The Texas Story on. Higher Education

Transcription

1 SESSION MISSION: The Texas Story on Student t Aid and Higher Education Jeff Webster, Carla Fletcher, Chris Fernandez, Kasey Klepfer Tweet with the hashtag #tgconf Part 1: Part 1: Demographics, College Readiness, and Profile of Texas College Students 1

2 Demographics Texas Population by Age in Millions and Percentage of Total in Each Year: 2010 and 2050 (Projected) Projected 6.9 (27%) 9.7 (24%) 2.6 (10%) 3.8 (9%) 10.6 (26%) 9.3 (23%) 7.1 (28%) 6.0 (24%) 2.6 (10%) 7.9 (19%) Less than Demographics 2

3 Demographics People Without Health Insurance, by State (Three-year Average, ) 24% 19% 21% 16% 13% 14% 11% U.S. California Texas New York Florida Illinois Pennsylvania States shown in order by size of population College Readiness High School Graduation Rates, by Race/Ethnicity ( ) White African-American Hispanic 85% 70% 63% 92% 82% 81% 86% 76% 63% 69% 64% 59% 89% 88% 77% 74% 65% 65% California Texas New York Florida Illinois Pennsylvania States shown in order by size of population 3

4 College Readiness People Age 25 and Older Who Have Not Finished High School (2012) Whites African-Americans Hispanics 9% 17% 36% 41% 39% 12% 13% 6% 7% 38% 35% 33% 24% 19% 20% 16% 16% 10% 9% 9% 7% U.S. California Texas New York Florida Illinois Pennsylvania States shown in order by size of population College Readiness PSAT/NMSQT Test Takers Who Are on Track to be College Ready ( ) Percentage of 2012 High School Seniors Scoring at Least a 3 on at Least One AP Test in High School 37% 49% 34% 41% Texas U.S. 7.1% 11.6% 16.7% 19.5% Juniors Sophomores

5 College Readiness Percentage of Texas High School Graduates Enrolled in Texas Higher Education in Fall % 57% Percentage of Texas High School Graduates Who Enrolled in Texas Higher Education in Fall % 6% 6% 75% 44% 57% 19% 23% 50% 25% 94% 56% 94% 43% Economically Disadvantaged Minimum Not Economically Disadvantaged College Prep 0% Minimum College Minimum College Prep Prep Economically Disadvantaged Two-year Not Economically Disadvantaged Four-year Profile of College Students Enrollment Intensity of Undergraduates in Texas by School Sector (Fall 2011) Full time Part time 84% 88% 64% 73% 36% 27% 16% 12% Public Two-year Colleges Public Four-year Universities Private Four-year Universities Proprietary Schools 5

6 Part 2: College Costs, Student Aid, and Unmet Need College Costs $50,000 Costs for Two Semesters, AY $40,000 $38,487 $41,555 $30,000 $20,000 $20,147 $22,011 $15,462 $16,279 Tuition and fees Books and supplies Food and housing Other expenses $10,000 $0 Texas Nation Texas Nation Texas Nation Public 4-Year Public 2-Year Private 4-Year 6

7 Source of Aid Texas U.S. Institutional 10% State 6% Federal 85% Institutional 20% State 6% Federal 74% Work-study 1% Work-study 1% Grants 40% Loans 60% Grants 48% Loans 51% Student Aid: Transfer Students U.S. Low-income AY Bachelor s Recipients Median Cumulative Loan Debt and Percentage Who Borrowed $27,000 $25,000 70% 71% 79% 85% $20,000 $19,900 Public 4-year Private 4-year Public 4-year Private 4-year Native Transfer Native Transfer 7

8 Student Aid: Grants Total State Grant Aid, in Millions of Dollars AY AY $1,495 $1,272 $965 $897 $467 $380 $584 $491 $408 $431 $457 $369 California Texas New York Florida Illinois Pennsylvania States shown in order by size of population Student Aid: Loans Texas Federal Loan Volume by School Type FY School Type Amount (in %of Millions) Amount Public Four-year $2,929 59% Private Four-year $904 18% Two-year $740 15% Proprietary $386 8% Texas State Loan Volume AY Loan Program Amount (in Millions) HHL-CAL Loan $90 B-on-Time Loan $55 8

9 Student Aid: Loans Percent of FY 2011 B-On-Time Allocated Funding Used, by Sector 90% 64% Private 4-year Public 4-year Public 2-year 3% Unmet Need Average Unmet Need by Race/Ethnicity for Texas Public Institutions (Fall 2011) $7,703 $6,949 $7,246 $7,471 $7,241 $8,046 $8,498 $7,704 $7,575 $7,570 White African-American Hispanic Other/Unknown Total Public Four-year Public Two-year 9

10 Part 3: Attainment and Work Attainment Texas Student Pipeline by Race/Ethnicity Transition Rates from 7th Grade to College Completion White African-American Hispanic 88% 87% 87% 74% 64% 61% 62% 48% 41% 19% 10% 11% Enrolled in 9th Grade (FY 2002) High School Graduate (FY ) Enrolled in Higher Education Higher Ed Degree or Certificate (FY 2011) 10

11 Attainment Full-time, First-time Freshmen Who Entered a Texas Public University and Received a Bachelor's Degree within Six Years, by Ethnicity 47% 57% 59% 53% 65% 67% 28% 37% 38% 34% 45% 49% Total White African-American Hispanic Year student entered Attainment Population Age 25 and Older with a Bachelor's Degree or Higher, by Race/Ethnicity (2012) Non-Hispanic Whites African-Americans Hispanics 43% 34% 21% 22% 15% 12% 39% 37% 26% 24% 18% 13% 33% 23% 20% 36% 24% 12% 29% 21% 14% U.S. California Texas New York Florida Illinois Pennsylvania States shown in order by size of population 11

12 Work 70 Hours of Minimum Wage Work per Week Needed to Pay for a Public U.S. University Undergraduate Education (1964 to 2011) Work Annual Earnings, Full-Time U.S. Workers: 25th, 50th, and 75th Percentiles Annual Salary, Full-Time Wo orkers $200,000 $180, $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40, $20,000 $20,600 $30,000 $33,000 $40, $52,000 $65,000 $85,000 $100,000 $0 Less Than High School Diploma High School Diploma Some College Associate Degree Bachelor's Degree Highest Level of Education Master's Degree Doctoral Degree Professional Degree 12

13 Work Projected Percentage (and Number in Thousands) of Total Jobs in Texas by Typical Entry Education Level in % (3,447) 25% (3,629) 21% (2,961) 14% (1,981) 7% (1,076) 9% (1,303) High School Dropout High School Graduate Some College Associate Degree/Cert. Bachelor's Degree Master's Degree or Higher Part 4: Default Rates and Higher Education Policy 13

14 Default Rates Two- and Three-year Cohort Default Rates for the Nation and by Texas Region (FY 2010) 14.7% 14.9% 9.1% 9.2% 2-year CDR 3-year CDR 16.6% 15.6% 14.2% 11.2% 11.3% 10.1% 21.5% 14.6% 18.5% 13.1% 13.5% 20.5% Nation Central Texas Metroplex Gulf Coast Panhandle East Texas West Texas Rio Grande Valley Default Rates TG Three-year Cohort Default Rates by School Type and Enrollment Status 32.1% 23.5% 18.0% 13.5% 12.5% 10.2% 5.5% 4.1% Four-year Public Four-year Private Proprietary Two-year Graduated Withdrawn 14

15 Higher Education Policy If Texas can meet its 2015 Closing the gaps goals, it will produce annual gains between 2006 and 2030 of: $489.6 billion in spending $194.5 billion in gross state product $121.9 billion in personal Income Texas has already met, or is poised to meet, two of the four overall goals of Closing the Gaps. Higher Education Policy Major Texas Financial Aid Programs Funding in Three Bienniums (in millions, rounded) Aid Program TEXAS Grant $622 $580 $725 TEG $212 $169 $180 BOT Loan $157 $107 $112 Top Ten Percent Scholarship $52 $40 $40 Texas Research Incentive Program $48 $70 $36 TEOG $24 $23 $28 Texas Work Study $15 $18 $19 Family Practice Residency $20 $13 $5 Teach for Texas Loan Repayment $12 $1 $4 15

16 Higher Education Policy Total Texas Debt Load (in billions) $70.6 $65.2 $59.4 FY 2011 FY 2012 FY 2013 State of Student Aid and Higher Education in Texas tg.org/research/sosa.cfm 16

17 Questions? This presentation is available for download at Texas Guaranteed Student Loan Corporation To order additional copies, or to request permission to reproduce any of the information provided, please call TG Communications at (800)