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Private Colleges in the Public Interest: Presentation to Kentucky House Postsecondary Budget Review Subcommittee

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Association of Independent Kentucky Colleges and Universities (AIKCU) presentation to Kentucky House Postsecondary Budget Review Subcommittee, February 25, 2010.

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Private Colleges in the Public Interest: Presentation to Kentucky House Postsecondary Budget Review Subcommittee

  1. 1. Private Colleges in the Public Interest: Kentucky’s Independent Colleges and Universities Gary S. Cox, Ph.D President (502) 695-5007 gary@mail.aikcu.org http://aikcu.org 1
  2. 2. Kentucky’s 20 independent colleges and universities: The 10th component of Kentucky’s postsecondary education system • 20 independent, nonprofit colleges and universities. All are accredited by the Southern Association of Colleges and Schools (SACS) and meet the same rigorous quality standards as KY’s public colleges and universities. • 31,000+ total students. 75% Kentucky residents. • Diverse campuses, missions and student bodies. Provide critical choices and access to postsecondary opportunities. Locations from Pikeville to Mayfield and beyond via traditional campuses, extended sites, KCTCS and business partnerships, distance learning, and study abroad. • Firmly committed to goals of 1997 House Bill 1. Work closely with CPE to establish and measure sector accountability goals. Regional and local stewards. 2
  3. 3. Diverse campuses serving diverse students • Geographic: 75% of the 31,000+ students are Kentucky residents. Students from all 120 counties, most states, 108 countries. • Age: 1 in 5 is an adult student (over 24) • Racial: 10.1% of undergraduates are minorities. 7.5% of undergrads are African-American. Minority enrollments range from 2% to 28%. • Economic: 40% receive federal Pell grants • Academic Preparation: Admissions standards range from open admissions to highly selective • Program delivery models: traditional residential, distance learning, community-based programs, KCTCS partnerships, accelerated degree completion, graduate programs 3
  4. 4. Kentucky’s 20 nonprofit, independent colleges and universities 4
  5. 5. Independent colleges are affordable • Average tuitions 1/3 less than national private college average and 1/4 less than Southern average. 2009-10 average published tuition and fees = $18,055. • 2009-10 tuition increases under 5%. • Net price students actually pay is very different from published price. Colleges discount tuition 40%, on average. • Working aggressively to control costs through partnerships, greater efficiencies and innovations. • Serving high need students. 40% of all undergraduates qualify for Pell Grants. • Institutions are largest source of aid for students, providing about $3 for every $1 provided by Kentucky. Three-legged student financial aid partnership (State Aid + Federal Aid + Institutional/Private Aid) is working. • Timely graduation means quicker entry into workforce or graduate/ professional school, therefore fewer tuition payments and less foregone income. • Relatively low average debt at graduation. 5
  6. 6. Kentucky’s investment in AIKCU students is less than 4.5% of total state postsecondary spending ($2.2 million) Other CAP 4% 17% KEES ($9.5 million) 28% 84.4% State financial aid ($15.2 million) State postsecondary 4.4% to AIKCU students ($54.9 million) appropriation ($1.06 billion) 11.2% KTG State financial aid to students in 51% ($27.8 million) other sectors ($140.6 million) Total State Postsecondary Spending Kentucky’s Investment in AIKCU Students Sources: CPE - 2008-09 state appropriation budget data. Includes public institutions, CPE operations, adult education and special programs KHEAA - 2008-09 student financial aid data 6
  7. 7. Kentucky’s $52.6 million FY09 investment in financial aid to AIKCU students through CAP, KTG, KEES Average Maximum Total AIKCU Total AIKCU Program Eligibility Purpose AIKCU Award Awards Receipts Award • Financial need; tied to College Access Pell Grant eligibility $1900 • Assist low income students 5,946 $9,537,569 $1,604 Program (CAP) • At least half-time student • Assist low/moderate income students attending independent colleges Kentucky Tuition • Financial need • Recognize cost-effective role $2964 • Full-time independent independent colleges play in 10,481 $27,841,839 $2,656 Grant (KTG) college student educating Kentucky students by providing up to 1/2 of per-student subsidy received by public institutions Kentucky • Graduate of KY HS or Educational GED program • HS GPA of 2.5 or • Reward academic achievement Excellence $2500 better • Retain Kentuckyʼs best students 9,479 $15,238,495 $1,608 Scholarship • ACT score of 15 or (KEES) better Source: KHEAA, Jan. 2010 7
  8. 8. Percent of KY Resident Undergraduates Receiving State Aid by Program Alice Lloyd College Asbury College Bellarmine University Berea College Brescia University Campbellsville University Centre College Georgetown College Kentucky Christian University Kentucky Wesleyan College Lindsey Wilson College Mid-Continent University Midway College Pikeville College Spalding University St. Catharine College Thomas More College Transylvania University Union College University of the Cumberlands 0 20 40 60 80 100 CAP KTG KEES 8
  9. 9. Kentucky’s Return on Investment • 22% of Kentucky’s bachelor’s degrees. • Campuses provide well over $1 billion in educational facilities. More than $100 million in new or renovated academic facilities in the last four years. • 100,000 alumni in Kentucky generate $4 billion in annual earnings and $416 million in state tax revenues. • Combined total annual economic impact of more than $1.4 billion. Responsible for creating more than 12,000 jobs in Kentucky. 9
  10. 10. Annual Economic Impact of Kentucky’s Independent Colleges and Universities = more than $1.48 billion Total economic impact (in millions), by spending category Direct Indirect 800 700 600 500 400 300 200 100 0 Institutional Expenditures Capital Expenditures Source: Private Colleges, Public Benefits: The Economic and Community Impact of Kentucky’s Independent Colleges and Universities on the Commonwealth of Kentucky. Human Capital Research Corporation, 2006. http://www.aikcu.org/wp-content/uploads/2007/08/Private%20Colleges,%20Public%20Benefits%20-%20AIKCU%2011-1-06.pdf 10
  11. 11. Independent colleges promote timely graduation Percent of first-time, full-time students who graduate in... 50 40 30 20 10 0 4 years 5 years 6 years AIKCU KY Public Universities Source: IPEDS, Fall 2001 GRS Revised Cohort of first-time, full-time bachelor’s degree seeking students 11
  12. 12. AIKCU Total Headcount Fall Enrollment, 1999-2008 31,264 30,411 29,041 26,908 27,440 26,151 25,252 25,532 24,764 23,836 23,206 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009* Source: CPE Comprehensive Database *Estimated Fall Enrollment 12
  13. 13. AIKCU Bachelor’s Degrees, 2000-2008 4,200 4,191 3,902 3,881 3,779 3,801 3,575 3,555 3,453 3,150 3,271 2,100 1,050 0 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 AIKCU enrolls about 19% of KY’s bachelor’s degree seeking students and produces 22% of bachelor’s degrees. Source: CPE Comprehensive Database 13
  14. 14. Growth in transfer from KCTCS to AIKCU 1,100 1,093 926 938 825 550 583 514 402 358 351 365 275 0 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 Source: CPE Comprehensive Database 14
  15. 15. The recession has caused AIKCU members to question and evaluate everything... • Operations • Tuition and aid policies • Personnel and staffing • Strategic plans • Administrative costs • Investments ...except fundamental commitments to • supporting • academic • institutional students integrity missions 15
  16. 16. Institutional strategies • Putting additional institutional funds into need- based aid • Developing innovative programs and new delivery models • Promoting collaboration and expanding offerings to adult and underserved populations • Instituting salary freezes, leaving positions unfilled, combining positions, postponing projects, reducing overtime, etc. 16
  17. 17. You can count on me wearing you out with ideas and questions - some of them tough ones - about how we conduct our business. Centre College President John Roush in a fall 2009 address to faculty and staff 17
  18. 18. Already modest endowments have lost a combined $227 million (13.6%) since 2008 AIKCU member endowments by value (2010) 7 7 3 3 Less than $10 million $10 to 30 million $30 to 50 million $100 million plus 18
  19. 19. AIKCU efforts to build strength through collaboration • Developing business partnerships for cost containment and increased efficiencies: office supplies, insurance, information technology, fuel, many more • Resource and information sharing • Providing low cost professional development • Building relationships with public institutions and agencies (KCTCS, KYVL, CPE, EPSB, MoSU-EKU-AIKCU Appalachian Education Initiative, others) to promote common good 19

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