Undergraduate Finances: Net Prices and Cumulative Borrowing Tricia Grimes Shefali Mehta Minnesota Office of Higher Education October 2005

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 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 students 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? Policy Questions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Postsecondary Student Aid Study (NPSAS) for Data was retrieved using the National Center for Education Statistics (NCES) online Data Analysis System (DAS) at: Source of Data

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, CaliforniaIllinoisNew York ConnecticutIndianaOregon DelawareMinnesotaTennessee GeorgiaNebraskaTexas 12 Oversampled States in the NPSAS Survey

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

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National data

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Illinois

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Indiana

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Minnesota

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Nebraska

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Data: Public Four-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Illinois: Public Four-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Indiana: Public Four-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Minnesota: Public Four-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Nebraska: Public Four-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Data: Public Two-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Illinois: Public Two-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Minnesota: Public Two-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Data: Private Not-for-Profit Four-Year Instit.

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Illinois: Private Not-for-Profit Four-Year Instit.

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Indiana: Private Not-for-Profit Four-Year Instit.

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Minnesota: Private Not-for-Profit Four-Year Instit.

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Nebraska: Private Not-for-Profit Four-Year Instit.

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

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Data

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Data: Public Four-Year Institutions

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Data: Private Not-for-Profit Four-Year Instit.

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, National Data: 4 th and 5 th Year Undergraduates

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

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Illinois

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Indiana

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Minnesota

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Nebraska

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 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

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, –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

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 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

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 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: Presentations and Publications Services to the 12 states through the Lumina Grant

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Data can be retrieved from the website: For tutorials and technical assistance: For help with tables: Retrieving NPSAS Data

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Minnesota Information from the National Postsecondary Student Aid Study Percent of undergraduates with selected characteristics, by institutional sector TotalPublic Four-Year NationalMinnesotaNationalMinnesota Percent of undergraduates who: Were Dependent Students50%59%66%71% Lived on campus14%20%25%31% Lived with parents24%15%20%8% Were 30 years old or older26%21%13% Were married21% 14%12% Had children25%21%13%10% Were single parents13%8%6%4% Reported a disability11%9%10%7% Were first generation to attend college34%26% 19% Large Table with Socioeconomic Characteristics

October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, Refer to the handout for a list of those trained in your states For data and training requests and questions, please contact –Tricia Grimes –Shefali Mehta Further Information