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ERIC Number: ED514033
Record Type: Non-Journal
Publication Date: 2010-Dec
Pages: 18
Abstractor: ERIC
Reference Count: 10
ISBN: N/A
ISSN: N/A
What Is the Price of College? Total, Net, and Out-of-Pocket Prices in 2007-08. Stats in Brief. NCES 2011-175
Wei, Christina Chang
National Center for Education Statistics
This Statistics in Brief illustrates the kinds of questions that national data can answer about the amounts U.S. undergraduates pay annually, on average, for postsecondary education, with and without financial aid. This brief draws upon the National Postsecondary Student Aid Study (NPSAS), a nationally representative survey of all postsecondary students enrolled in Title IV institutions. Key findings include: (1) There is a wide range of prices for postsecondary education. This Brief shows the "total price of attendance" (tuition and living expenses), the "net price after grants" (total price of attendance minus all grants), and the "out-of-pocket net price" (total price of attendance minus all financial aid) for the four major types of postsecondary institutions; (2) Full-time students enrolled at public 2-year institutions had the lowest average total price of attendance ($12,600). Those at public 4-year institutions had an average total price of $18,900, those at for-profit institutions had an average total price of $28,600, and those at private non-profit 4-year institutions had the highest average total price ($35,500); (3) After all financial aid is received (including grants, loans, and work-study), the average out-of-pocket net price ranged from $9,100 at public 2-year institutions to $10,300 at public 4-year institutions, $16,000 at for-profit institutions, and $16,600 at private nonprofit 4-year institutions; (4) Along with income, a student's total price of attendance is also a factor in determining eligibility for financial aid. Students at a lower priced institution will have less eligibility for aid than if they had attended a higher priced institution. Those attending private institutions had the highest tuition but they also received the most financial aid. Undergraduates at private nonprofit 4-year institutions received the greatest amount of institutional grant aid while those at for-profit institutions had the largest proportion of borrowers; and (5) Low-income undergraduates enrolled full time at for-profit institutions had the highest average net price after grants as well as the highest average out-of-pocket net price when compared with low-income students enrolled at other institutions. The average net price after grants was $21,300 for low-income students at for-profit institutions but ranged from $7,800 to $17,900 at other institutions. Similarly, the average out-of-pocket net price was $11,700 among low-income students at for-profit institutions but the average for those enrolled elsewhere ranged from $6,000 to $9,800. (Contains 2 tables, 6 figures, and 21 footnotes.
National Center for Education Statistics. Available from: ED Pubs. P.O. Box 1398, Jessup, MD 20794-1398. Tel: 877-433-7827; Web site: http://nces.ed.gov/
Publication Type: Numerical/Quantitative Data; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education; Two Year Colleges
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: National Center for Education Statistics (ED); MPR Associates, Inc.
IES Funded: Yes