Authors: David Tandberg, Sophia Laderman and Andy Carlson
Source: State Higher Education Executive Officers Association
A Federal-State Partnership for True College Affordability, a recent report by the State Higher Education Executive Officers Association (SHEEO) with support from the Lumina Foundation, estimates the cost of college affordability for traditional and non-traditional students.
The authors write that “true college affordability for all students would cost an additional $34 billion per year in state and federal support for higher education.” Under SHEEO’s affordability model, students would devote no more than 10 percent of their discretionary income toward loan repayment.
The report includes a comparison to Lumina Foundation’s Rule of 10, a deeper dive into affordability for part-time and adult students,as well as what it will take for states to meet the affordability threshold.
To learn read the full report, see SHEEO’s website.