Let's take another look at Graham's Myth vs. Fact Talking Point column. Here's Graham on the question of whether Penn State has become an elite school.
The actual number of students that get need based financial aid,a well defined quantity, not the nebulous financial assistance, is found in the Common Data Set for 2007-2008. The number of students that apply for need based financial aid and receive it is 17,029, the total number of undergraduate students at Penn State is 34,836, That means that 49% qualify and receive some need based financial aid.
Of those students receiving some financial aid, only 67% of their need is met on average and the average financial aid package for a Penn State undergraduate student is $9035. Only 1980 students had all of their needs met, that's 12%. And let's not forget that the average debt load of a Penn State graduate is $26,300.
How does Penn State stack up to Berkeley and Ohio State? Let's look at the numbers for the 2006-2007 academic year, most recent year for which numbers are available for those schools.
At Berkeley, 49% of the students qualified for and receive some need based financial aid. Of those students receiving need based financial aid, 89.1% of their needs are met. The average financial aid package was $15,710, while 60% of the students had all of their needs met. The average debt load of a Berkeley grad:$14,571.
Ohio State had 52% of their students qualify for and receive some need based financial aid. Of those students receiving need based financial, aid 66.8% of their need was met. The average financial aid package was $10,149, while 22% of the students in need of aid had their entire need met. The average debt load of an OSU grad:$18,130.
For the last academic year, Penn State had 49% of their students qualify for and receive some need based financial aid. The amount of the need met was, on average 70%. The average financial aid package was $15,529, while 12% had their need fully met. The average debt load at graduation:$23,500.
What do these numbers tell us about whether Penn State is becoming a school for the elite? The number to look at for an answer is the percentage of students in need of some financial aid. All three schools have roughly the same percentage. Does this mean that Penn State is no more or no less elite than the other two? The truth is there isn't enough information to answer this question, because we don't know how the need amount is distributed.
What is clear from these numbers is that attending Penn State place a financial strain on students and their families and it is getting worse. The average debt load has gone from $23,500 to $26, 300 in one year. Further, 2006-2007 debt load at Penn State was 62% higher than Berkeley's load and 30% than OSU's.
Again, any way you look at it Graham was intellectually dishonest when he tossed out that feel good 74% number.
[Ha-mace covered some the same ground earlier today.]
Technorati Tags: Penn State, Spanier, tuition, hype, spin, intellectual dishonesty
Myth: Penn State is becoming a school for the elite.Graham has to bundle together a whole lotta stuff to come up with his 74% figure for "financial assistance". A close reading reveals that for him financial assistance includes money from mommy and daddy, money earned in the summers, and any savings a student might put toward their education.
Fact: Penn State has among the highest percentages of students from low-income and middle-class families. About 74 percent of Penn State undergraduate students receive some form of financial assistance, consisting of grants, scholarships, loans,and work study, in addition to family support, summer earnings and savings. About 60 percent of our students have loans. Penn State seeks to put a financial aid package together for all needy students. This is why financial aid is the main focus of our fund-raising efforts.
The actual number of students that get need based financial aid,a well defined quantity, not the nebulous financial assistance, is found in the Common Data Set for 2007-2008. The number of students that apply for need based financial aid and receive it is 17,029, the total number of undergraduate students at Penn State is 34,836, That means that 49% qualify and receive some need based financial aid.
Of those students receiving some financial aid, only 67% of their need is met on average and the average financial aid package for a Penn State undergraduate student is $9035. Only 1980 students had all of their needs met, that's 12%. And let's not forget that the average debt load of a Penn State graduate is $26,300.
How does Penn State stack up to Berkeley and Ohio State? Let's look at the numbers for the 2006-2007 academic year, most recent year for which numbers are available for those schools.
At Berkeley, 49% of the students qualified for and receive some need based financial aid. Of those students receiving need based financial aid, 89.1% of their needs are met. The average financial aid package was $15,710, while 60% of the students had all of their needs met. The average debt load of a Berkeley grad:$14,571.
Ohio State had 52% of their students qualify for and receive some need based financial aid. Of those students receiving need based financial, aid 66.8% of their need was met. The average financial aid package was $10,149, while 22% of the students in need of aid had their entire need met. The average debt load of an OSU grad:$18,130.
For the last academic year, Penn State had 49% of their students qualify for and receive some need based financial aid. The amount of the need met was, on average 70%. The average financial aid package was $15,529, while 12% had their need fully met. The average debt load at graduation:$23,500.
What do these numbers tell us about whether Penn State is becoming a school for the elite? The number to look at for an answer is the percentage of students in need of some financial aid. All three schools have roughly the same percentage. Does this mean that Penn State is no more or no less elite than the other two? The truth is there isn't enough information to answer this question, because we don't know how the need amount is distributed.
What is clear from these numbers is that attending Penn State place a financial strain on students and their families and it is getting worse. The average debt load has gone from $23,500 to $26, 300 in one year. Further, 2006-2007 debt load at Penn State was 62% higher than Berkeley's load and 30% than OSU's.
Again, any way you look at it Graham was intellectually dishonest when he tossed out that feel good 74% number.
[Ha-mace covered some the same ground earlier today.]
Technorati Tags: Penn State, Spanier, tuition, hype, spin, intellectual dishonesty
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