U.S. Department of Education: Promoting Educational Excellence for all Americans

A r c h i v e d  I n f o r m a t i o n

HEA: Student Financial Assistance Policy - 2005

CFDA Numbers: 84.007 - Federal Supplemental Educational Opportunity Grants
84.032 - Federal Family Education Loans
84.033 - Federal Work-Study Program
84.037 - Perkins Loan Cancellations
84.038 - Federal Perkins Loan Program_Federal Capital Contributions
84.063 - Federal Pell Grant Program
84.069 - Leveraging Educational Assistance Partnership
84.268 - Federal Direct Student Loans


Program Goal: To help ensure access to high-quality postsecondary education by providing financial aid in the form of grants, loans, and work-study in an efficient, financially sound and customer-responsive manner.
Objective 8.1 of 2: Ensure that low- and middle-income students will have the same access to postsecondary education that high-income students do.
Indicator 8.1.1 of 3: Percentage of unmet need: The percentage of unmet need considering all sources of financial aid, especially for low-income students.
Targets and Performance Data Assessment of Progress Sources and Data Quality
Percentage of Unmet Need for Undergraduates
Year Actual Performance Performance Targets
1995
23
 
1996
23
 
1997
22
 
1998
21.20
 
1999
20.80
 
2000
21.20
 
2003
 
19.20
2004
 
19.20
2008
 
18.70

Percentage of Unmet Need for Low Income Undergraduates.
Year Actual Performance Performance Targets
 
Dependent Independent With Kids Independent Without Kids
Dependent Independent With Kids Independent Without Kids
1996
46.30 54.70 52.50
     
1997
44.50 51.60 49
     
1998
42.90 51.10 49
     
1999
41.80 50.20 48.50
     
2000
43.10 60.60 46.20
     
2003
     
41.10 58.60 44.20
2004
     
41.10 58.60 44.20
2008
     
40.10 57.60 43.20


Progress: In the past, data were estimated for years in between National Postsecondary Student Aid Studies (NPSAS), which are conducted approximately every four years. However, upon reconsideration of the estimation methodology, OPE decided in 2001 to discontinue these between survey estimates. Therefore, no data are anticipated for 2001, 2002, or 2003. Data for 2004 (school year 2003-2004) will be available in January 2005.

Explanation: Long-term goal for percentage of unmet need for undergraduates is 18.7 in 2008. Long-term goal for percentage of unmet need for low-income undergraduates is 40.1 for dependent, 57.6 for independent with children, and 43.2 for independent without children in 2008.   		Source: Other
Other: Record/File.
Sponsor: National Postsecondary Student Aid Study.
Date Sponsored: 01/31/2005.

Additional Source Information: Data collected every four years.

Frequency: Other.
Collection Period: 2003 - 2004
Data Available: January 2005
Validated By: No Formal Verification.

Limitations: NPSAS data are collected only every four years.

 
Indicator 8.1.2 of 3: College enrollment rates: Postsecondary education enrollment rates for all students, and the enrollment gap between low- and high-income high school graduates.
Targets and Performance Data Assessment of Progress Sources and Data Quality
The percentage of high school graduates aged 16-24 enrolling immediately in college - Total
Year Actual Performance Performance Targets
1995
61.90
 
1996
65
 
1997
67
 
1998
65.60
 
1999
62.90
 
2000
63.30
 
2001
61.70
 
2003
 
65
2004
 
67
2005
 
67

The percentage of high school graduates aged 16-24 enrolling immediately in college by income.
Year Actual Performance Performance Targets
 
Low High Difference
Low High Difference
1995
41.20 83.40 42.20
     
1996
41.50 78 36.50
     
1997
47.10 82 34.90
     
1998
50.60 77.30 26.70
     
1999
50.90 76 25.10
     
2000
48.50 77.10 26.60
     
2001
47.80 79.80 32
     
2003
     
50 80 30
2004
     
52 81 29
2005
     
52 81 29


Explanation: Data for both 2002 and 2003 (School years 2001-2002 and 2002-2003) are both anticipated by March 2005. The delay in receiving the data is due to the Census Bureau's reweighing of the data based upon information from the 2000 Decennial Census. Data are already collected for these years but are being analyzed.   		Frequency: Annually.
Collection Period: 2003 - 2004
Data Available: March 2006
Validated By: On-Site Monitoring By ED.

Limitations: Small subgroup sample sizes for low-income students lead to large yearly fluctuations in enrollment rates. Three-year weighted averages are used to smooth out these fluctuations.

 
Indicator 8.1.3 of 3: Targeting of Pell Grants: Pell Grant funds will continue to be targeted to those students with the greatest financial need: at least 75 percent of Pell Grant funds will go to students below 150 percent of poverty level.
Targets and Performance Data Assessment of Progress Sources and Data Quality
The percentage of Pell Grant funds going to students below 150 percent of the poverty line.
Year Actual Performance Performance Targets
1997
82
 
1998
80
 
1999
78
75
2000
78
75
2001
79
75
2002
78
75
2003
76
75
2004
 
75
2005
 
75


Explanation: Increases in the maximum award without other changes in the formulas used to award Pell grants will tend to lower the percentage of funds going to the neediest students.   		Source: Other
Other: Record/File.
Sponsor: Pell Grant Applicant/Recipient File..
Date Sponsored: 03/30/2004.

Frequency: Annually.
Collection Period: 2003 - 2004
Data Available: August 2005
Validated By: On-Site Monitoring By ED.

 

Objective 8.2 of 2: Ensure that more students will persist in postsecondary education and attain degrees and certificates.
Indicator 8.2.1 of 1: Completion rate: Completion rates for all full-time, degree-seeking students in four-year and less-than-four-year programs; and the gap in completion rates between minority and nonminority students.
Targets and Performance Data Assessment of Progress Sources and Data Quality
The percentage of full-time degree seeking students completing a four-year degree within 150 percent of the normal time required.
Year Actual Performance Performance Targets
 
Total Black White Hispanic Difference between Black and White Difference between White and Hispanic
Total
1997
52.50 35.50 55.50 39.10 20 16.40
           
1998
52.60 34.50 55.80 39.10 21.30 16.70
           
1999
53 35.80 56 40.90 20.20 15.10
           
2000
52.40 35.70 55.40 41.50 19.70 13.90
           
2002
54.40 38.20 57.20 44.80 19 12.40
           
2003
54.30 38.50 57.30 43.50 18.80 13.80
54          
2004
           
55          
2005
           
55          

The percentage of full-time degree seeking students completing a less than 4-year program within 150% of the normal time required.
Year Actual Performance Performance Targets
 
Total Black White Hispanic Difference Between Black and White Difference Between White and Hispanic
Total
1997
30.90 22.80 32.60 26.20 9.80 6.40
           
1998
32.20 25.10 33.80 29.90 8.70 3.90
           
1999
34.40 29.50 35.30 32.50 5.80 2.80
           
2000
32.70 26.50 34 30.10 7.50 3.90
           
2002
29.30 23.30 30.70 27 7.40 3.70
           
2003
30.60 26.10 31.70 30.10 5.60 1.60
34          
2004
           
35          
2005
           
35          


Explanation: 2002 and 2003 data have been received, and work is proceeding on the 2001 data. Analysis was not done in order of data received.   		Additional Source Information: Graduation Rate Survey (GRS)

Frequency: Annually.
Collection Period: 2003 - 2004
Data Available: March 2005
Validated By: On-Site Monitoring By ED.
Data are subject to both Census and NCES validation procedures.

Limitations: Prior to the implementation of the Graduation Rate Survye (GRS), data were voluntarily submitted by institutions representing 87 percent of four-year students and 77 percent of two-year students.

 

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