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Graphs - Financial Aid

Net tuition and fees national 1993 to 2013

Independent college tuition, fees, and room and board have been stable, when adjusted for inflation and financial aid awards, for the last decade.

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cohort default rates Ohio only

Attending an Ohio independent college offers advantages beyond on time graduation.

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Ind share of higher ed funds

Marginal increases in appropriations do not come close to making up for the de-emphasis of state financial aid for students in the independent sector.

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Grant sources FY13

Federal grants, mostly Pell, to students attending Ohio independent colleges fell during 2012-13, but they still represented the second highest source of grant aid to students.

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instl aid thru FY2013

Financial aid from Ohio independent colleges' and universities' own resources (now exceeding $1.1 billion annually) has more than doubled in the last decade.

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Share of EFC zero

As the economic standing of prospective students falls, need-based financial aid needs to rise.

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Grad rate increase per $1k of aid

Need-based aid once again proves the key element in improved outcomes for low income college students.

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Nonborrowers

More than four out of five students attending two-year community and technical colleges around the nation find they do not need to borrow for their college education.

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Ohio ranks 36th among the 50 states in the level of need-based grant funds per student, and 39th when measured against the state's overall population.

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less need-based aid

Despite recent marginal increases, appropriations for need-based financial aid from the state of Ohio are lower than they were during the first year of Gov. George Voinovich's second term - even without accounting for inflation.

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Cost at public 4 for 0 EFC

In the five years since the radical cuts in state need-based aid, the net cost for a poor student to attend the average Ohio public university has more than quadrupled.

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Full time above and below 15 credit hours

More than half the undergraduates considered to be "full-time" by federal financial aid regulations are not taking enough credits to earn a degree on time.

For the complete report, click here.

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cohort default rates for 2013

Unlike those of other sectors, independent colleges' student loan defualt rates (the percentage of students who are more than 270 days delinquent within two years of entering repayment) did not rise in the most recent federal data.

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States generally, and Ohio in particular, have failed to return need-based financial aid to anything approaching pre-recession levels.

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A student who completes a degree or certificate at a for-profit college takes on more federal debt per credit than a student at an independent nonprofit college who does not complete.

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Ohio and US financial aid share

Ohio fails to come close to the national norm in its commitment to financial aid.

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Grant sources FY12V2

For the second consecutive year, independent colleges provided more than $1 billion to their students in financial aid grants and scholarships.

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OCOG max 13-14

An increase in appropriation directed toward needy public-sector students, along with an anticipated increase in eligible students in the independent sector and decrease in the public, led to changed award levels for the Ohio College Opportunity Grant for the coming academic year.

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Need-based aid FINAL for 2013

Need-based financial aid received only an incremental increase, targeted at students in the public and for-profit sectors, in the recently enacted Ohio biennial budget.

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institutional aid for 2013

Institutional grants and scholarships rose at AICUO member institutions by 4.5 percent last academic year, while during the same year tuition and fees rose 2.6 percent.

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Need-based aid for 2013

The Ohio House Budget Committee has approved a small increase in funding for the Ohio College Opportunity Grant for the next two academic years.

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Ind students who receive OCOG

More than 23,800 undergraduates at Ohio independent colleges shared $35.6 million in need-based financial aid from the state in the previous academic year.

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Pell authorized v max through FY2013

The "sequester" will have no effect on the Pell Grant level for the 2013-14 academic year.

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Default rate of OCOG offering for profits

More than half of the for-profit colleges whose students receive Ohio College Opportunity Grant have three-year default rates that are higher than their sector's state and national average, and far above those of Ohio's independent and public colleges and universities.

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Cost at public 4 for 0 EFC through 2012-13

In four years, the remaining cost for the state's neediest families to send a student to an Ohio public university, after state and federal financial aid, has quadrupled.

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Default rate 3 yr Ohio v US

In the new three-year loan default rates, borrowers from Ohio independent colleges have a better record than those from other Ohio institutions and their nonprofit peers nationally.

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Institutional aid from Ohio public campuses

While independent colleges have long offered financial aid grants from their own resources, the state's public campuses - their tuition already lowered by taxpayer-funded institutional subsidies - are increasingly using merit-based and other grants for their own enrollment management purposes.

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Grant sources FY11

Draconian cuts in state financial aid have placed an increasing burden on independent colleges and the federal government to provide financial aid grants to their students, as just four years earlier the state provided $80 million - 9 percent of the total awarded.

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Institutional aid for 05-30-12

For the first time, Ohio's independent colleges have awarded more than $1 billion in student grants and scholarships from their own resources in a single year, representing 82 percent of all such aid received by their students.

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change in per FTE

Over the last two decades, while the states' commitment to student financial aid, measured in constant dollars, doubled, Ohio's dropped by 40 percent.

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OCOG max

There is only slight improvement in next year's grants for Ohio's neediest students.

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cost to attend 4 yr vs fed aid

In just three years, state policy changes have led to the out-of-pocket cost for the state's neediest students of attending an Ohio public university to nearly quadruple.

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fed aid to props

Over a ten-year period, while the amount of federal student aid grants including Pell and loans grew by more 150 percent, the amount of this student aid received by for-profit higher education institutions nearly quintupled and their share of the total nearly doubled.

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state need based aid

Ohio has under-funded need-based student aid for decades, but policy initiatives from two years ago have made the problem more acute than ever.

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need-based aid 10-11

The small increase in need-based financial aid in the current state budget only begins to repair the recent damage to Ohio's commitment to the higher education of its neediest citizens.

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default rate Ohio v US

Borrowers from Ohio independents have a lower default rate on student loans than their peers nationally. This cannot be said for other sectors, especially for-profit colleges.

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Student success at Ohio's traditional colleges and universities is less reliant on students' ability to borrow.

Note: Credentials include degrees and certificates.

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CFOs concerns at for-profits

While business officers at independent nonprofit colleges and universities worry about whether students will come and can afford to attend, at for-profit colleges the key concern is availability of tax money to support their businesses.

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Choice v residency

The repeal two years ago of the Student Choice Grant, which supported Ohioans attending in-state independent colleges, eliminated a key incentive for students to stay in their home state for their education.

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OCOG max 2011/12

In its recently enacted budget, the state of Ohio kept the Ohio College Opportunity Grant alive, but could not return its level of support for needy students to its level of just three years ago.

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loan defaults fy 2009

Students from for-profit colleges are disproportionatley more likely to default on their student loans.

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Institutional aid FY10

Ohio's independent colleges continue to increase their investment in financial aid from their own resources. This commitment has more than doubled in ten years, and more than tripled over 12 years.

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OCOC Redistribution V2

The newest proposal on financial aid to the state's neediest students promotes a radical shift in focus.

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OCOG cuts May 2 2011

Newly proposed changes in the Ohio College Opportunity Grant for the next two academic years will cut the state's support for its poorest students attending independent colleges by nearly two thirds over this year, and nearly seven eighths over just three years.

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pell by EFC

in the most recent report, half or more of Pell Grant recipients nationwide, depending on sector, cannot contribute a single dollar to their college education; and between two thirds and three fourths can only afford $1,000 or less.

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cost for neediest citizens

By redistributing its higher education funds to limit public-campus tuition increases and simulataneously slash need-based aid, the state of Ohio more than tripled the out-of-pocket tuition at the public baccalaureate campuses for its poorest citizens.

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share of state funds

The attempt to promote student access, by first freezing then limiting public-sector tuitions even as total higher education appropriations shrank, squeezed student financial aid and gave public-campus subsidy larger shares of smaller pies.

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institutional need

The nation's public colleges and universities are catching on to something that independents have been focusing on for years: using grant aid from their own resources to meet student need.

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loan default

No one is proud of the number of students who default on their student loans, especially those shown here who default within two years of leaving college, but there is considerable variation within higher education sectors.

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shrinking aid

As the new fiscal year starts, Ohio's commitment to the higher education of its neediest citizens continues to shrink.

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aid

In the 2008-2009 academic year, Ohio's independent colleges increased the amount of student aid they gave from their own resources by 8.1 percent.

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aid shrink

Ohio's commitment to its neediest college students will continue to shrink in the next academic year.

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freshman loans

For the first time in this decade, more than half of entering first-year students in 2009 secured "aid that must be repaid" - i.e., loans - to support their college education.

For more information, visit the Freshman Survey section of the Higher Education Research Institution at the University of California at Los Angeles: www.heri.ucla.edu.

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The financial commitment of Ohio’s independent colleges to their own students has nearly tripled over a ten-year period.

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aid

As the start of the new school year approaches, campuses across the state, both public and private, are scrambling to help students faced with massive — and in one sector, total — cuts in state need-based financial aid.

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aid cuts

 

Colleges around the state are now scrambling to help this fall's students, many of whom face thousands of dollars in state financial aid cuts.

 

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matriculation

Ohio independent colleges and universities have been able to educate increasing numbers of students from their home state, thanks to state programs such as the Student Choice Grant. The future with much more limited funding is cloudy.

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grant aid

Cuts in state aid - 10 percent less than the prior year - have placed more pressure on Ohio's independent colleges to assist students from their own funds. And they have responded by increasing student grants by almost 10 percent.

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continued cuts in aid
Changes in the state's financial aid programs proposed in the Executive Budget would drastically reduce the share that students at Ohio's independent colleges receive.
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stimulus bill results
The outcome of the just-signed American Recovery and Reinvestment Act of 2009 - the "stimulus bill" - was most beneficial to students with financial need, as the maximum Pell grant will leap even higher than last week's chart (below) anticipated.


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fed commitment to needy
The federal commitment to needy students - finally unstuck after years of underfunding - may become even more substantial, depending on the progress of the economic stimulus bill that is headed to a House-Senate conference.
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student borrowing
While a higher share of students borrow to attend private colleges, the percentage difference between public and private sectors is not as great as you might believe.
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OCOG v OIG
The newer need-based OCOG aid program offers a smaller share of money overall to students at independent campuses - although with a larger average grant - than the old OIG for two reasons. First, the difference in awards in OCOG to students at public and private colleges reflects less of the difference of the tuition charged by each sector than in OIG. Next, part-time students who constitute a larger share of enrollment at two-year and for-profit colleges are eligible for an OCOG award but not for an OIG.
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Independent College Shares of Student Headcount and State of Ohio Higher Education Funds (not including capital funds)

Academic Year 2006-2007/Fiscal Year 2007

private school share of headcount

If you factor in money from the state's capital budget that supports infrastructure at public campuses, the share the state offers to independent colleges toward meeting Ohio's higher education goals shrinks even more.

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aid

Ohio's independent colleges award more than 3/4 of the grants received by their students - a commitment to their students unmatched by any other education sector.

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aid increases

Ohio's independent colleges have a large and increasing share of providing financial aid grants to their students - totaling nearly 3/4 of a billion dollars in the 2006-07 academic year.

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aid v. tuition

The total dollars awarded in institutional financial aid grants by AICUO members jumped by 136 percent in a decade, far outstripping the 10-year increase in tuition and fees of 61%.

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aid sources

This fall, nearly 2/3 of the financial aid given to first-time, full-time freshman at AICUO member institutions came from the institutions themselves.

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Undergraduate Financial Aid by Source

 

private aid

 

Ohio's independent colleges are the single largest source of financial aid to theirstudents - a half billion dollars annually.

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Student Choice Grant Levels

SCG

Although the current state budget cut the Student Choice Grant for Ohio students at the state’s independent colleges by almost a third, the grant still removes more than $2,500 from a student’s loan debt after four years of study.