012, Table 5: Average Tuition and Fees by Region and Institution Type, in Current Dollars, 2012-2013 (Enrollment-Weighted). Reprinted with permission. All rights reserved.


Figure FIN 3: State Fiscal Support for Higher Education by State, FY 2012 and FY 2013

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Note: Fiscal 2013 figures on state support for higher education represent initial allocations and estimates reported by the states and are subject to change. State monies include state tax appropriations and other state funds allocated to higher education.  Calculations for FY2012 fiscal support per $1,000 in personal income and per capita include federal stimulus funds. Federal stimulus stabilzation funds include funds used to restore the level of state support for public higher education. Federal stimulus government services funds exclude funds used for modernization, renovation or repair.
Source: New England Board of Higher Education analysis of data from Illinois State University Center for Higher Education and Education Finance.


Figure FIN 4: State Fiscal Support for Operating Expenses of Higher Education per $1,000 of Personal Income in New England and the United States, 2013

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Source: New England Board of Higher Education analysis of data from Illinois State University Center for Higher Education and Education Finance.


Figure FIN 5: Student Financial Aid Breakdown by Source of Aid and Loan per FTE, 2002-2012

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Source: College Board, Trends in Student Aid 2012. Copyright ©2011 The College Board. All rights reserved.


Figure FIN 6: Federal Student Financial Aid Programs: Total Expenditures or Allocations and Number of Recipients

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Note: Spending on federal campus-based programs is reported as 2012-13 allocations. Spending on Pell Grants is reported as 2010-11 expenditures.
* Level of Expenditure (LOE): A school must request and have approved for each award year an LOE authorization that represents the maximum amount it may expend from its revolving Federal Perkins Loan fund.
Source: New England Board of Higher Education analysis of U.S. Department of Education data.


Figure FIN 7: Total State Grant Aid Awarded in Academic Years 2000-01, 2005-06, 2009-10, 2011-12

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Note: Figures may not include aid funds provided through entities other than the principal state student aid agency.
Source: National Association of State Student Grant and Aid Programs.


Figure FIN 8: State Need-Based Aid as a Percentage of Federal Pell Grant Aid, 2010-11, and Net Price as Percent of Family Income

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Note:  Net price includes tuition and room and board less federal, state need and non need based aid, and institutional aid.
* Includes duplicate recipient
Source: New England Board of Higher Education anlaysis of data from National Association of State Student Grant and Aid Programs and U.S. Department of Education and National Center for Higher Education Management Systems (NCHEMS) data.


Figure FIN 9: Distribution of Federal Aid Funds by Sector in the United States, 2011-12

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Note: SEOG and FWS funds reflect federal allocations made to institutions. These dollars do not include the required matching funds from institutions (which were included in similar figures in past editions of Trends in Student Aid). Percentages may not sum to 100 because of rounding.
Source: New England Board of Higher Education analysis of College Board data.


Figure FIN 10: Average Student Debt and Percent of Students with Debt, Class of 2011

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Source: New England Board of Higher Education analysis of data from the Project on Student Debt.


Figure FIN 11: New England's 10 Largest College Endowments, FY 2012

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Note: Enrollment data include total undergraduate enrollment, full- and part-time, for Fall 2011 as reported by the National Center for Education Statistics.
Source: New England Board of Higher Education analysis of 2012 National Association of College and University Business Officers Endowment Study.


Figure FIN 12: State Fiscal Support for Operating Expenses of Higher Education per $1,000 of Personal Income in New England, 1962 to 2013

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Source: New England Board of Higher Education analysis of data from Illinois State University Center for Higher Education and Education Finance.

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