Harvard College - 1636

1. Harvard College - 1636

2. Harvard University which began in 1636 was the first American College. Harvard also stared the first financial aid system. Harvard had established a student loan program by 1840 and… had the best-funded scholarship program by 1878.http://www.chessconsulting.org/financialaid/profession.htm

4. Thomas Jefferson always has played a prominent role at Mizzou. Founded in 1839, MU was the first public university west of the MississippiRiver. The legislative act that created MU more than 160 years ago incorporated some of Jefferson's ideas on higher education. Francis Quadrangle reflects Jefferson's design for the University of Virginia.

5. 1862 Morrill Act for Land Grant Colleges encouraged states to establish public universities by providing federal land and financial support. The original mission of these land grant colleges, as described in the 1862 Morrill Act, was to teach agriculture, military tactics, and the mechanical arts, as well as classical studies, so that members of the working classes could obtain a liberal, practical education. In 1867, the first U.S. Office of Education was created. Its role was limited to gathering and disseminating information about the status of education.

6. 1.5 million students are enrolled in Colleges & universities 1940

7. GI BILLAct of June 22, 1944The Servicemen's Readjustment Act of 1944 put higher education within the reach of millions of veterans of World War II and later military conflicts.

8. 1944 First government aid for individual college students: the G.I. Bill for returning veterans of World War II. The Serviceman's Readjustment Act, popularly known as the G.I. Bill, provided veterans with funds for tuition, fees, books and supplies, and living expenses. This was the first major program to provide student financial aid to individuals instead of to institutions. The technological and educational advances of the post-World War II era were brought about by this national investment in postsecondary education.

9. 1958 National Defense Education Act passed in response to U.S. concern about the Soviet Union's launch of the first space satellite. On October 4, 1957, the U.S.S.R. launched the first space satellite, Sputnik. U.S. attention focused on building the technological skills required to compete with the Soviets. The National Defense Student Loan (NDSL) Program, which funded student loans for higher education in critical fields of study such as mathematics, science, and foreign languages, was the first student financial aid program for non-veterans.

10. 1964 Economic Opportunity Act, a Great Society initiative, included College Work-Study (CWS) Program for financially needy students. Education was a cornerstone of President Lyndon B. Johnson's Great Society. The Economic Opportunity Act recognized the economic and social impact of education and created the College Work-Study Program (later renamed the Federal Work-Study Program), which offered students part-time employment opportunities while pursuing their college degrees.

11. 1965 Higher Education Act (HEA) reauthorized the NDSL and CWS Programs and added• Educational Opportunity Grant (EOG) Program• Guaranteed Student Loan (GSL) Program Title IV of the HEA authorized, and continues to authorize, most federal student financial aid programs. In 1965 it reauthorized the National Defense Student Loan (NDSL) and College Work-Study (CWS) Programs and added the:• Educational Opportunity Grant Program, which was intended to increase college opportunities for low- income students. Recipients are selected by colleges, using federal guidelines• Guaranteed Student Loan (GSL) Program, which allowed  students with no credit history to borrow from private  lenders for college expenses. The loans are guaranteed by  the federal government if a borrower defaults

12. Higher Education Act of November 8, 1965

13. 1972 HEA Amendments • Created Basic Educational Opportunity Grant (BEOG) and State Student Incentive Grant (SSIG) Programs• Proprietary schools became eligible for Title IV funds • National Defense Student Loan Program renamed National  Direct Student Loan Program• Extended GSL Program • A new "portable" grant program, Basic Educational  Opportunity Grant (BEOG), was created for use at any  eligible postsecondary school by students meeting  specific financial need criteria. Unlike other programs,  BEOG was not tied to an allocation for a particular campus.

14. 1972 HEA Amendments • The Educational Opportunity Grant Program became the Supplemental Educational Opportunity Grant (SEOG)  Program because it now supplemented BEOG.• The State Student Incentive Grant (SSIG) Program was  established to encourage states to share costs of student  aid.• Proprietary (profit-making) schools became eligible to use  Title IV funds.• The College Work-Study Program was reauthorized.• The Guaranteed Student Loan Program was extended.

15. 1976 HEA Amendments added requirements that students make satisfactory academic progress to receive Title IV funds. All existing federal student financial aid programs were reauthorized and student eligibility rules were tightened by introducing requirements for satisfactory academic progress. Student consumer-information provisions were introduced, requiring participating institutions to provide information on topics such as academic progress requirements, job placement for graduates, and financial aid policies and procedures. In 1978, The Middle Income Student Assistance Act (MISAA) provided assistance to middle income parents by expanding Basic Grant eligibility and by lifting the income ceiling on the GSL Program.

16. 1980 HEA Amendments • Established Parent Loans for Undergraduate Students  (PLUS)• BEOG renamed Pell Grant The PLUS Program provided more assistance to middle-income families by allowing parents to borrow $3,000 a year for each dependent child in school regardless of parent income. The Basic Educational Opportunity Grant (BEOG) Program was renamed the Pell Grant Program in honor of the prime sponsor of the program, Senator Claiborne Pell.

17. 1986 HEA Amendments The Amendments of 1986 included a wide range of changes. They:• Incorporated two Title IV need-analysis formulas into law• Tightened standards for academic progress and for  students admitted to postsecondary school without high  school credentials• Placed a limit on the number of years a student could get a Pell Grant• Established a new loan program for independent students• Renamed the National Direct Student Loan Program as the  Federal Perkins Loan Program in honor of the late  Congressman Carl D. Perkins

18. 1990 Omnibus Budget Reconciliation Act • Required "ability-to-benefit" students to pass an  independently administered test • Restricted participation in the guaranteed loan programs for schools with a high percentage of former students defaulting on loans A student without a high school diploma or equivalent who wishes to be admitted on the basis of ability to benefit must pass an independently administered test. Schools are ineligible for the GSL Program if their default rate is 35% or higher. (As of award year 2001-02, the cut-off for most schools is 25%.)

19. 1992 HEA Amendments • Established a single federal need-analysis formula for all  Title IV aid• Required that the application for federal student aid be free  for students • Initiated the Federal Direct Loan Program allowing schools  to administer guaranteed loans provided by government  funds instead of private funds• Revised and renamed private-lender guaranteed loan  programs, establishing the Federal Family Education Loan  (FFEL) Program The 1992 HEA Amendments reauthorized the programs for five years and made many changes, including replacing the two need-analysis formulas with a single federal need-analysis formula.

20. 1997 Taxpayer Relief Act The 1997 tax reliefs for postsecondary students included:• HOPE Scholarship tax credit (up to $1,500) for each of the  first two years of college• Lifetime Learning tax credit equal to 20% of the first $5,000  of tuition and fees• Tax deduction for interest paid on student loans• Education IRAs for tax-free savings for college

21. 1997 Taxpayer Relief Act The 1997 tax reliefs for postsecondary students included:• Penalty-free withdrawals from existing IRAs for higher  education expenses• Greater flexibility for families saving in qualified state pre-  paid tuition plans• Income exclusion for up to $5,250 in employer education  benefits• Tax-free loan forgiveness for certain community service

22. Measuring Up 2002NATIONAL - PREPARATIONHigh School CompletionMost states perform well in assuring that young people attain a high school diploma or a General Education Development (GED) diploma by age 24. But there are large gaps in the attainment of different ethnic and income groups within states. ° States range from a high of 95% (Maine) to a low of 74% (Arizona) on the percentage of their residents who earn a high school diploma or a General Education Development (GED) diploma by age 24. ° In 18 states, more than 90% of young people have a high school or GED diploma. In 29 states, more than80% have one. ° In Arizona, 87% of white young adults have a high school or GED diploma, compared with 59% for all other races. ° In Georgia, 98% of young adults from high-income families have a high school or GED diploma, compared with 61% of young adults from low-income families. http://measuringup.highereducation.org/2002/stateprofilenet.cfm

23. Measuring Up 2002MISSOURIPREPARATION (B-) MISSOURI TOP STATES18 to 24 year-olds with a high school credential 93% 94%Low income 8th graders scoring at or above “proficiency”on the national assessment exam in math 9% 21%Number of scores in the top 20% nationally on SAT/ACTcollege entrance exam per 1,000 high school graduates 175 201Change over Time: In Missouri from 1990 to 2000, the proportion of high school students taking upper-level math courses increased from 36% to 51%.http://measuringup.highereducation.org/2002/stateprofilenet.cfm

24. Measuring Up 2002NATIONAL - PARTICIPATIONThe opportunity to enroll in higher education varies widely across states. Within states, large gaps exist in the rates of enrollment of young people by ethnicity, family income, and level of parents' education. Young AdultsIn most states, less than half of high school students go on to college right after high school.° In only five states do more than half of high school freshmen complete their diplomas and continue directly on to higher education. In most states, between 40 and 50% of high school freshmen complete high school and go on to higher education immediately.° In 10 states, less than 30% of all young adults (ages 18 to 24) are enrolled in college.Working-Age AdultsThe proportion of working-age adults (ages 25 to 49) enrolled part-time in education or training beyond high school is very low throughout the United States, and there are wide disparities among states.http://measuringup.highereducation.org/2002/stateprofilenet.cfm

25. Measuring Up 2002MISSOURIPARTICIPATION (C+) MISSOURI TOP STATESYOUNG ADULTSHigh school freshman enrolling in college within 4 yearsin any state 39% 54%18 to 24 year olds enrolling in college 32% 41%Performance Gaps: In Missouri, of 18 to 24 year olds whose parents have some college education, 55% enroll in college, compared to 19% of those whose parents did not attend college.http://measuringup.highereducation.org/2002/stateprofilenet.cfm

26. Measuring Up 2002NATIONAL - AFFORDABILITYFamily Ability to PayA family's ability to pay for college is determined by the share of family income needed to pay for tuition, fees, room and board, and other college expenses-minus financial aid. ° Students and families in Utah pay a smaller portion of their income for college than families in any other state. A combination of low tuitions, substantial financial aid, and solid family incomes means that Utah residents need to devote an average of about 16% of their income to attend public institutions and 21% to attend private institutions.° The proportion of family income required to pay for higher education at public four-year institutions in Vermont is 38%-compared with 16% in Utah. ° In New York, low-income families would pay 211% of their family income to attend private four-year institutions. High-income families devote just 18% of their income.http://measuringup.highereducation.org/2002/stateprofilenet.cfm

27. Measuring Up 2002NATIONAL - AFFORDABILITYStrategies for AffordabilityMost states make a comparatively low investment in need-based financial aid(aid directed to low-income students and their families). The average performance of the top five states in providing need-based financial aid is four times the average performance for the rest of the states.° The top-performing state in providing need-based financial aid, Illinois, provides more grant aid than the federal government to Illinois residents. Pennsylvania, New Jersey, and Minnesota also provide more need-based grant aid than the federal government. ° Four states (Alaska, Georgia, South Dakota, and Wyoming) provide no need-based financial aid to state residents. Only four states (California, Colorado, Illinois, and Virginia) offer both low-cost colleges and high levels of need-based aid. Reliance on Loans ° In six states, the average loan amount borrowed by undergraduate students is less than $3,000 annually. In one state, the average amount borrowed is above $4,000 per year. Note: Many states received a lower grade on affordability in Measuring Up 2002 than in 2000. State grades measure how well a state performs in relationship to other states. California's exceptional performance since Measuring Up 2000 resulted in a lower grade for most other states.http://measuringup.highereducation.org/2002/stateprofilenet.cfm

28. Measuring Up 2002MISSOURIAFFORDABILITY (D+) MISSOURI TOP STATESFAMILY ABILITY TO PAYPercent of income (avg of all income groups) needed to pay for college expenses minus financial aid: Community College 17% 16% Public 4-year College/University 22% 18% Private 4-year College/University 47% 32%STRATEGIES FOR AFFORDABILITYState grant aid targeted to low-income families as a % of federal Pell Grant to low-income families 19% 108%Share of income that poorest families need to pay for tuition at lowest priced colleges 12% 8%RELIANCE ON LOANSAvg loan amount that undergraduates borrow each year $3,206 $2,928http://measuringup.highereducation.org/2002/stateprofilenet.cfm

29. Measuring Up 2002MISSOURIINCOME GROUPS USED TO CALCULATE 2002 FAMILY ABILITY TO PAYPercent of income needed to pay for college Community 4-Year 4-Year expenses minus financial aid:Colleges Public Privatefor 20% of the population with the lowest income 39% 50% 117%for 20% of the population with lower-middle income 18% 23% 50%for 20% of the population with middle income 12% 16% 31%for 20% of the population with upper-middle income 9% 12% 22%for 20% of the population with the highest income 6% 7% 15%http://measuringup.highereducation.org/2002/stateprofilenet.cfm

30. Measuring Up 2002NATIONAL - BENEFITSEducational Achievement° In Massachusetts, 36% of state residents have a bachelor's degree-double the 18% who have one in West Virginia. ° In 14 states, at least 30% of state residents have a bachelor's degree. In only one state (West Virginia) do less than 20% of state residents have this degree. Large gaps also exist within states. ° In seven states, the percentage of the white population with a bachelor's degree is more than double the percentage for all other residents. Economic Benefits° In Maryland, the total amount of personal income generated in the state is increased by 13% due to thepopulation with a bachelor's degree. In Wyoming, the increase is only 5%. ° All education and training beyond high school, even if it does not result in a bachelor's degree, can have economic benefits for the state. In four states (Michigan, Delaware, Oregon, and California), the total amount of personal income in the state is increased by four percent or more as a result of state residents attending college without attaining a bachelor's degree. In four states (Missouri, Montana, South Dakota, and West Virginia) on the other hand, the increase is less than one percent. Civic BenefitsSome states with more highly educated populations tend to have higher levels of civic benefits, such as voting and charitable giving. http://measuringup.highereducation.org/2002/stateprofilenet.cfm

31. Measuring Up 2002MISSOURICOMPLETION (B-) MISSOURI TOP STATESPERSISTENCE1st year community college students returning their 2nd year 54% 63%Freshman at 4-year colleges/univ. returning their 2nd year 75% 83%COMPLETIONFirst-time, full-time students completing a bachelor’s degreewithin 5 years of high school completion 48% 66%First-time, full-time students completing a bachelor’s degreewithin 6 year of college entrance 50% 61%Certificates, degrees and diplomas awarded at all colleges anduniversities per100 undergraduate students 17 21http://measuringup.highereducation.org/2002/stateprofilenet.cfm

32. Measuring Up 2002MISSOURIBENEFITS (D+) MISSOURI TOP STATESEDUCATIONAL ACHIEVEMENTPopulation aged 25 to 65 with a bachelor’s degree or higher 28% 35%ECONOMIC BENEFITSIncrease in total personal income as a result of the % of the population holding a bachelor’s degree 6% 12%Increase in total personal income as a result of the % of the populationwith some college (including an associate’s degree), but not a bachelor’s degree 0% 4%CIVIC BENEFITSResidents voting in 1998 and 2000 national elections 56% 60%Of those who itemize on federal income taxes, the % declaring charitable gifts 85% 92%http://measuringup.highereducation.org/2002/stateprofilenet.cfm

33. Measuring Up 2002MISSOURISTATE CONTEXT MISSOURI STATE RANKPOPULATION (2001) 5,629,707 17GROSS STATE PRODUCT (1999) $170,470,000,000 18http://measuringup.highereducation.org/2002/stateprofilenet.cfm

34. Measuring Up 2002MISSOURILEADING INDICATORS MISSOURI U.S. Projected % change in population 2000-2015 8.4% 12.9%Projected % change in # of all high school graduates, 1998-2010 3.3% 9.5%Projected budget surplus/shortfall by 2008 -1.8% -3.8%Avg income of poorest 20% of population (2000) $ 12,820 $ 11,400Children in poverty (2000) 16% 17% % of population with less than a high school diplomaor equivalent 13.4% 15.9%New economy index (2002)* 58.9% 60.3%*This index, created by the Progressive Policy Institute, measures the extent to which a state is participating in knowledge-based industries. A higher score means increased participation.http://measuringup.highereducation.org/2002/stateprofilenet.cfm

35. Measuring Up 2002MISSOURIFACTS & FIGURES # INSTITUTIONS TUITION ENROLLMENT (1999)Public 4-year 13 $ 3,878 99,456 38%Public 2-year 18 $ 1,482 78,817 30%Private 4-year 63 $ 12,603 77,998 30%Private 2-year 22 N/A 7,448 3%http://measuringup.highereducation.org/2002/stateprofilenet.cfm

36. Measuring Up 2002MISSOURIENROLLMENT LEVELS COUNT PERCENT Undergraduate 263,719 83%Graduate 43,850 14%Professional 9,911 3%Full-time 184,948 58%Part-time 132,532 42%http://measuringup.highereducation.org/2002/stateprofilenet.cfm

37. Measuring Up 2002MISSOURISTATE & LOCAL APPROPRIATIONS FOR HIGHER EDUCATION Per $1,000 of personal income, FY 2001 $ 7.00Per capita, FY 2001 $ 203.00Number of GED diplomas issued to young adults, ages 16 – 24, MISSOURI U.S. per 1,000 high school graduates (2001) 137 154 http://measuringup.highereducation.org/2002/stateprofilenet.cfm

38. Measuring Up 2002MISSOURIETHNICITY STATE POPULATION ENROLLED IN HIGHER EDWHITE 86% 83%BLACK 11% 10%HISPANIC 2% 2%ASIAN 1% 2%NATIVE AMERICAN 0% 1%http://measuringup.highereducation.org/2002/stateprofilenet.cfm

39. Measuring Up 2002MISSOURISTATE APPROPRIATIONS 1999 2000 K-12 28% 24%HIGHER EDUCATION 9% 7%CASH ASSISTANCE 3% 1%MEDICADE 11% 18%CORRECTIONS 3% 3%TRANSPORTATION 9% 9%ALL OTHER 38% 38%http://measuringup.highereducation.org/2002/stateprofilenet.cfm

40. Measuring Up 2002MISSOURIMissouri's Performance Is Average in Higher EducationMany young people in Missouri graduate from high school, but only a fair percentage go on directly to college, according to a U.S. report card on higher education. According to the report:Since Measuring Up 2000, Missouri has improved to become a top-performing state in the percentage of 18- to 24-year-olds with a high school credential: 93%.The state has increased the proportion of 18- to 24-year-olds in the state who enroll in college, to 32%.But this percentage is only fair compared to the 41% who do so in the best-performing states. Missouri has improved and is a top performer on the share of income families must spend, after financial aid, to attend the state's community colleges: 17%.Even with some improvement, only 48% of Missouri's full-time college students receive their bachelor's degree within five years, compared to 66% who do so in the top states.http://measuringup.highereducation.org/2002/stateprofilenet.cfm

41. Measuring Up 2002MISSOURIMissouri's Performance Is Average in Higher EducationMissouri's Grades20002002Preparation: C+ B-Participation: C- C+Affordability: D+ D+Completion: B- B-Benefits: C D+Learning: I Ihttp://measuringup.highereducation.org/2002/stateprofilenet.cfm

42. College graduates earned about $41,000 in 1998 compared with the $23,000 that high school graduates earned.http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

43. 1998 – 200835 to 44-year-old population shrinks by about 8%http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

44. 1998 – 200818 to 24-year-old population grows by about 16%13.7 million graduateshttp://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

45. 1988 – 199855 and older age group increased by 4.3 millionhttp://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

46. 1998 - 200855 and older age group will increased by 14 millionhttp://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

47. 1998 - 20081.37 million new graduates each year1.28 million new jobs each yearhttp://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

48. Although the employment outlook is improving, an average of 90,000 college graduates will continue to enter positions that do not require skills learned in a bachelor’s degree program.http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

49. …expectations for high earnings and job satisfaction… are reasonable for students graduating with majors that prepare them to enter fast-growing, high demand occupations……competition will remain keen…http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf

50. …prospective employers evaluate job applicants on…GPA, internship/work experience, evidence of leadership, strong communication skills…http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf