1 Regents Education Program September 26, 2006 Student Financial Aid.
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Transcript of 1 Regents Education Program September 26, 2006 Student Financial Aid.
![Page 1: 1 Regents Education Program September 26, 2006 Student Financial Aid.](https://reader037.fdocuments.net/reader037/viewer/2022110405/56649ee05503460f94bf0eeb/html5/thumbnails/1.jpg)
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Regents Education ProgramSeptember 26, 2006
Student Financial Aid
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Two Trends
1. Increasing Student Debt
2. Growth of “Merit” Aid vs. Need-Based Aid
“Hybrid” Programs
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1. Increasing
Student Debt
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Growth of Stafford, PLUS, and Nonfederal Loan Dollars in Constant (2004) Dollars, 1996-97 to 2004-05
(Source: College Board)
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Loans, Pell Grants, OTAG,OK Promise-OHLAP
(in $ millions; state institutions)
354
472
70112 130 141 150
19 20 18 19
286
391
177
89
150
100
200
300
400
500
'94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05
Loans Pell OTAG OK Promise-OHLAP
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Total Student Financial AidPublic &
Private/Independent
21%
79%
2004-05 Total = $1.1 Billion
Public$895
million
Private/Ind.$241
million
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Total Student Financial AidPublic &
Private/Independent
54%40%
6%
Total = $1.1 Billion FY2004-05
Grants/Schol.
$453 millionLoans$618
million
Employment$65 million
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% of Full-time Dependent Undergraduates Receiving Federal
LoansBy Student’s Family Income
48% 47% 48%
31%
47% 48%
13%
32%38%
0%
10%
20%
30%
40%
50%
60%
1993 2000 2004
Low Inc. Middle Inc. High Inc.
Source: U.S.D.E, Nat. Cntr. for Education Statistics; “Condition of Education 2006”
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2. Growth of
“Merit” Aid vs. Need-Based Aid
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10 Source: Based on annual survey of National Association of State Student Grant and Aid Programs (NASSGAP).
State Grants to Undergraduate Students
Total Need-Based and Non-Need-Based State Grants in Constant (2004)
Dollars, 1969-70 to 2003-04
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Maximum Federal Pell Grant Award
2,4702,700
3,000 3,1253,300
3,7504,000 4,050 4,050 4,050 4,050
1,587 1,7081,893 1,928 2,054
2,312 2,459 2,497 2,494
$0
$1,000
$2,000
$3,000
$4,000
$5,000
'96-97
'97-98
'98-99
'99-00
'00-01
'01-02
'02-03
'03-04
'04-05
'05-06
'06-07
Average OK Pell Grant Award (est.); Range: $400 - $4,050
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Federal Pell Grant AwardsCompared to State College Costs in OK
(tuition, fees, room & board, books & supplies)
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
'96-97
'97-98
'98-99
'99-00
'00-01
'01-02
'02-03
'03-04
'04-05
'05-06
Tw o-Yr. Coll Reg. Univ. Res. Univ. OK Avg. Pell Max. Pell
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“Hybrid”Programs
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OK Promise/OHLAP High School Enrollment
(by High School Graduation Year)
93568180
77577185
5881
1361 14432419
0
2000
4000
6000
8000
10000
2000 2001 2002 2003 2004 2005 2006 2007
$32,000
$50,000
$24,000
10th Grade*
As of 9-21-06
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% of Ok. HS Sophomores Enrolled inOK’s Promise (approximate)
20%18%17%
16%
3%5%
13%
0%
10%
20%
'98-99 '99-00 '00-01 '01-02 '02-03 '03-04 '04-05
$32,000
$50,000
$24,000
As of 11-17-05
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OK Promise/OHLAP High School “Completers”
(by Grad Year)
5,5985,3545,050
4,216
1,624
885827631636257 370
0
2,000
4,000
6,000
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
$32,000
$50,000
$24,000
As of 9-21-06
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High School GPA’sfor All Courses
3.49 3.55 3.51 3.48 3.47 3.49 3.49 3.49 3.47 3.46
2.89 2.92 3.00 2.97 2.99 3.00 3.00 3.00 3.00
2.0
2.5
3.0
3.5
4.0
'96 '97 '98 '99 '00 '01 '02 '03 '04 '05
OHLAP OK Seniors
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Gender Participation TrendsOK-Promise High School Grads, 1999-
2005
63% 64% 63% 64% 61% 60% 60%
37% 36% 37% 36% 39% 40% 40%
0%
50%
100%
1999 2000 2001 2002 2003 2004 2005
Female Male
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Geographic Distribution Trends OK-Promise High School Grads, 1999-
2005
69%70%73%75%74%78%80%
54%46%
20% 22% 26% 25% 27% 30% 31%
0%
25%
50%
75%
100%
'99 '00 '01 '02 '03 '04 '05
Rural OHLAP Rural OK Urban OK Urban OHLAP
“Urban” is defined as the 5 most populous counties– Oklahoma, Tulsa, Cleveland, Canadian, and Comanche.
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OK-Promise Enrollment as % of 10th-Grade Enrollment, By
School Size
29%29%
22%18%18%
16%13%14%
9%
31%30%
24%21%21%
16%20%
15%11%
0%
10%
20%
30%
40%
>5
00
4-5
00
3-4
00
2-3
00
1-2
00
75
-10
0
50
-74
25
-49
2-2
4
2004 2005
# of students in 10th-grade class
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Degree Completion RatesClasses of 1996 to 2000
(Degrees earned through 2004-05)
36.0%42.6%
47.2% 50.0% 50.1%39.9%
49.9%
58.2%54.6%
63.6%
0.0%
25.0%
50.0%
75.0%
2000 1999 1998 1997 1996
OHLAP All Students
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OK Promise/OHLAPScholarship Recipient
Projections
619 850 1,245 1,717 2,0042,982
5,888
9,156
12,088
15,000
17,800
0
5,000
10,000
15,000
20,000
97
-98
98
-99
99
-00
00
-01
'01
-02
'02
-03
'03
-04
'04
-05
'05
-06
'06
-07
'07
-08
Actual Projected
Assumes 5% annual increases in OHLAP enrollment and 70% requirement-completion rate.
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OK Promise/OHLAPCost Projections
(In $ millions, by fiscal year, varying tuition rates)
4.610.4
17.826.0
37.0
48.2
58.3
53.146.0
48.243.8
$0
$10
$20
$30
$40
$50
$60
$70
FY
'03
FY
'04
FY
'05
FY
'06
FY
'07
FY
'08
FY
'09
Actual 10% 5% 0%
Assumes 5% annual increase in high school OHLAP enrollment; 70% requirement completion rate.
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OK Promise/OHLAPFunding Sources – FY2007
General Rev28%
Lottery45%
Casino Gaming
13%
Oil Tax Rev14%
Total: $37.1 million
$5.1 m
$10.3 m
$4.9 m
$16.7 m
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New Federal Grantsfor Pell Grant Recipients
(available Fall 2006)
Academic Competitiveness Grants
SMART (Science and Mathematics Access to Retain Talent) Grant
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Academic Competitiveness Grants
$750 for 1st-year; $1,300 for 2nd-year Pell-Grant recipient Enrolled full-time Must have completed a “rigorous
secondary school program of study” 3.0 college GPA for 2nd-year students
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National “SMART” Grants
$4,000 for 3rd & 4th-year students Pell-Grant recipient Full-time enrollment 3.0 college GPA Major in physical sciences, life
sciences, computer science, engineering, math, technology, or critical foreign language
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End
Student Financial Aid