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ICI Smart: May 2014 - 2
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Independent Colleges Indiana

Families Increasingly Unable To Pay

Private Colleges
Help with Answer

Nearly 1 in 4 Hoosier collegians won’t get help from “Mom and Dad.” The number of Hoosier families with an Expected Family Contribution (EFC) of $0, those with no ability to help pay for college, has grown by 50 percent in less than a decade. Factors such as income, assets, and household size make up the EFC and are gathered from the FAFSA form, which Hoosier families must file to be considered for state and federal aid.
 
This spike came at the same time as the recession when maximum awards to individual students from the state fell by one-third. ICI members are helping students and families answer the challenge by providing added value in higher education:  more institutional aid from the colleges themselves, holding the line on tuition increases, and shorter time to degrees with faster career starts. 

National Average
ICI A
verage

Sources: National Postsecondary Student Aid Study, via “Postsecondary Education Opportunity”; Indiana Commission of Higher Education, Division of Student Financial Aid (SFA)

For Your Consideration

From Target to the NSA to Internet Explorer, big data and its breaches have been a staple of the news lately. This recent article by Richard Ekman, president of the Council of Independent Colleges, outlines why he believes a federal database of all college students is a bad idea:
  
http://chronicle.com/article/Trust-the-Education-Department/146463/.

Richard Ludwick

Message from ICI President & CEO Richard Ludwick

Independent Colleges of Indiana is sharing this informational update with you – as one of our stakeholders – to illustrate the performance and contributions of our 31 member colleges and universities and why they are the smart choice for students and for Indiana. We hope you find this information helpful in sharing that story with community leaders, colleagues, parents, students, and friends. If you have any questions or comments, please just let us know (contact information below).