The National Center for Education Statistics recently released a new Stats in Brief report on very-low and low-income students in postsecondary education. The data set, a part of the National Postsecondary Student Aid Study, highlights the different demographics, enrollment characteristics, financial aid characteristics, and price of attendance for students across family income levels.
Among the key findings across demographics:
- 45% of very-low and low-income students came from families with incomes of less than $30,000.
- 19% came from families with less than $9,999 in income and 14% came from families with incomes between $10,000 and $19,999.
- 39% of students who completed the FAFSA had an expected family contribution (EFC) of $0.
- 97% of students from families with income below 50% of the federal poverty level and 90% of students from families with income between 50% and 100% of the federal poverty level had an EFC of $0.
- The percentage of all students below the federal poverty level has increased since the 1999-2000 academic year.
- The number of students from families with income less than 50% of the federal poverty level increased from 7% in the 99-00 academic year to 17% in the 15-16 academic year.
- The number of students from families with incomes between 50% and 100% of the federal poverty level increased from 9% in the 99-00 academic year to 14% in the 15-16 academic year.
- Dependent students living below the poverty level were more likely to be female, first generation, first or second generation immigrants, and Black, Hispanic, or Asian, than dependent students who live above the poverty level.
Among the key findings relating to enrollment characteristics:
- Both dependent and independent students across all levels of income were more likely to attend public institutions.
- Independent students across all levels of income were more likely to enroll in a less than four-year institution. Dependent students from families with income under the federal poverty level were also more likely to enroll in a less than four-year institution.
- Dependent students from families with income below the federal poverty level were more likely to attend for-profit institutions than dependent students from families with income above the federal poverty level. Independent students from all income levels were more likely to attend for-profit institutions than dependent students from any income level.
Among the key findings relating to financial aid characteristics:
- Dependent students were more likely to apply for federal financial aid than independent students.
- 79% of dependent students applied for federal financial aid. 65% of independent students applied for federal financial aid.
- 37% of dependent students received a Pell grant. 43% of independent students received a Pell grant.
Among the key findings relating to the cost of college:
- The total price of attendance for dependent students, which includes tuition, fees, room, board, books, transportation and other personal expenses, averaged $29,200 across income levels and sector of enrollment. For independent students, the average total price of attendance across all income levels and sector of enrollment was $27,300.
- The average net price for dependent students, the price of attendance minus all grant aid, was $21,500 across all income levels and sector of enrollment. For independent students, the average next price was $21,100 across all income levels and sector of enrollment.
- The average out of pocket cost, the balance remaining after all aid has been taken into account, for dependent students was $14,500 across all income levels and sector of enrollment. For independent students, the average out of pocket cost was $ 13,600 across income levels and sector of enrollment.
