Kentucky’s Independent Colleges and Universities The Association of Independent Kentucky Colleges and Universities

Gary S. Cox, Ph.DPresident

(502) 695-5007gary@mail.aikcu.org

http://aikcu.org

• 20 independent colleges and universities. All accredited by the Southern Association of Colleges and Schools (SACS). Meet the same rigorous quality standards as KY’s public colleges and universities.

• 30,000+ total students. 75% Kentucky residents.

• Diverse campuses, missions and student bodies. Provide critical choices and access to postsecondary opportunities. Locations from Pikeville to Mayfield and beyond via traditional campuses, extended sites, KCTCS and business partnerships, distance learning, and study abroad.

• Committed to Double the Numbers with sector-wide 2020 goals. Only independent college association in the country formally committed to statewide postsecondary plan.

• Regional and local stewards.

Kentucky’s 20 independent colleges and universities: The 10th component of Kentucky’s postsecondary education system

20 nonprofit, independent colleges and universities

Committed to affordability

• Average tuitions 1/3 less than national private college average and 1/4 less than Southern average. 2008-09 average tuition and fees = $17,256.

• Average annual tuition increases historically between 6-7%. (2009-10 tuition rates are still being announced, but average increase is under 5%.)

• Working aggressively to control costs through partnerships, greater efficiencies, and innovations.

• Serving high need students. 40% of undergraduates qualify for Pell Grants.

• Three-legged student financial aid partnership (State Aid + Federal Aid + Institutional/Private Aid) is working. Institutions are largest source of aid for students, at about $3 for every $1 provided by Kentucky.

• Timely graduation means quicker entry into workforce or graduate/professional school; fewer tuition payments and less foregone income.

• Relatively low average debt at graduation.

Collaborating for cost containment

• Several campuses participating in AIKCU Benefit Trust, self-funded health insurance program.

• AIKCU has developed nearly 30 active business partnerships to help hold down costs for campuses - in everything from technology to office products to recycling services to instructional resources.

Kentucky’s investment in AIKCU studentsis less than 4% of total state postsecondary spending

86.6%

9.4%

3.9%

AIKCU student aidAll other student aidOther postsecondary spending

Serve diverse students

• 30,000+ total students. 75% Kentucky residents. Students from all 120 KY counties, most states, 108 countries.

• 1 in 5 is an adult, or non-traditional student• Almost 9% are minorities (6.4% African-American)

- essentially the same as KY publics• 40% receive federal Pell grants• 31% receive CAP• 58% receive KTG• 51% receive KEES

ProgramMaximum

Award (08-09)

Eligibility Purpose Total AIKCU Awards

Total AIKCU Receipts

Average AIKCU Award

College Access Program (CAP) $1900

• Financial need; tied to Pell Grant eligibility

• At least half-time student

• Assist low income students 5,611 $9,221,125 $1,643

Kentucky Tuition Grant (KTG) $3000

• Financial need• Full-time independent

college student

• Assist low/moderate income students attending independent colleges

• Recognize cost-effective role independent colleges play in educating Kentucky students by providing up to 1/2 of per-student subsidy received by public institutions

10,540 $27,959,310 $2,653

Kentucky Educational Excellence Scholarship

(KEES)

$2500

• Graduate of KY HS or GED program

• HS GPA of 2.5 or better

• ACT score of 15 or better

• Reward academic achievement • Retain Kentuckyʼs best students 9,370 $15,109,502 $1,613

Kentucky’s investment in financial aid to AIKCU students, 2007-08

Source: KHEAA, 12-08

State financial aid to AIKCU students through Kentucky’s “big three” aid programs (CAP, KTG, and KEES) totaled $52.3 million in 2007-08, up from $11.9 million in 1997-98.

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008KTG CAP KEES

Source: KHEAA

State financial aid to independent college students, 1998-2008

AIKCU institutions are the largest source of aid for their students. Campuses provide about $3 in aid for every $1 provided by the state.

Institutional Aid

Federal Aid

State Aid

$0

$4,250

$8,500

$12,750

$17,000

AIKCU Public Universities

$16,963$16,663

Average Debt of Graduates, 2007

Source: ProjectOnStudentDebt.org. Debt data as reported by campuses to Peterson’s Undergraduate Financial Aid and Undergraduate Databases. 17 of 20 AIKCU campuses and 7 of 8 Kentucky public university campuses reporting data.

• 22% of Kentucky’s bachelor’s degrees.

• Campuses provide more than $1.1 billion in educational facilities.

• 100,000 alumni in Kentucky generate $4 billion in annual earnings and $416 million in state tax revenues.

• Combined total annual economic impact of more than $1.4 billion. Responsible for creating more than 12,000 jobs in Kentucky.

Return on Kentucky’s Investment

Independent colleges promote timely graduation

0

10

20

30

40

50

4 years 5 years 6 years

46.6

40.3

21.5

48.646.8

35.7

Percent of first-time, full-time students who graduate in...

AIKCU KY Public Universities

Source: IPEDS, Fall 2000 GRS Revised Cohort of first-time, full-time bachelor’s degree seeking students

0

7,500

15,000

22,500

30,000

1999 2000 2001 2002 2003 2004 2005 2006 2007

4,2964,0143,8203,5953,1572,7782,459

2,3912,22624,745

23,42623,08822,55622,37522,47422,30521,44520,980

AIKCU Total Headcount Fall Enrollment, 1999-2007

Source: CPE Comprehensive Database

Undergraduate Graduate/Professional

0

1,050

2,100

3,150

4,200

99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08

4,1913,8813,8013,9023,779

3,5553,5753,271

3,453

AIKCU Bachelor’s Degrees, 2000-2008

Source: CPE Comprehensive Database

AIKCU enrolls about 19% of KY’s bachelor’s degree seeking students and produces 22% of bachelor’s degrees.

Growth in transfer from KCTCS to AIKCU

0

275

550

825

1,100

99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08

1,093

938926

583514

402365351358

Source: CPE Comprehensive Database

Transfer to AIKCU institutions as percentage of total KCTCS transfers

0

7.5

15.0

22.5

30.0

99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08

25.6

20.920.9

13.913.3

10.610.110.39.4

Source: CPE Comprehensive Database