How Graduate Students Finance their Education

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1 How Graduate Students Finance their Education Fellowship Roundtable May 25, 2011 Nathan Bell Director, Research and Policy Analysis Council of Graduate Schools

2 Council of Graduate Schools Mission: To improve and advance graduate education Over 500 university members in the U.S. and Canada; ~20 international affiliate members Focus on three areas: advocacy, best practices and research

3 How Graduate Education is Financed Varies by: Student Degree level Field of study Year in program

4 Data Sources on Financial Support National Postsecondary Student Aid Study (NPSAS) Academic Year Survey of Earned Doctorates Doctorate Recipients Trends in Student Aid The College Board Academic Year

2007-08 Survey of Earned Doctorates 2008-09 Doctorate

5 Trends in Student Aid The College Board

6 Graduate Student Aid by Source, Source: The College Board, Trends in Student Aid 2010

7 Average Aid per Graduate FTE Source: The College Board, Trends in Student Aid 2010

8 Survey of Earned Doctorates National Science Foundation

9 Primary Source of Financial Support for Doctorate Recipients, Employer, 4% Other, 1% Own Resources, 20% Fellowships/ Grants, 28% Teaching Assistantships, 18% Research Assistantships/ Traineeships, 30% Source: National Science Foundation, Survey of Earned Doctorates

Grants, 28% Teaching Assistantships, 18% Research Assistantships/

10 Primary Source of Support Varies by Field Primary Source of Support for Doctorate Recipients by Field, Life Sciences Physical Sciences Social Sciences Engineering Education Humanities Other non S&E Teaching Assistantships 10% 27% 25% 9% 7% 36% 25% Research Ass't./Traineeships 35% 46% 18% 60% 10% 2% 16% Fellowships/Grants 42% 21% 28% 22% 11% 38% 23% Own Resources 10% 4% 27% 5% 60% 22% 29% Employer 3% 2% 2% 4% 11% 1% 4% Other 1% 1% 1% 1% 1% 1% 2% Source: National Science Foundation, Survey of Earned Doctorates

11 Primary Source of Support Varies by Field Primary Source of Support for Doctorate Recipients by Field, Life Sciences Physical Sciences Social Sciences Engineering Education Humanities Other non S&E Teaching Assistantships 10% 27% 25% 9% 7% 36% 25% Research Ass't./Traineeships 35% 46% 18% 60% 10% 2% 16% Fellowships/Grants 42% 21% 28% 22% 11% 38% 23% Own Resources 10% 4% 27% 5% 60% 22% 29% Employer 3% 2% 2% 4% 11% 1% 4% Other 1% 1% 1% 1% 1% 1% 2% Source: National Science Foundation, Survey of Earned Doctorates

12 Primary Source of Support Varies by Demographics Primary Source of Support for Doctorate Recipients by Gender, Male Female Teaching Assistantships 18% 18% Research Assistantships/Traineeships 36% 24% Fellowships/Grants 27% 29% Own Resources 15% 25% Employer 4% 3% Other 1% 1% Source: National Science Foundation, Survey of Earned Doctorates

Research Assistantships/Traineeships 36% 24% Fellowships/Grants 27% 29% Own Resources

13 Primary Source of Support Varies by Demographics Primary Source of Support for Doctorate Recipients by Citizenship, U.S. Citizens and Permanent Residents Temporary Visa Holders Teaching Assistantships 17% 21% Research Assistantships/Traineeships 22% 50% Fellowships/Grants 30% 21% Own Resources 27% 4% Employer 5% 1% Other 0% 3% Source: National Science Foundation, Survey of Earned Doctorates

Citizens and Permanent Residents Temporary Visa Holders Teaching Assistantships 17% 21% Research

14 Primary Source of Support Varies by Demographics Primary Source of Support for Doctorate Recipients by Race/Ethnicity, American Indian Asian Black Hispanic White Two or More Races Teaching Assistantships 8% 15% 10% 13% 18% 15% Research Ass't./Traineeships 14% 32% 12% 14% 22% 20% Fellowships/Grants 35% 34% 33% 38% 29% 36% Own Resources 39% 15% 40% 32% 26% 25% Employer 4% 4% 6% S 5% S Other 0% 0% 0% S 0% S Source: National Science Foundation, Survey of Earned Doctorates

15 All Sources of Support for Doctorates Doctorate Recipients' Sources of Financial Support, by Gender, 2009 Male Female Fellowship, scholarship 55% 58% Grant 28% 32% Teaching Assistantship 62% 57% Research Assistantship 64% 54% Other Assistantship 5% 7% Traineeship 3% 5% Internship, clinical residency 6% 7% Loan (any source) 25% 34% Savings 38% 43% Other earnings during grad school 25% 34% Spouse's, partner's, or family's earnings/savings 26% 37% Employer reimbursement/assistance 9% 10% Foreign (non-u.s.) support 5% 4% Other 0% 0% Source: 2009 Survey of Earned Doctorates

clinical residency 6% 7% Loan (any source) 25% 34% Savings 38% 43% Other earnings during grad school 25% 34% Spouse's, partner's, or family's

16 National Postsecondary Student Aid Study (NPSAS) U.S. Department of Education

17 NPSAS Financial Support Overview Percent receiving some form of financial support in : 74% of master s-level students 86% of doctoral students Average amount of financial support for : $14,400 for master s-level students $23,800 for doctoral students

of doctoral students Average amount of financial support for

18 Average Amount of Financial Aid Received by Master's-Level Students by Citizenship and Race/Ethnicity, Temporary Residents White More than one race Asian Black/African American Hispanic/Latino $13,341 $13,486 $14,952 $15,846 $16,608 $16,653 $0 $5,000 $10,000 $15,000 $20,000 Note: Amounts are averages for those who received aid. Source: National Postsecondary Student Aid Study

American Hispanic/Latino $13,341 $13,486 $14,952 $15,846 $16,608 $16,653 $0 $5,000 $10,000

19 Average Amount of Financial Aid Received by Doctoral Students by Citizenship and Race/Ethnicity, Black/African American White Asian Temporary Residents More than one race Hispanic/Latino $23,210 $23,265 $23,748 $24,255 $25,106 $27,370 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 Note: Amounts are averages for those who received aid. Source: National Postsecondary Student Aid Study

$23,210 $23,265 $23,748 $24,255 $25,106 $27,370 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000

20 Master s-level Financial Aid Student loans (44%) Employer support (26%) Fellowships (9%) Teaching assistantships (5%) Research assistantships (4%) Other graduate assistantships (4%)

21 Doctoral-Level Financial Aid Student loans (32%) Fellowships (27%) Research assistantships (26%) Teaching assistantships (24%) Tuition and fee waivers (23%) Employer support (13%) Other graduate assistantships (8%) Traineeships (1%)

22 Non-Loan Doctoral Support Traineeship $5,495 $17,764 T.A R.A. $11,763 $7,680 $14,055 $10,178 Doctoral Master's Fellowship $7,225 $11,604 Source: NPSAS $0 $5,000 $10,000 $15,000 $20,000

23 Non-Loan Doctoral Support, cont. African American doctoral students are less likely to have non-loan financial support Graduate fellowships, assistantships, traineeships, and tuition/fee waivers: 27% of African Americans 52% of Hispanics 49% of Asians 43% of Whites

24 Student Loans In , percent with loans: 44% of master s-level students 32% of doctoral students Very little difference in borrowing by gender

25 Borrowing and Race/Ethnicity Percentage of Graduate Students with Loans by Level and Race/Ethnicity, White Hispanic/Latino Black/African American 38% 41% 41% 58% 62% 68% Doctoral Master's Asian 19% 35% 0% 20% 40% 60% 80% Source: National Postsecondary Student Aid Study

26 Student Loans, continued Average amount borrowed for : $15,644 for master s-level students $20,297 for doctoral students

27 Average Amount of Master's-Level Student Loans by Race/Ethnicity in Two or More Races $16,968 Asian $17,781 Hispanic/Latino $16,742 Black/African American $16,237 White $15,112 $0 $5,000 $10,000 $15,000 $20,000 Note: Average loan amount for master's-level students who received loans. Source: National Postsecondary Student Aid Study

28 Average Amount of Doctoral Student Loans by Race/Ethnicity in Two or More Races $22,574 Asian $22,337 Hispanic/Latino $21,954 Black/African American $22,281 White $19,457 $0 $5,000 $10,000 $15,000 $20,000 $25,000 Note: Average loan amount for doctoral students who received loans. Source: National Postsecondary Student Aid Study

29 Borrowing Varies by Field Percentage of Doctoral Students with Loans for Selected Fields, Engineering Physical Sciences Biological/Biomedical Sci. Foreign Languages/Lit. Mathematics/Statistics History Sociology English Language/Lit. Education Business Computer/Information Sci. Psychology 8% 12% 14% 16% 17% 25% 33% 34% 39% 43% 44% 63% 0% 10% 20% 30% 40% 50% 60% 70% Source: National Postsecondary Student Aid Study

30 Percent of Graduates with Debt 100% 80% 60% ** Includes undergraduate and graduate debt. 69% 56% 66% 53% 72% 61% 74% 71% 52% 25% 31% 15% 40% 20% 0% Master's Doctoral Total Men Women U.S. Citizen Perm. Res. Foreign Source: NPSAS

31 Undergraduate & Graduate Debt Burden Average cumulative undergraduate and graduate debt burden for graduates: Master s: $40,208 Doctoral: $58,967

32 Undergraduate & Graduate Debt Burden In , women graduates had higher debt levels than men Master s: Women: $41,242 Men: $38,451 Doctoral: Women: $62,397 Men: $55,293

33 African Americans most likely to have debt 100% 80% 60% 70% 72% 87% 85% 82% 47% 61% 40% 40% 20% Master's Doctoral 0% White Black Hispanic Asian Source: NPSAS

34 Debt Burden highest for African Americans Asian $33,984 Hispanic or Latino Black or African American $60,628 $45,545 $68,229 $51,865 Doctoral Master's White $59,641 $37,990 Source: NPSAS $0 $20,000 $40,000 $60,000 $80,000

35 Graduate Debt Burden Master's Graduates, Doctoral Recipients, % 20% 4% 2% 21% 42% No graduate debt Di str i buti on of Gr aduate School Debt f or Master 's Degr ee Recipients 2% Less than $20,000 4% 11% $20,000 to $39,999 42% 20% $40,000 to $59,999 $60,000 to $79,999 21% $80,000 or more 9% 10% 12% 13% 11% 45% Source: Trends in Student Aid, 2009

36 Positives: Implications Employers recognize the value of master s education Many students graduate with no debt Fellowship and assistantship support for doctoral students in some fields Concerns: Small percentages of master s students with fellowships and assistantships Cumulative loan debt, particularly African Americans

37 Questions? Nathan Bell Director, Research and Policy Analysis Council of Graduate Schools (202)

o Yes (Go to question 2) o No (Please do not complete this survey; it is intended only for first-year master s students.)

o Yes (Go to question 2) o No (Please do not complete this survey; it is intended only for first-year master s students.) Council of Graduate Schools Welcome to the! You have been selected to participate in the survey because you are a first-year student enrolled in a master s program. We urge you to participate in the survey