Did You Know?

Reprinted with permission from the Lumina Foundation.

  • College prices continue to rise much faster than financial aid and family incomes.
  • Only six percent of low-income students earn a bachelors degree, compared to forty percent of high-income students.
  • Educational debt burdens are growing for college graduates, especially low-income students and those pursuing careers in social services, humanities, nursing, and education.
  • Students with high educational debt are less likely to continue college beyond the first and second year.
  • The federal government provides two-thirds of all financial aid - and 75% of this aid is in the form of loans.
  • During the 10-year period ending in 2000-2001, after adjusting for inflation, average tuition and fees rose 40% at public four-year colleges and 33% at private four-year colleges.
  • Financial aid programs based on merit are growing faster than need-based programs at the state and institutional levels.
  • Need-based grants encourage low-income students to continue college beyond their first year.
  • For low-income families, average unmet need - the amount of money needed each year to pay for college after financial aid and expected family contributions are applied - was nearly $5,000 in 2000, a 14% increase since 1996.
  • Only 47% of low-income high school graduates enroll in four-year colleges, compared to 67% of high-income high school graduates.
  • Low-income and first-generation students benefit from campus interventions that address the lack of adequate academic preparation, the lack of family support, the difficulties of the transition to college and cultural conflict between the home and college community.