The Institute for Higher Education Policy (IHEP) recently released “Opportunity Lost: Net Price and Equity at Public Flagship Institutions,” a report examining the net price at public flagship institutions for first year, full-time students from various socioeconomic backgrounds. The report is based on five fictional nationally representative academic and demographic profiles that highlight differences in income and dependency status. In the report, affordability is defined as having all financial need met at the in-state flagship institution after accounting for state and institutional aid, as well as a reasonable family contribution.
Among the findings:
- Since 2000, state support for higher education dropped from 71% of the total cost of an education to 54%, while student share of cost increased to 46% from 29%.
- 41 of 50 states provide fewer funds per student now than they did in 2008.
- At the same time, aid has shifted from predominantly need-based to merit-based aid. This puts an additional burden on low-income students to fund their education.
- Only 6 of 50 flagship institutions leave all but the highest income dependent students without unmet need.
- For the lowest income dependent students, only four flagships leave these students with no unmet need.
- For middle class dependent students, only one flagship institution leaves the student without unmet need.
- On the other end of the spectrum, at all 50 flagships the highest income students are left with no unmet need due to merit-based aid from their institutions and greater family contributions.
- The other 44 institutions leave low-income dependent students in a variety of need.
- Some flagship institutions leave low-income students with unmet need of less than $2,000 a year, and other flagships leave low-income students with unmet need in excess of $20,000 annually.
- For independent students, the situation is more dire.
- Only two flagship institutions leave independent students without dependents with no unmet need, and only three flagship institutions leave independent students with dependents with no unmet need. This last group of students comprises roughly 25% of all students nationwide.
- Despite their general affordability, the most affordable flagship institutions often enrolled the lowest proportion of Pell-eligible students.
- Five of the ten most affordable flagships for low-income students enroll less than 15% Pell-eligible students.
- Nationally, very selective institutions (which many flagships are) enroll 30% Pell-eligible students.
- Some flagship institutions do enroll Pell-eligible students at rates above the national average, but these tend to be the most expensive flagship institutions for Pell-eligible students to attend.
- No flagship institutions enroll Pell-eligible students above the national rate and leave these students with no unmet need.
