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Intro Unequal Family Income and Intro Unequal Family Income and

Intro Unequal Family Income and - PowerPoint Presentation

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Uploaded On 2019-11-23

Intro Unequal Family Income and - PPT Presentation

Intro Unequal Family Income and Unequal Opportunity for Higher Education Duluth Superior Area Community Foundation Lake Superior College Duluth MN July 16 2018 Tom Mortenson Senior Scholar The Pell Institute for the Study of Opportunity in Higher Education ID: 767332

education higher income opportunity higher education opportunity income pell federal financial degree families policy shift grants work college tax

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Intro Unequal Family Income andUnequal Opportunity for Higher EducationDuluth Superior Area Community FoundationLake Superior CollegeDuluth, MNJuly 16, 2018Tom MortensonSenior Scholar,The Pell Institute for the Study of Opportunity in Higher EducationHigher Education Policy Analyst,Postsecondary Education OPPORTUNITY

The Changing Policy Environment for Higher Education Opportunity for Families--------------------------1973: Growing importance of higher education1980: State defunding of public higher education 1981: Increasing public institution tuition and fee rates~1994: Federal policy shift from grants to loans1995: State financial aid shift from need-based grants toward merit-based scholarships1999: Federal shift to tax credits2000: Median family income for families with 18 to 24 year olds peaks and begins sharp decline2003: Declining international ranking in production of college graduates

The Education Pipeline High school graduationCollege continuation for high school graduatesCollege participationEstimated bachelor’s degree completion by age 24Estimate bachelor’s degree attainment by age 24

Influences on Opportunity for Higher EducationSocial and cultural capitalFinancial barriers:Unmet financial needStudent work-loan burdenNet price to familyNet price tax rateAdverse Childhood Experiences (ACEs)

Financial Need Analysis Model Cost of AttendanceTuition and feesRoom and boardBooks and suppliesPersonal and medical careTransportationLess: Expected family contributionIncome and assetsFamily sizeNumber of children enrolled in collegeEquals: Financial needGift aid: grants, scholarships, waiversEarnings from work/studyEducation loans: subsidized/unsubsidized Stafford, PLUSFederal tax credits

Tertiary Type-A Degree Attain 25-34 yr olds OECD 2003

Restoring College Affordability Federal $13,000 Pell Grant maximum award $2,000 Super Pell to fund negative EFC calculated from FAFSA Universal income contingent education loan repayment Universal college work-study for all studentsStates Require 50:50 match to federal Pell GrantInstitutions Continued eligibility for Title IV participation contingent on progress toward broadening enrollment of students from low income families

Email to request PowerPoint from: tom@postsecondary.orgFinal Contact Information: