Coherent ramblings for coherent minds video session 2 uva wise increasing cost

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Coherent ramblings for coherent minds video session 2 uva wise increasing cost

  1. 1.  The Price of Tuition is outpacing the rate of inflation Faster than medical care Students are borrowing more Parents have less to support their college bound children
  2. 2. $20,000 Cost of Attendance: Tuition/Fees/Room&Board$18,000$16,000 Tuition and fees (in-district/in-$14,000 state)$12,000 Room and board$10,000 $8,000 Total Cost of attendance (on- campus) $6,000 $4,000 *Data N/A for year 2001-02 $2,000 *Total cost = tuition and all fees + room and meal plan. $0 2000-01 2002-03 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10
  3. 3. Cost of Attendance: Changes in Educational and non- educational charges$9,000$8,000 Athletic Fee$7,000$6,000 Fees (non-educational)$5,000$4,000 Tuition&Fees (eductional)$3,000$2,000 Tuition and fees (in-district/in- state)$1,000 *Total tuition and fees = $0 educational and non- educational fees + Tuition
  4. 4. It’s a Cost Explosion!!!(with extra ‘splosion) Increase in Cost Paid By Students Year 200-01 to 2011-12$5,000$4,500$4,000$3,500$3,000 Athletic Fee$2,500 Fees (non-educational)$2,000 Tuition&Fees (eductional)$1,500$1,000 $500 $0 2000-01 2011-12
  5. 5. $5,000 Tuition and$4,500 Educational Fees$4,000 went up by 126% or $2,427 in 11 years$3,500$3,000$2,500 2000-01 $4,357 2011-12$2,000$1,500$1,000 $1,930 $500 $0 Tuition&Fees (eductional)
  6. 6. $4,000$3,500 Non-educational fees increased by 140% or$3,000 $1,964 in 11 years$2,500$2,000 Fees (non-educational) $3,364$1,500$1,000 $1,400 $500 $0 2000-01 2011-12
  7. 7. $1,200 Athletic Fee has$1,000 grown 85% or $507 in 11 years $800 $600 $1,098 Athletic Fee $400 $591 $200 $0 2000-01 2011-12
  8. 8. % Share of Total Cost % Share of Total Cost 2000-2001 2011-2012 42% 44% 56%58% % non-educational fees % non-educational fees make up total cost make up total cost % Educational Charges % Educational Charges make up of total cost make up of total cost
  9. 9. 11 year Average % Share 2000-2011 15% % Athletic fee make up of total cost57% 28% % non-educational fees make up of total cost % Educational Charges make up of total cost
  10. 10. Low Income Students: # of Students Applying and Receiving low income aid 900 800 700 Pell Grant Recipients 600# of Students 500 Dependents - Aid applicants below $30,000 (#) 400 Linear (Pell Grant Recipients) 300 Linear (Dependents - Aid 200 applicants below $30,000 (#)) 100 0 2000-01 2002-03 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10
  11. 11. # of students with financial need 1200 1000 800# of Students Full time undergraduates with 600 finacial need (#) Full-time undergraduates awarded need-based grant aid 400 *Some data for years 2002- 200 2003,2007-2008 N/A 0 2000-01 2004-05 2005-06 2008-09 2009-10
  12. 12. Educational and Non-educational Charges Historical Trend Fiscal Years 2000-2011 $8,000Amount of Charge $7,000 Athletic Fee $6,000 $5,000 $4,000 Fees (non-educational) $3,000 $2,000 Tuition&Fees (eductional) $1,000 $0 Tuition and fees (in-district/in- state)
  13. 13. Average Debt of Graduates$16,000$14,000$12,000$10,000 Average debt of $8,000 graduates Linear (Average $6,000 debt of graduates) $4,000 $2,000 $0 2000-01 2003-04 2007-08 2008-09 2009-10
  14. 14. % of Federal Loans Defaulted on 8.0 7.8 7.6 7.4% Default Rate 7.2 7.0 Default rate 6.8 Linear (Default rate) 6.6 6.4 6.2 6.0 2007-08 2009-10
  15. 15. I’ve come for the loan You can’t escape your student loan debt Gov’t can garnish your social security benefits Deny your access to Medicare Cannot discharge student loan debt in bankruptcy like you can credit card debt
  16. 16. 12,00010,000 Full Time 8,000 Enrollemnt Count 6,000 State Support Per 4,000 Student 2,000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
  17. 17. State General Fund Appropriation$18,000,000 State support grew$16,000,000 by $6,607,914 or 64%$14,000,000$12,000,000$10,000,000 $16,791,907 State General Fund $8,000,000 Appropriation $6,000,000 $10,183,993 $4,000,000 $2,000,000 $0 2000 2009
  18. 18. State Support Per Student$12,000 State support per student grew by $2,554$10,000 or 34% $8,000 $6,000 State Support… $10,128 $4,000 $7,574 $2,000 $0 2000 2009
  19. 19. $18,000,000$16,000,000$14,000,000 State General Fund$12,000,000 Appropriation$10,000,000 $8,000,000 Total Revenue from gross $6,000,000 tuition and fees $4,000,000 $2,000,000 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
  20. 20. Closing Comments I’ll gladly Tuition and fees are consume what reaching all new kinds of lil discretionary expensive income you Students need aid more have left after than ever college Almost half of the expense is non-educational related School is getting record state support while other schools are seeing theirs diminished Lowering cost can be done without sacrificing the pillars of a college education
  21. 21. Data Sources Collegeinsight Department of Education Delta Cost Project The Integrated Postsecondary Education Data System (IPEDS)
  22. 22. Looking for More? Coherent Ramblings for Coherent Minds Blog: http://introspectivegr adstudent.blogspot. com/ Twitter: @RobertMDavis1 Facebook: Robert Davis

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