Indicator 36: Affordability of Higher Education

Why This Is Important

How affordable is higher education for Maine’s youth and families? If higher education is
not affordable for most students and families, then there is a negative impact on Maine’s
future both socially and economically. In the affordability category, the nation as a whole is
“measuring down.” That is higher education has become less rather than more affordable
when the costs of attending college are considered in relation to family income.

 

 

 

Where We Stand

Compared with top-performing states, families in Maine devote a very large share of family
income, even after financial aid, to attend public and private four-year colleges and universities,
which enroll over 80% of college students in the state (55% in public four-year schools, and
26% in private ones). The state’s investment in need-based financial aid is very low when
compared with top-performing states, and Maine offers few low-priced college opportunities.
Over the past decade, the share of income needed to pay for college expenses after financial
aid at public four-year institutions has increased from 29% to 34%.

Data Sources and Context

Data is taken from the National Center for Public Policy and Higher Education Measuring
Up 2004. This source consists of a national report card for higher education and fifty state
report cards. Its purpose is to provide the public and policymakers with information to assess
and improve post-secondary education in each state. Measuring Up 2004 is the third in a
series of biennial report cards. In this report card, "higher education" refers to all education
and training beyond high school, including all public and private, two- and four-year, for-profit
and nonprofit institutions. For more information, see the website at: http://measuringup.highereducation.org/about.cfm . The Measuring Up Report for 2006
will be updated in Fall 2006.