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Undergraduate Finances: Net Prices and Cumulative Borrowing

Undergraduate Finances: Net Prices and Cumulative Borrowing. Tricia Grimes Shefali Mehta Minnesota Office of Higher Education October 2005. Policy Questions. What is the net price of attendance for students in different income groups? How do net prices differ across states and sectors?

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Undergraduate Finances: Net Prices and Cumulative Borrowing

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  1. Undergraduate Finances: Net Prices and Cumulative Borrowing Tricia GrimesShefali MehtaMinnesota Office of Higher EducationOctober 2005

  2. Policy Questions • What is the net price of attendance for students in different income groups? How do net prices differ across states and sectors? • Net price is calculated using the student budget, as given by the student’s institution, minus the total grants received by the student. • Total grants include those from federal, state, institutional and private sources. • What are the cumulative borrowing amounts for graduating seniors? How do they differ across states and sectors? Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  3. Source of Data • National Postsecondary Student Aid Study (NPSAS) for 2003-2004 • Data was retrieved using the National Center for Education Statistics (NCES) online Data Analysis System (DAS) at: http://www.nces.ed.gov/dasol Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  4. 12 Oversampled States in the NPSAS Survey Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  5. Net Prices for Postsecondary Institutions Student Budgets and Net Prices (Student Budgets Minus Total Grants) for Full-time, Full-Year Undergraduate Students Attending in Their State of Residency

  6. National data Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  7. Illinois Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  8. Indiana Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  9. Minnesota Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  10. Nebraska Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  11. National Data: Public Four-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  12. Illinois: Public Four-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  13. Indiana: Public Four-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  14. Minnesota: Public Four-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  15. Nebraska: Public Four-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  16. National Data: Public Two-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  17. Illinois: Public Two-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  18. Minnesota: Public Two-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  19. National Data: Private Not-for-Profit Four-Year Instit. Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  20. Illinois: Private Not-for-Profit Four-Year Instit. Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  21. Indiana: Private Not-for-Profit Four-Year Instit. Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  22. Minnesota: Private Not-for-Profit Four-Year Instit. Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  23. Nebraska: Private Not-for-Profit Four-Year Instit. Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  24. Cumulative Borrowing Cumulative Borrowing by Graduating Seniors in the U.S.

  25. National Data Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  26. National Data: Public Four-Year Institutions Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  27. National Data: Private Not-for-Profit Four-Year Instit. Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  28. National Data: 4th and 5th Year Undergraduates Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  29. Cumulative Borrowing Cumulative Borrowing by 4th and 5th Year Undergraduates in Illinois, Indiana, Minnesota, and Nebraska

  30. Illinois Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  31. Indiana Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  32. Minnesota Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  33. Nebraska Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  34. The NPSAS data provides some previously unavailable data. The data has limitations, such as small sample sizes for some areas, which can lead to large standard errors and statistically insignificant estimates. However, the NPSAS data provides much valuable information and increases the understanding of several key variables Summary Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  35. The net prices faced by those in the lower income groups are a substantial share of their incomes. A large number of students borrow as undergraduates, even those in the highest income category ($90,000+). Within each sector, the total amounts borrowed do not vary across the income categories. Summary: Observations Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  36. The Minnesota Office of Higher Education is the recipient of a grant from the Lumina Foundation for Education The purpose of the grant is to help the 12 states make effective use of the state-representative NPSAS data. Lumina Foundation Grant Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  37. Services to the 12 states through the Lumina Grant • 5 two-day training sessions by the MPR Associates in Berkeley which trained a total of 45 people • Additional training through teleconferences • The Research Assistant (Shefali) provides support and retrieves data for requests from people in the 12 states, runs teleconference trainings and maintains the following website containing NPSAS information: http://www.ohe.state.mn.us/NPSAS/ • Presentations and Publications Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  38. Retrieving NPSAS Data • Data can be retrieved from the website: http://www.nces.ed.gov/dasol • For tutorials and technical assistance: http://nces.ed.gov/dasol/help/ • For help with tables: http://www.nces.ed.gov/dasol/help/tables.asp Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  39. Large Table with Socioeconomic Characteristics Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

  40. Further Information • Refer to the handout for a list of those trained in your states • For data and training requests and questions, please contact • Tricia Grimes (Tricia.Grimes@state.mn.us) • Shefali Mehta (Shefali.Mehta@state.mn.us) Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004

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