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NCES
Report
For those of you interested in college costs, the newly released NCES
report might be interesting. For others, it might be surprising.
It's available at http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2006186
where you can download the full copy in pdf format.
The summary follows below.
"This report, based on data from the 2003-04 National Postsecondary
Student Aid Study (NPSAS:04), provides detailed information about undergraduate
tuition and total price of attendance at various types of institutions,
the percentage of students receiving various types of financial aid,
and the average amounts that they received.
In 2003-04, three-quarters of all full-time undergraduates received
some type of financial aid ($9,900 average). One-half took out student
loans ($6,200 average), and 62 percent received grants ($5,600 average).
Forty percent received both grants and loans (combined average $13,600).
The average tuition and fees for full-time undergraduates in 2003-04
were $2,000 at public 2-year, $5,400 at public 4-year, and $18,400 at
private not-for-profit 4-year institutions. About one-fourth of full-time
undergraduates did not pay any tuition, because the entire tuition amount
was covered by grants. Nearly one-half of full-time low-income dependent
undergraduates had their entire tuition amount covered by grant aid.
The total price of attendance (tuition plus room and board and other
expenses) for full-time undergraduates in 2003-04 was $10,500 at public
2-year, $15,200 at public 4-year, and $28,300 at private not-for-profit
4-year institutions.
After subtracting all financial aid (including loans), the average out-of-pocket
net price of attendance for full-time low-income dependent undergraduates
was $6,000 at public 2-year, $5,600 at public 4-year and $9,200 at private
nonprofit 4-year institutions. In addition, this report presents estimates
of the federal education tax benefits for students (Hope and Lifetime
Learning tax credits, and tuition
deductions): nearly one-half (49 percent) of all undergraduates or their
parents had their taxes reduced by an average of $600 by claiming these
benefits. Middle-income students were the most likely to receive these
tax benefits. Among the families of upper-middle-income students, more
than two-thirds (69 percent) received an average reduction in federal
taxes of $1,100."
Jon Boeckenstedt
Associate Vice President, Enrollment Management DePaul University Chicago,
IL 60604
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