Goal 8: To help ensure access to high-quality postsecondary education by providing financial aid in the form of grants, loans, and work-study in an efficient, financially sound and customer-responsive manner. |
Objective 8.1 of 3: Ensure that low- and middle-income students will have the same access to postsecondary education that high-income students do. |
Indicator 8.1.1 of 4: Percentage of unmet need: The percentage of unmet need considering all sources of financial aid, especially for low-income students. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Targets and Performance Data | Assessment of Progress | Sources and Data Quality | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Source: Other Other: Record/File. Sponsor: National Postsecondary Student Aid Study. Data Available: January 2005 Validated By: No Formal Verification. Limitations: NPSAS data are collected only every four years. |
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Indicator 8.1.2 of 4: College enrollment rates: Postsecondary education enrollment rates for all students, and the enrollment gap between low- and high-income high school graduates. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Targets and Performance Data | Assessment of Progress | Sources and Data Quality | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Frequency: Annually. Collection Period: 2002 Data Available: April 2003 Validated By: On-Site Monitoring By ED. Limitations: Small subgroup sample sizes for low-income students lead to large yearly fluctuations in enrollment rates. Three-year weighted averages are used to smooth out these fluctuations. |
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Indicator 8.1.3 of 4: Targeting of Pell Grants: Pell Grant funds will continue to be targeted to those students with the greatest financial need: at least 75 percent of Pell Grant funds will go to students below 150 percent of poverty level. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Targets and Performance Data | Assessment of Progress | Sources and Data Quality | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Explanation: Increases in the maximum award without other changes in the formulas used to award Pell grants will tend to lower the percentage of funds going to the neediest students. |
Source: Other Other: Record/File. Sponsor: Pell Grant Applicant/Recipient File. Frequency: Annually. Collection Period: 2001 - 2002 Data Available: March 2003 Validated By: On-Site Monitoring By ED. |
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Indicator 8.1.4 of 4: Federal debt burden: The median Federal debt burden (yearly scheduled payments as a percentage of annual income) of borrowers in their first full year of prepayment will be less than 10 percent. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Explanation: As a general rule, it is believed that an educational debt burden of 10 percent or greater will negatively affect a borrower's ability to repay his or her student loan and to obtain other credit such as a home mortgage. We expect the 2001 and 2002 median debt burden rate to remain well below 10 percent. |
Additional Source Information: National Student Loan Data System (NSLDS) and Internal Revenue Service (IRS) records. Frequency: Annually. Collection Period: 2000 - 2001 Data Available: August 2003 Validated By: On-Site Monitoring By ED. Limitations: To overcome limitations with the data from the Social Security Administration (SSA) that were previously used, we switched to IRS data on household income for 1998 and future years. The IRS data may slightly understate debt burden for married borrowers where both individuals have student loans. |
Objective 8.2 of 3: Ensure that more students will persist in postsecondary education and attain degrees and certificates. |
Indicator 8.2.1 of 1: Completion rate: Completion rates for all full-time, degree-seeking students in 4-year and less-than-4-year programs; and the gap in completion rates between minority and non-minority students. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Additional Source Information: Graduation Rate Survey (GRS) Frequency: Annually. Collection Period: 2001 - 2002 Data Available: March 2006 Validated By: On-Site Monitoring By ED. Limitations: Postsecondary institutions are not required to report graduation rates until 2002. However, data were voluntarily submitted by institutions representing 87 percent of 4-year students and 77 percent of 2-year students. Investigating whether a proxy for graduation rates for student aid recipients can be obtained from administrative records. |
Objective 8.3 of 3: Ensure that taxpayers will have a positive return on investment in the federal student financial assistance programs. |
Indicator 8.3.1 of 1: Return on investment: The benefits of the student aid programs, in terms of increased tax revenues, will continue to exceed their costs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Explanation: The column titles are defined as follows. Low: A pessimistic set of assumptions leading to a low-end estimate of the return on investment. Best: The set of assumptions that we believe best captures the return on investment. High: An optimistic set of assumptions leading to a high-end estimate of the return on investment. The estimated return on investment is calculated in the following manner: 1) The discounted present value of tax revenue and welfare benefits is calculated for different educational attainment levels. 2) Under the "best" scenario, 90 percent of the revenue differential calculated in step 1 is assumed to be caused by obtaining more education. |
Source: Non-NCES Survey/Research Additional Source Information: March Current Population Survey (CPS) and Beginning Post Secondary (BPS) study with imputations from the National Postsecondary Student Aid Study (NPSAS) and High School and Beyond (HS&B). Behavioral assumptions were derived, where feasible, from meta-analyses conducted by Leslie and Brinkman in their 1988 book, The Economic Value of Higher Education. Frequency: Annually. Collection Period: 2002 - 2003 Data Available: March 2003 Validated By: On-Site Monitoring By ED. Limitations: A number of assumptions and imputations are required to estimate the return on investment. By providing high and low estimates, one can assess the sensitivity of the results to the assumptions used. Prior year data has been updated from previous reports to reflect more complete information. |