Competitor Cost Analysis

Transcription

1 This analysis compares published tuition and fee rates and net price for Illinois State University and the University s top ten competitor institutions. For purposes of this analysis, competitor institutions represent the matriculation institutions of students who also applied to Illinois State University. Included are documented trends from 2007 to 2012, using the most recent data available. Although this analysis focuses on the top ten competitors, a comparison of the top twenty-five competitor institutions also is provided in Appendix B. Tuition and Fee Comparison Among its top ten competitor institutions, Illinois State University had the third highest overall percent increase in tuition and fees at 31.2% from 2007 to However, the tuition and fees rate at Illinois State consistently ranked in the middle at fifth highest among its competitors in four out of the five years included in this analysis. The University of Missouri had the highest growth in matriculates from Illinois State University s application pool over the past 5 years (see Appendix A), as well as the second lowest percent increase in tuition and fees among the top ten competitor institutions (18.2%)(Table 1 and Figure 1). Table 1 Comparison of tuition and fees of ISU against top 10 competitor schools, Institution Name Trend Line Percent Dollar Type Bradley University (BU) $ 21,378 $ 22,814 $ 24,224 $ 25,424 $ 26, % $ 5,326 Private College of DuPage (COD) $ 9,344 $ 9,472 $ 10,523 $ 10,112 $ 10, % $ 864 Comm. College DePaul University (DPU) $ 24,394 $ 25,490 $ 27,343 $ 28,858 $ 30, % $ 6,224 Private Eastern Illinois University (EIU) $ 7,990 $ 8,782 $ 9,429 $ 9,987 $ 10, % $ 2,544 IL Public 4-year Illinois State University (ISU) $ 9,019 $ 9,814 $ 10,531 $ 11,417 $ 11, % $ 2,813 IL Public 4-year Northern Illinois University (NIU) $ 7,871 $ 8,589 $ 9,403 $ 10,180 $ 11, % $ 3,273 IL Public 4-year Southern Illinois University Edwardsville (SIUE) $ 7,033 $ 7,324 $ 8,336 $ 8,401 $ 8, % $ 1,832 IL Public 4-year University of Illinois at Chicago (UIC) $ 10,546 $ 11,716 $ 12,034 $ 12,056 $ 12, % $ 2,110 IL Public 4-year University of Illinois at Urbana-Champaign (UIUC) $ 11,130 $ 12,106 $ 12,528 $ 13,096 $ 13, % $ 2,708 IL Public 4-year University of Iowa (UI) $ 6,293 $ 6,544 $ 6,824 $ 7,417 $ 7, % $ 1,472 Non-IL Public University of Missouri-Columbia (UMC) $ 7,603 $ 8,467 $ 8,501 $ 8,501 $ 8, % $ 1,386 Non-IL Public Descriptive Statistics: ISU Rank (Most to least expensive) Minimum $ 6,293 $ 6,544 $ 6,824 $ 7,417 $ 7, % $ 864 Maximum $ 24,394 $ 25,490 $ 27,343 $ 28,858 $ 30, % $ 6,224 Mean $ 11,146 $ 11,920 $ 12,698 $ 13,223 $ 13,923 $ 2,777 Standard Deviation $ 5,737 $ 6,002 $ 6,395 $ 6,787 $ 7,192 1

2 Net Price Comparison Illinois State University ranked as one of the lower net price institutions, switching between seventh and eighth place among its top ten competitors. However, it had the fourth largest percent increase in net price (18.6%) and the fifth largest dollar increase in net price ($2,153)(Table 2 and Figure 2). The College of DuPage was the only institution with a decrease in their net price over the four years of analysis (-26.3%)(Table 2). The College of DuPage also had the second highest growth in matriculates from Illinois State University s application pool over the past 5 years (5 year 127%) (Appendix A). Table 2 Comparison of net price of ISU against top 10 competitor schools, Institution Name Trend line Percent Dollar Type Bradley University (BU) $ 20,029 $ 21,123 $ 22,447 $ 22, % $ 2,891 Private College of DuPage (COD) $ 7,505 $ 7,916 $ 5,996 $ 5, % $ (1,970) Comm. College DePaul University (DPU) $ 23,142 $ 23,656 $ 22,732 $ 24, % $ 1,063 Private Eastern Illinois University (EIU) $ 10,590 $ 11,218 $ 12,668 $ 13, % $ 3,112 IL Public 4-year Illinois State University (ISU) $ 11,569 $ 12,202 $ 13,757 $ 13, % $ 2,153 IL Public 4-year Northern Illinois University (NIU) $ 11,460 $ 13,489 $ 14,393 $ 16, % $ 5,108 IL Public 4-year Southern Illinois University Edwardsville (SIUE) $ 11,274 $ 16,278 $ 16,758 $ 15, % $ 4,288 IL Public 4-year University of Illinois at Chicago (UIC) $ 7,356 $ 8,054 $ 8,171 $ 8, % $ 1,341 IL Public 4-year University of Illinois at Urbana-Champaign (UIUC) $ 13,866 $ 14,844 $ 15,024 $ 15, % $ 1,744 IL Public 4-year University of Iowa (UI) $ 12,587 $ 12,829 $ 12,839 $ 14, % $ 1,658 Non-IL Public University of Missouri-Columbia (UMC) $ 13,806 $ 15,080 $ 15,202 $ 15, % $ 1,953 Non-IL Public Descriptive Statistics: ISU Rank (Most to least expensive) Minimum $ 7,356 $ 7,916 $ 5,996 $ 5, % $ (1,970) Maximum $ 23,142 $ 23,656 $ 22,732 $ 24, % $ 5,108 Mean $ 13,017 $ 14,244 $ 14,544 $ 15,139 $ 2,122 Standard Deviation $ 4,564 $ 4,626 $ 4,822 $ 5,083 2

3 Within the net price comparison there were two groups of outliers. DePaul University and Bradley University had net prices that were well above all other competitors. Northern Illinois University had the third highest net price in 2012, but was still $6,352 lower than Bradley University. The University of Illinois at Chicago and the College of DuPage had net prices that fell well below the other competitors. Eastern Illinois University was closest to them and averaged $3,975 above their net price (Figure 2). 3

4 METHODS AND DEFINITIONS: For the general public, publicized tuition and fees are a convenient starting point for evaluating the cost of education at a particular institution. However, while this unit provides a baseline from which to start comparing colleges and universities, it does not take in to consideration additional cost such as room and board costs or financial assistance that may be provided to the student from many different sources. These factors may alter the cost of attendance between institutions. Net price is another widely used measure for comparing educational costs. The Integrated Postsecondary Education System (IPEDS) provides net price by calculating the average amount in-state students actually pay to attend the institution, including room and board costs, and subtracting the average amount of national, state, local, and institutional grant aid for in-state students. Room and board costs may be an important consideration for some students. However, universities have some leeway in determining how to calculate room and board costs 1, making it difficult to interpret this measure. In addition, net price is limited because it only covers the subpopulation of students that both pay the in-state tuition rate and receive grant aid. 1 Communication with officials from IPEDS revealed that the higher education institutions are only instructed to use the same methods to determine room and board costs as they use to determine financial aid eligibility for students. Institutional policies vary, limiting the reliability of this measure. 4

5 Appendix A List of Competitor Institutions Institution School Type rank 1-yr 5-yr University of Illinois 4 year Public in state % -27% University of IL Chicago 4 year Public in state % 19% University of Iowa 4 year Public out of state % 0% Northern IL University 4 year Public in state n/a % University of Missouri 4 year Public out of state % 229% DePaul University 4 year Private % 2% Bradley University 4 year Private % 13% Eastern IL University 4 year Public in state % -10% Southern IL Edwardsville 4 year Public in state % 76% College of DuPage 2 year Public in state % 127% Western IL University 4 year Public in state % 30% Loyola University Chicago 4 year Private % 22% WR Harper College 2 year Public in state % 64% Southern IL Carbondale 4 year Public in state % -16% Marquette University 4 year Private % 0% North Central College 4 year Private % 40% Indiana University 4 year Public out of state % -47% Bloomington Illinois Wesleyan 4 year Private % -17% Moraine Valley 2 year Public in state % 51% Parkland College 2 year Public in state % 58% Joliet Junior College 2 year Public in state % 63% Augustana College 4 year Private % -35% Purdue University 4 year Public out of state % -47% Elmhurst College 4 year Private % -21% Western Michigan 4 year Public out of state % 31% University Iowa State University 4 year Public out of state % 36% University of Wisconsin 4 year Public out of state % 67% Whitewater Lewis University 4 year Private % 37% Saint Louis University 4 year Private % 200% Heartland CC 2 year Public in state % 156% University of Dayton 4 year Private % 15% Information Not Available Illinois State University Enrolled *Data in red indicates Top 10 enrollment of given semester. *Data from National Student Clearinghouse, November

6 Appendix B Top 25 Competitor Institutions Table 3 Comparison of tuition and fees of ISU against all of its competitor schools, Trend Percent Dollar Institution Name Line Type Augustana College $ 26,484 $ 30,150 $ 31,326 $ 32,235 $ 33, % $ 6,879 Private Bradley University $ 21,378 $ 22,814 $ 24,224 $ 25,424 $ 26, % $ 5,326 Private College of DuPage $ 9,344 $ 9,472 $ 10,523 $ 10,112 $ 10, % $ 864 Comm. College DePaul University $ 24,394 $ 25,490 $ 27,343 $ 28,858 $ 30, % $ 6,224 Private Eastern Illinois University $ 7,990 $ 8,782 $ 9,429 $ 9,987 $ 10, % $ 2,544 IL Public 4-year Elmhurst College $ 24,660 $ 26,060 $ 27,330 $ 28,660 $ 30, % $ 5,394 Private Harper College $ 9,834 $ 10,194 $ 8,226 $ 8,982 $ 9, % $ (756) Comm. College Illinois State University $ 9,019 $ 9,814 $ 10,531 $ 11,417 $ 11, % $ 2,813 IL Public 4-year Illinois Wesleyan University $ 30,750 $ 32,434 $ 33,982 $ 35,256 $ 36, % $ 5,822 Private Indiana University-Bloomington $ 7,837 $ 8,231 $ 8,613 $ 9,028 $ 9, % $ 1,687 Non-IL Public Joliet Junior College $ 6,983 $ 7,193 $ 7,547 $ 7,821 $ 8, % $ 1,302 Comm. College Lewis University $ 20,450 $ 21,990 $ 22,990 $ 23,780 $ 24, % $ 4,320 Private Loyola University-Chicago $ 27,966 $ 29,486 $ 30,656 $ 32,114 $ 33, % $ 5,328 Private Marquette University $ 26,678 $ 28,128 $ 29,096 $ 30,462 $ 31, % $ 5,144 Private Moraine Valley Community College $ 6,272 $ 6,816 $ 7,116 $ 7,416 $ 7, % $ 1,384 Comm. College North Central College $ 24,564 $ 25,938 $ 26,916 $ 28,224 $ 29, % $ 5,169 Private Northern Illinois University $ 7,871 $ 8,589 $ 9,403 $ 10,180 $ 11, % $ 3,273 IL Public 4-year Parkland College $ 6,900 $ 6,570 $ 7,290 $ 7,830 $ 7, % $ 870 Comm. College Purdue University-Main Campus $ 7,416 $ 7,750 $ 8,638 $ 9,070 $ 9, % $ 2,062 Non-IL Public Southern Illinois University Carbondale $ 8,899 $ 9,813 $ 10,411 $ 10,468 $ 11, % $ 2,139 IL Public 4-year Southern Illinois University Edwardsville $ 7,033 $ 7,324 $ 8,336 $ 8,401 $ 8, % $ 1,832 IL Public 4-year University of Illinois at Chicago $ 10,546 $ 11,716 $ 12,034 $ 12,056 $ 12, % $ 2,110 IL Public 4-year University of Illinois at Urbana-Champaign $ 11,130 $ 12,106 $ 12,528 $ 13,096 $ 13, % $ 2,708 IL Public 4-year University of Iowa $ 6,293 $ 6,544 $ 6,824 $ 7,417 $ 7, % $ 1,472 Non-IL Public University of Missouri-Columbia $ 7,603 $ 8,467 $ 8,501 $ 8,501 $ 8, % $ 1,386 Non-IL Public Western Illinois University $ 8,079 $ 8,862 $ 9,617 $ 10,149 $ 10, % $ 2,640 IL Public 4-year Descriptive statistics: ISU Rank (Most to least expensive) Minimum $ 6,272 $ 6,544 $ 6,824 $ 7,416 $ 7, % $ (756) Maximum $ 30,750 $ 32,434 $ 33,982 $ 35,256 $ 36, % $ 6,879 Mean $ 14,091 $ 15,028 $ 15,747 $ 16,421 $ 17,166 Standard Deviation $ 8,429 $ 9,010 $ 9,436 $ 9,859 $ 10,269 6

7 Table 4 Comparison of net price of ISU against all of its competitor schools, Institution Name Trend Percent Dollar line Type Augustana College $ 22,509 $ 25,081 $ 24,508 $ 21, % $ (669) Private Bradley University $ 20,029 $ 21,123 $ 22,447 $ 22, % $ 2,891 Private College of DuPage $ 7,505 $ 7,916 $ 5,996 $ 5, % $ (1,970) Comm. College DePaul University $ 23,142 $ 23,656 $ 22,732 $ 24, % $ 1,063 Private Eastern Illinois University $ 10,590 $ 11,218 $ 12,668 $ 13, % $ 3,112 IL Public 4-year Elmhurst College $ 19,125 $ 21,952 $ 20,091 $ 21, % $ 2,219 Private Harper College $ 6,175 $ 9,500 $ 5,447 $ 5, % $ (436) Comm. College Illinois State University $ 11,569 $ 12,202 $ 13,757 $ 13, % $ 2,153 IL Public 4-year Illinois Wesleyan University $ 24,214 $ 23,240 $ 25,821 $ 27, % $ 2,920 Private Indiana University-Bloomington $ 9,737 $ 10,367 $ 10,219 $ 10, % $ 587 Non-IL Public Joliet Junior College $ 3,706 $ 4,130 $ 5,411 $ 5, % $ 2,173 Comm. College Lewis University $ 16,341 $ 17,625 $ 17,237 $ 17, % $ 991 Private Loyola University-Chicago $ 26,964 $ 27,955 $ 28,491 $ 28, % $ 2,012 Private Marquette University $ 25,176 $ 24,839 $ 27,714 $ 28, % $ 3,570 Private Moraine Valley Community College $ 4,280 $ 4,622 $ 5,302 $ 5, % $ 916 Comm. College North Central College $ 19,570 $ 20,638 $ 20,237 $ 20, % $ 1,167 Private Northern Illinois University $ 11,460 $ 13,489 $ 14,393 $ 16, % $ 5,108 IL Public 4-year Parkland College $ 5,678 $ 5,335 $ 5,201 $ 5, % $ (614) Comm. College Purdue University-Main Campus $ 10,048 $ 10,620 $ 12,128 $ 12, % $ 2,486 Non-IL Public Southern Illinois University Carbondale $ 11,110 $ 12,358 $ 14,912 $ 13, % $ 2,289 IL Public 4-year Southern Illinois University Edwardsville $ 11,274 $ 16,278 $ 16,758 $ 15, % $ 4,288 IL Public 4-year University of Illinois at Chicago $ 7,356 $ 8,054 $ 8,171 $ 8, % $ 1,341 IL Public 4-year University of Illinois at Urbana-Champaign $ 13,866 $ 14,844 $ 15,024 $ 15, % $ 1,744 IL Public 4-year University of Iowa $ 12,587 $ 12,829 $ 12,839 $ 14, % $ 1,658 Non-IL Public University of Missouri-Columbia $ 13,806 $ 15,080 $ 15,202 $ 15, % $ 1,953 Non-IL Public Western Illinois University $ 11,897 $ 12,287 $ 13,479 $ 14, % $ 2,236 IL Public 4-year Descriptive statistics: ISU Rank (Most to least expensive) Minimum $ 3,706 $ 4,130 $ 5,201 $ 5, % $ (1,970) Maximum $ 26,964 $ 27,955 $ 28,491 $ 28, % $ 5,108 Mean $ 13,835 $ 14,894 $ 15,238 $ 15,573 $ 1,738 Standard Deviation $ 6,648 $ 6,700 $ 6,997 $ 7,146 7