What is financial aid?

2012 Financial Aid Awards Paid by Type

58%21%

15%4%

1% 0.04%

LoansGrantsState / Federal Schol-arshipsInstitutional / Foundation ScholarshipsPrivate ScholarshipsWork Study

2012 Loans by Source

35%

59%

3%3%

Federal Need Based

Federal Non-Need Based

Parent

Private

How much debt do college students accumulate?

What did student tuition and graduate debt look like at public and private nonprofit colleges/universities in 2010

http://www.nytimes.com/interactive/2012/05/13/business/student-debt-at-colleges-and-universities.html?ref=business

University of North FloridaAverage debt $15,300Tuition and fees $4,193

What do you think the national average student debt was for baccalaureate graduates from public institutions in 2008?

• A. $15,500• B. $20,200• C. $33,300

Average student debt by type of institution –2004 and 2008

Public Private nonprofit Private for-profit

2004

2008

$16,850$21,500

$26,850$20,200

$27,650

$33,050

What percentage of baccalaureate graduates from public institutions graduated with student loan debt in 2008?

• A. 43%• B. 62%• C. 85%

Percent of graduating seniors with student loan debt: 2008

Public Private nonprofit Private for-profit

62%72%

96%

What percentage of UNF students graduated with debt in 2010-2011?

• A. 39% of UNF undergraduates• B. 53% of UNF undergraduates• C. 60% of UNF undergraduates

Percent of graduating seniors within the SUS with student loan debt: 2010-2011

FAMU FAU FGCU FSU NCF UCF UF UNF USF

86%

46%

36%

48%

36%41% 40% 39%

52%

Average amount of debt for 2010-11 bachelor's degree graduates

FAMU FAU FGCU FIU FSU NC UCF UF UNF USF

$29,554

$18,587

$22,171

$17,256

$22,139

$14,172

$20,624

$16,841 $16,572

$21,784

Average amount of debt for 2010-11 bachelor's degree graduates

FAMU FAU FGCU FIU FSU NC UCF UF UNF USF

$29,554

$18,587

$22,171

$17,256

$22,139

$14,172

$20,624

$16,841 $16,572

$21,784

Repayment of $190.71 per month for 10 years. With income of $31,300 it becomes $182 per month for 10 years

Early-leavers last enrolled fall 2011

Average Cumulative Federal Loans $10,365

% Early-leavers w/loans 48%

Students who broke continuous enrollment may have left due to: SAP, transferred out, costs of

education or other reasons

2010-11 2011-12$0

$5,000

$10,000

$15,000

$20,000

$16,722$16,293

UNF Average Student Loan Debt Graduating Seniors

Average Cumulative Federal Loans (including PLUS)

How many students graduate with $100,000 or more in student loans

1992-93 1995-96 1999-00 2003-04 2007-080

10000

20000

30000

40000

50000

60000

70000

80000

24007800

3,000 3,300

21,200

51,100

70,800

undergaduate students graduate students

Cohort Default Rate

Cohort Default Rate=

The percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loans and/or William D. Ford Federal Direct Loans during that fiscal year and default (or meet the other specified condition) within the cohort default period.

# of borrowers in the numerator who defaulted or met the other conditions during the cohort default period (2 to 3 years after graduation)_______________________________________________________

# of borrowers who entered repayment in the cohort fiscal year

Sanctions for schools with high official cohort default rates

School Sanctions

A school's three most recent official cohort default rates are ≥ 25.0% for the two year calculation, or ≥ 30.0% for both the three year calculation.

Except in the event of a successful adjustment or appeal, such a school will lose Direct Loan and Federal Pell Grant program eligibility for the remainder of the fiscal year in which the school is notified of its sanction and for the following two fiscal years.

A school's current official cohort default rate is > 40.0%, for both the two year and three year CDR calculation.

Except in the event of a successful adjustment or appeal, such a school will lose Direct Loan program eligibility for the remainder of the fiscal year in which the school is notified of its sanction and for the following two fiscal

What was UNF’s 2-year cohort default rate in 2009?

• A. 5.6%• B. 6.4%• C. 9.2%

Student loan 2nd year cohort default rate:Jacksonville institutions

UNFJU

EWCFSCJ

4.2% 5.7%

20.2%

13.2%5.6% 9.2%

17.2%

12.6%

2007 2009

Student loan 2nd year cohort default rateSUS and national figures

8.8%

4%5%

4.3%3.2% 4%

2.1%

4.2% 4.2%3.5% 4% 4.3%

11%

6.7%

12.8%

4.8% 4.6%5.8%

3.5%

5.4%4.5%

2%

5.6%6.4%

5.5% 5.2% 5.2%

15%

8.8%

2006-07 2008-09

Is a college degree worth the rising costs of an education?

4-years of tuition and fees at private, for-profit, and public institutions *Assumes a 4% tuition increase. Books, room and board not included

$0 $20,000 $40,000 $60,000 $80,000

$100,000 $120,000 $140,000 $160,000 $180,000

$186,802 $184,993 $183,889

$116,141 $106,374 $98,730

$64,759 $63,425 $59,731

Salish Kootenai C

ollege

Brigham Young U

niversity

Berea College

National Americ

an Universi

ty

United States U

niversity

American Public

Universi

ty

Macon State Colle

ge

University of H

awaii Maui C

ollege

West

Virginia U

niversity at P

arkersburg

$0 $20,000 $40,000 $60,000 $80,000

$100,000 $120,000 $140,000 $160,000 $180,000

$16,994 $15,542 $3,864 $28,876 $26,753 $25,479

$9,996 $9,504 $8,816

4-years of tuition and fees at private, for-profit, and public institutions *Assumes a 4% tuition increase. Books, room and board not included

$0 $20,000 $40,000 $60,000 $80,000

$100,000 $120,000 $140,000 $160,000 $180,000

$186,802 $184,993 $183,889

$116,141 $106,374 $98,730

$64,759 $63,425 $59,731

Salish Kootenai C

ollege

Brigham Young U

niversity

Berea College

National Americ

an Universi

ty

United States U

niversity

American Public

Universi

ty

Macon State Colle

ge

University of H

awaii Maui C

ollege

West

Virginia U

niversity at P

arkersburg

$0 $20,000 $40,000 $60,000 $80,000

$100,000 $120,000 $140,000 $160,000 $180,000

$16,994 $15,542 $3,864 $28,876 $26,753 $25,479

$9,996 $9,504 $8,816

UNF $ 27,301

Average state expenditure and student tuition cost per FTE at public universities

current dollars

1985 (77%/23%)

………….. 2000 (71%/29%)

. . . . 2005 (64%/36%)

. . . 2009 (62%/38%)

2010 (60%/40%)

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

10122492

3337 4122 43213330

60015912

6858 6451

tuition state support

Average state expenditure and student tuition cost per FTE at public universities

constant 2010 dollars

1985 (77%/23%)

………….. 2000 (71%/29%)

. . . . 2005 (64%/36%)

. . . 2009 (62%/38%)

2010 (60%/40%)

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

22743337 3760 4178 4321

7279

8035 66626951 6451

tuition state support

Average per FTE funding across the SUS:2006-07 2011-2012

2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$3,586 $3,525 $3,739 $4,168 $4,423 $4,906

$8,394 $8,182 $7,586 $6,335 $6,427 $5,687

$528 $494

Tuition & Fees  Other Trust Funds  GR and Lottery

Per FTE funding across SUS institutions: 2011-2012

FAMU (40%/60%)

FAU (40%/60%)

FGCU (53%/47%)

FIU (52%/48%)

FSU (43%/57%)

NCF (27%/73%)

UCF (50%/50%)

UF (51%/49%)

UNF (47%/53%)

USF (41%/59%)

UWF (43%/57%)

$0

$5,000

$10,000

$15,000

$20,000

$5,501 $4,250 $4,669 $4,832 $5,033 $5,840

$4,351 $6,621

$4,610 $4,239 $4,131

$8,380

$6,357 $4,206 $4,494

$6,771

$15,891

$4,326

$6,482

$5,174 $6,102 $5,417

Tuition & Fees  GR & Lottery

What are the benefits

Who worked and how much did they earn in 2011

Unemployment rates Mean weekly income

doctoral

professional

master's degree

bachelor's degree

associate degree

some college

high school diploma

less than HS diploma

2.5%

2.4%

3.6%

4.9%

6.8%

8.7%

9.4%

14.1%

doctoral

professional

master's degree

bachelor's degree

associate degree

some college

high school diploma

less than HS diploma

$1,551

$1,665

$1,263

$1,053

$768

$719

$638

$451

Unemployment & Underemployment

What do you think the unemployment rate is for young adults with baccalaureate degrees?

• A. 9.4%• B. 19.1%• C. 31.1%

Unemployment for young adults 2012

college high school0%

10%20%30%40%50%60%70%80%90%

100%

9.4%31.1%

unemployed

unemployed

What do you think the underemployment rate is for young adults with baccalaureate degrees?

• A. 15%• B. 19.1%• C. 29.4%

Unemployment and underemployment for young adults 2012

college high school0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

9.4%

31.1%19.1%

54.0%

unemployed underemployed

Wages earned

Annual salaries for groups based on educational levelcalculated in 2010 dollars

Average annual salaries for men Average annual salaries for women

1990 1995 2000 2005 2006 2007 2008 2009 2010$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

some high school high school diplomasome college associate'sbachelor's master'sprofessional doctoral

1990 1995 2000 2005 2006 2007 2008 2009 2010$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

some high school high school diplomasome college associate'sbachelor's master'sprofessional doctoral

Salary ranges by educational level: 2010$1

to $

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9

$5,0

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$10,

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$35,

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$40,

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or m

ore0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

6.7%6.4% 8.8% 9.3% 11.7% 9.6% 9.6% 7.4% 11.5%13.2%

3.4% 2.5%

high school

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23.2%

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Chart Title

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2.9% 1.6% 1.6% 3.0% 1.8% 1.4% 2.2% 3.1% 6.6%

16.6%12.5%

46.6%Chart Title

Average entry level salary for bachelor’s degree graduates: 2011

16% of UNF graduates 21% of UNF graduates

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$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$63,400

$49,500

$35,200 $31,300

Average midcareer salary for bachelor’s degree graduates

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$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000 $112,000

$70,200 $58,300 $54,400

Tangible and Intangible Benefits

What are the benefits

to the individual

• higher earning power• lower unemployment• greater self-satisfaction• physically healthier• more stable marriages• children perform better in

school• children survive divorce

better

to the society

• higher tax revenues• needed professionals• college educated individuals

are more civically involved• college educated individuals

are more likely to start businesses

• college educated individuals contribute more to the arts