The Kentucky Council on Postsecondary Education (CPE) this week approved campus tuition and fee rates for public colleges and universities for the upcoming 2022 school year. All of Kentucky’s postsecondary institutions stayed under the tuition caps adopted by CPE:
No more than 3.0 percent over two years, and a maximum increase of no more than 2.0 percent in any one year, for public research and comprehensive universities.
Kentucky is expected to receive an estimated $2.4 billion from the American Recovery Plan’s State Fiscal Recovery Fund. This large pot of money can be used for a broad set of purposes including infrastructure necessary for our future success – like broadband (for which the General Assembly already dedicated $250 million). Additional funds from the ARP will be distributed to cities and counties directly from the Local Fiscal Recovery Fund. Kentucky counties are estimated to receive $1.15 billion with Kentucky cities receiving $751.5 million.
The General Assembly completed the 2021 legislative session last night having spent the final two days considering vetoes by the Governor and negotiating a plan for the over $2 billion Kentucky is to receive in American Rescue Plan stimulus funds. The passage of House Bill 192, the revised state budget, was the key focus this session.
We asked current and prospective Kentucky college students to share how the COVID-19 pandemic has impacted their education plans and experiences. Questions were asked of high school seniors, currently and/or recently enrolled college students, and adults not currently enrolled in higher education. Nearly 1,000 responded in total.
The increases in CAP needs-based financial aid and to postsecondary institutions are a step forward on two of the seven items in the Prichard Committee’s Big Bold Ask. The budget did not strengthen Kentucky’s investment in the other priorities in that Ask: child care assistance, public preschool, fully-funded kindergarten, fully-funded school transportation, and teaching excellence.
Recent data shows Kentucky going the wrong way to ensuring student success in the early grades. From 2015 to 2019, the percentage of students scoring proficient or above in our KREP reading and math assessments by the end of third grade declined overall, as well as for most student groups – including black, Hispanic and low-income students.
According to the most recent Kentucky High School Feedback Reports produced by KY STATS, the statewide rate for public high school graduates in 2019 to complete the Free Application for Federal Student Aid (FAFSA) was 70%.
Ultimately, the test of affordability is in student success. If students do not complete their course of study, it is unlikely that that they will deem their experience as “affordable.” Assisting students financially is fundamental, but providing the supports necessary to succeed academically and reach the finish line is also critical. We highlight here a sampling of on-campus efforts (as well as at the Council on Postsecondary Education) that contribute to student success – and ultimately affordability.
What is Affordability?
Nothing like restating the obvious question! But we have to start with what students really have to pay. And this is where Kentucky might have a bright spot or two – in case you thought the trends in Part I of this blog were depressing.
When we focus only on rising tuition costs, it leaves out other important cost and resource considerations – namely room, board, and other living expenses, as well as resources students get from financial aid. When you combine all this together, you get to the clearer measure of real costs to students – Net Price – the amount left over to be covered by student resources (i.e. savings, student debt, work).
Why Affordability Matters
The COVID-19 pandemic has laid bare many inequities in our state and country, not least of which is the impact that one’s education level has on successfully weathering the crisis. Recent data reported by the Federal Reserve illustrates this profoundly – with dramatically higher unemployment rates for those with less education.