University Business
January 02, 2025 Admissions, Enrollment Management Trends, Value and Affordability
Predictions regarding the state of higher education for the 2025 academic year are being closely assessed. Institutions are investing in digital tools to enhance online learning and lower costs compared to traditional on-campus learning. The growing demand for online degrees allows for increased revenue without the need to incorporate infrastructure costs. Another area of interest is the implementation of Artificial Intelligence (AI) to assist with simplifying the transfer process and enhance pedagogical learning. Recently, Gen Z’s showed greater interest in blue collar jobs that provide them with an alternative career path. Also, students are more closely examining the return on investment (ROI) and the overall value of their education.
HIGHER ED DIVE
December 16, 2024 Value and Affordability
According to the Higher Education Price Index (HEPI), operating cost increased 3.4% in fiscal year 2024. Over the past 40 years, the HEPI has outpaced the Consumer Price Index (CPI) which was largely influenced by ongoing inflation rates. Being that higher education is a labor-intensive industry, professional faculty and staff salaries account for 35% of the HEPI with clerical costs, fringe benefits, and administrative salaries proceeding the next heaviest weighted costs. Since 2016, faculty salaries have recently had a 3.8% yearly increase, but has not increased past last year’s 4% growth.
The Chronicle of Higher Education
October 02, 2023 Student Success, Value and Affordability
A recently announced national initiative plan has more than 360 colleges agreeing to make their financial aid packages more transparent. This includes a mix of public, private and for-profit institutions. About a third of the institutions participating have 40% or more students who were awarded Pell grants. Over half of the colleges, on average, awarded less than $5,000 to first-time students.
Higher Ed. Dive
September 14, 2023 Student Success, Value and Affordability
A federal judge deemed the DACA (Deferred Action for Childhood Arrivals) program unlawful but didn’t order its immediate termination, leaving its fate uncertain. This implies that eligible students who have not been able to enroll in DACA can’t receive benefits like in-state tuition and scholarships, who were otherwise qualified. This case may be headed to the Supreme Court.
Higher Ed. Dive
September 15, 2023 Admissions, Value and Affordability
In a recent Gallup & Walton Family Foundation poll, 85% of Gen Z K-12 students valued college, yet only 62% plan to attend. Fifty-three percent of prospective college-goers expressed affordability concerns. Demographics play a role, with differences in perception based on gender, politics, and racial disparities in affordability and enrollment rates. This situation raises concerns for higher education’s future amid declining enrollment rates.
Higher Ed. Dive
July 18, 2023 Student Success, Value and Affordability
Over 425 free college programs now exist in the U.S., a rise from 53 in 2015. Students still face nontuition expenses that most free programs don’t cover. College Programs and ETS identified different student groups needing varying types of support. Institutions should understand diverse student needs and provide appropriate assistance, such as academic and personal advising.
Inside Higher Ed.
July 17, 2023 Student Success, Value and Affordability
The Biden administration has announced plans to forgive $39 billion in student loans, impacting 804,000+ borrowers. This first group of borrowers who will see relief include those who have made enough payments over 20 to 25 years to see the rest of their balances wiped out. The department will continue to track borrowers who reach the forgiveness thresholds every two months until next year. Potential additional future fixes to the income-driven repayment program will offer more generous terms for borrowers and more pathways to forgiveness.
University Business
June 22, 2023 Admissions, Student Success, Value and Affordability
A report from The State of Higher Education 2023 found that the cost of a degree was the main impediment to adult enrollment in college. As a result, several colleges, universities, and systems have approved tuition freezes to offset burdening students financially. However, most public institutions cannot afford to freeze tuition without support from state funding.
The Chronicle of Higher Education
February 01, 2023 Student Success, Value and Affordability
$76 billion in federal funding was used to assist colleges and students through the financial challenges of the pandemic. Over 18 million college students have received direct financial aid, according to a report released by the U.S. Department of Education. Colleges were required to spend about half of their federal relief money on any aspect of students’ costs related to tuition, food, housing, healthcare, or child care. The report suggests that roughly two-thirds of students enrolled in college in 2021 benefitted from the fund.
NASFAA
February 01, 2023 Student Success, Value and Affordability
3.6 billion in Pell Grants were unclaimed in 2022 as a result of students not completing the FAFSA, a new report from NCAN suggests. The class of 2021 left nearly $3.75 billion in Pell grants unclaimed. States with the highest rates of FAFSA completion for 2022 high school graduates include Washington, D.C. at 74%, and Tennessee and Louisiana at 71% and 69%, respectively. States with the lowest completion rates include Alaska at 35%, Utah at 48%, and Oklahoma at 43%. NCAN points to the pandemic as one reason behind the significant decline in FAFSA completions.