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

2. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 2 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

3. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 3 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 Source of Data

4. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 4 CaliforniaIllinoisNew York ConnecticutIndianaOregon DelawareMinnesotaTennessee GeorgiaNebraskaTexas 12 Oversampled States in the NPSAS Survey

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. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 6 National data

7. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 7 Illinois

8. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 8 Indiana

9. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 9 Minnesota

10. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 10 Nebraska

11. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 11 National Data: Public Four-Year Institutions

12. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 12 Illinois: Public Four-Year Institutions

13. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 13 Indiana: Public Four-Year Institutions

14. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 14 Minnesota: Public Four-Year Institutions

15. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 15 Nebraska: Public Four-Year Institutions

16. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 16 National Data: Public Two-Year Institutions

17. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 17 Illinois: Public Two-Year Institutions

18. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 18 Minnesota: Public Two-Year Institutions

19. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 19 National Data: Private Not-for-Profit Four-Year Instit.

20. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 20 Illinois: Private Not-for-Profit Four-Year Instit.

21. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 21 Indiana: Private Not-for-Profit Four-Year Instit.

22. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 22 Minnesota: Private Not-for-Profit Four-Year Instit.

23. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 23 Nebraska: Private Not-for-Profit Four-Year Instit.

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

25. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 25 National Data

26. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 26 National Data: Public Four-Year Institutions

27. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 27 National Data: Private Not-for-Profit Four-Year Instit.

28. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 28 National Data: 4 th and 5 th Year Undergraduates

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

30. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 30 Illinois

31. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 31 Indiana

32. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 32 Minnesota

33. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 33 Nebraska

34. October 2005Minnesota 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

35. October 2005Minnesota 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

36. October 2005Minnesota 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

37. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 37 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 Services to the 12 states through the Lumina Grant

38. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 38 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 Retrieving NPSAS Data

39. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 39 Minnesota Information from the National Postsecondary Student Aid Study 2003-2004 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

40. October 2005Minnesota Office of Higher Education, Data Source: NCES NPSAS, 2003-2004 40 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) Further Information