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Accession Number PB2013-105212
Title Making College More Affordable: Implications of New Data.
Publication Date Oct 2011
Media Count 7p
Personal Author N/A
Abstract The economic strength and competitiveness of our nation depend on the quality of our workforce. Nearly two-thirds of the job openings forecast to be created by 2018 will require education beyond a high school diploma (Carnevale, Smith and Strohl, 2010). Further, individuals with advanced education benefit from higher wages, greater job security, and higher lifetime earnings. The United States, however, is lagging behind other countries in college graduation rates. In just a generation, we have fallen from 1st in the world to 16th in the fraction of young people who have earned a college degree (OECD 2011, p. 30). In recent years, published college tuitions have risen sharply. Rising college costs are a threat to our nation's ability to equip our workers with the advanced skills that the high-paying jobs of the future will require. In response to the growing need for college-educated workers in an era of rising tuitions, the Obama Administration has made college accessibility and affordability a top priority. New data show that the Administration's efforts to hold down college costs have been successful. Despite large increases in the published price of college over the past four years, the average student has not seen commensurate increases in the net price of college, defined as the published price minus grants, scholarships and tax benefits. This is due primarily to increases in Federal aid. According to data from the College Board that were released today, the estimated average net price for full-time students attending public 4-year institutions increased by only about $60 between 2007-08 and 2011-12, and the estimated average net price for full-time students attending public 2-year and private nonprofit 4-year institutions actually fell.
Keywords Accessibility
Economic development
Educational institutions
Financial aid
Job skills
Labor force

Source Agency Council of Economic Advisors
NTIS Subject Category 92D - Education, Law, & Humanities
92A - Job Training & Career Development
70D - Personnel Management, Labor Relations & Manpower Studies
Corporate Author Executive Office of the President, Washington, DC. Council of Economic Advisors.
Document Type Technical report
Title Note N/A
NTIS Issue Number 1311
Contract Number N/A

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