What Does Hope Scholarship Pay For
What Does Hope Scholarship Pay For – Completion of a graduate program is more important than ever to a student’s future well-being and the state’s economic development. But rising costs combined with declining access to Georgia’s financial aid programs put higher education out of reach for too many students, especially those from poor families. Tuition has skyrocketed in recent years, driven in part by deep cuts in state funding. Meanwhile, stagnant wages are creating problems for many students and their families. Between fall 2014 and fall 2015 alone, nearly 13,000 students dropped out of the university system because they were unable to pay tuition and fees.
HOPE Scholarships and HOPE Grants constitute Georgia’s primary strategy for providing financial assistance to students in post-secondary education programs. Thousands of Georgia students have benefited from these programs since their inception in 1993, and many families continue to benefit today. But despite this success story, there are troubling shortcomings. This first analysis of data from Georgia’s university and technical college systems shows:
What Does Hope Scholarship Pay For
Less than half of the state’s students benefit from Georgia’s major aid programs, HOPE and Zell Miller scholarships. Although both scholarships benefit many, they only cover about 36 percent of students in the university system and 8 percent of students in graduate programs in the technical college system. Reasons for failure include poverty, which creates barriers to academic success beginning in childhood. Age restrictions also prevent non-traditional students from entering the program.
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Merit-based scholarships are disproportionately unavailable to students of ordinary means. Only 30 percent of low-income students in the university system receive a HOPE or Zell Miller scholarship, compared to 42 percent of middle- and high-income students. As a result, low-income students are underrepresented among scholarship recipients in the university system. Low-income students make up 43 percent of HOPE Scholars and only 21 percent of Zell Miller Scholars, while they make up 48 percent of the student enrollment.
Students from historically marginalized groups are underrepresented among scholarship recipients. Across the university system, only 20 percent of black students and 36 percent of Hispanic students receive a HOPE or Zell Miller scholarship, compared to 46 percent of Asian Americans and 45 percent of white students. White students make up 64 percent of HOPE Scholars and 78 percent of Zell Miller Scholars, while making up only 54 percent of enrolled students.
Georgia’s main aid program for technical college students, the HOPE grant, does great work providing access to low-income students, including minorities. However, coverage is not universal and the program does not meet the full financial needs of students. HOPE grants reach approximately 74 percent of technical college students in certificate and diploma programs, including 85 percent of low-income students. Most students with certificates and diplomas of any race or ethnicity receive a HOPE grant. About 75 percent of white students receive grants, 73 percent of black students, 70 percent of Hispanic students, and 54 percent of Asian students.
The limited reach of Georgia’s financial aid portfolio is insufficient to meet workforce development goals in today’s rapidly changing and highly competitive global economy. In a rapidly diversifying country struggling with widespread poverty, students need more opportunities to gain valuable skills and launch successful careers, regardless of their family background or bank account.
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Georgia can build on the success of the HOPE Scholarship and HOPE Grant by finding ways to help more students from low-income families attend college and enter the workforce with valuable skills and knowledge. Prospective policy options include restoring the original full HOPE Grant tuition coverage for technical colleges, eliminating the arbitrary age limit for merit-based scholarships, and establishing a new need-based financial aid program for all Georgia students. Regardless of the exact path taken, Georgia needs a broader approach to financial assistance to improve the financial security of families and the state’s ability to create a workforce that attracts and develops high-paying, high-paying industries.
To better understand students’ financial needs, the Georgia Budget and Policy Institute studied the participation rate of HOPE scholarships, including the Zell Miller Scholarship. We also looked at HOPE grant recipients. We reviewed scholarship and grant recipient information provided by the University System of Georgia and the Technical College System of Georgia, as well as other University System information.
We requested information on HOPE and Zell Miller scholarship recipients and non-recipients from the University System of Georgia. The system in 2013 provides non-personally identifiable information about all undergraduate students in the fall. out-of-state students were excluded from the analysis, as were in-state students enrolled as undergraduate, graduate, or dual-degree students. Information on HOPE and Zell Miller scholarship recipients, HOPE and Zell Miller grant recipients, and Strategic Workforce Development grant recipients from the technical college system was also requested. The Technical College System provided fall 2013 data. Out-of-state residents are not excluded due to data limitations, but make up less than 2 percent of all students in the system. Findings are based on this data unless otherwise noted.
Policy solutions that allow more students to reap the financial benefits of a college degree will help build the skilled workforce Georgia needs to attract competitive industries and economic growth. It helps make college more affordable for Georgia families and responds to current demographic changes.
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People with secondary education are more likely than those without higher education. Nationally, the average weekly earnings of someone with an associate’s degree was about 18 percent higher than someone with a high school diploma in 2015. . Graduate degrees also limit the effects of economic downturns. Although earnings fell for most undergraduates and graduate students during the Great Recession, the decline was smaller than for those without a degree.
The unemployment rate is lower for those with a degree. The national unemployment rate for those with a high school diploma was 5.4 percent in 2015. It is 3.8 percent for those with a degree, 2.8 percent for those with a bachelor’s degree, and 2.4 percent for those with a master’s degree. Even during the Great Recession, the unemployment rate for those with a bachelor’s degree was much lower than for those with only a high school diploma.
By 2020, 32 percent of all jobs in Georgia will require a bachelor’s degree or higher. 5 60 percent of all jobs require a graduate degree, from certificates to university degrees. 6 The state is currently short of people. education was needed to fill all these jobs. Georgian authorities have set a goal to increase the number of high school graduates to 250,000 by 2025. Through the Georgia College Comprehensive Initiative, the university systems and technical colleges have designed and implemented strategies to achieve this goal, including strengthening recovery, improving student advising. and granting course credit for experiential learning.
But rising costs are hindering progress toward Georgia’s Complete College goal. In the fall of 2014, 6,500 students were expelled from the university system for failure to pay tuition and fees.7 University presidents helped retain nearly 3,000 more students by raising funds to provide them with institutional need-based scholarships. In the fall of 2015, another 6,500 students dropped out because they couldn’t pay for classes.8 The money collected by individual institutions, which varies widely in size, is significant but does not cover the range of students’ financial needs. . throughout the system.
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Total enrollment in the state’s technical colleges has declined every year since 2010. Now it is less than in 2008. An improved economy with more job opportunities is a likely factor, but so is the decrease in the cost of HOPE grants and scholarships.
Tuition and fees have risen steadily across the country and in Georgia over the years, in part due to drastic cuts in state funding. Since 1990, state funding for each student in Georgia has declined by 26 percent, adjusted for inflation.9 At the same time, family incomes have barely increased. 25 percent in the 1990s.11 Paying for college is now a struggle for many students and their families, especially those with low incomes.
Higher education costs that hit poor families hardest Average tuition and fees at four-year public institutions as a percentage of family income
Source: South District Education Department. (2015) Table 64: Percent of average family income required for average annual tuition and fees, higher education documents. Atlanta, GA. Accessed on March 11, 2016
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The burden becomes even greater when the full cost of attendance, including room and board, books, transportation, and other related expenses, is considered. Here is the average cost of attendance for the 2013-2014 school year at the four types of schools in the system:
Students at technical colleges across the state faced similar challenges. In 2013-2014, the total cost for students at public technical colleges ranged from about $5,000 to $11,000, depending on the institution. They
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