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FAEOPP:Florida Higher Education At a Glance Florida college access network
About the Florida College Access Network • Our Mission: To create and strengthen a statewide network that catalyzes and supports communities to improve college and career readiness, access, and completion for all students. • Our Vision: At least 60% of working-age Floridians will hold a high-quality post-secondary degree or credential by the year 2025.
Florida CAN’s Guiding Values • College is postsecondary education • College readiness is career readiness • College is for everyone • College is a public good • Reaching Goal 2025 will require collective action
Why 60%...? • Recent reports on the economy and workforce requirements project future job openings will disproportionately favor those who have some form of postsecondary education or training. • Georgetown University’s Center on Education and the Workforce predicts by 2020, 65 percent of jobs in Florida will require a postsecondary education. • When did the “Era of Attainment Agenda” begin?
The economic benefits of postsecondary education and training for Floridians
Other economic and societal benefits of postsecondary education and training • Lower unemployment rates • Higher job satisfaction • Higher participation in pension plans • More likely to receive employer-provided health insurance • Lower poverty rates • Healthier lifestyles • More involvement in their children’s education • Higher levels of civic involvement, voting, and volunteerism
Higher education in Florida • High School Graduation Rates New K-12 standards, assessments and school accountability system • College-going rates • Earning Early College Credits • Graduation Rates • Other trends…
Florida Goals for Increasing High School Graduates Who Earn College Credit
The affordability gap in Florida • Families in Florida want their children to attend college… • 88% of survey respondents with children under 18 believe their child will go to college • …but aren’t sure if they can afford it • 31% of survey respondents agreed that college in Florida is affordable • 44% said they have no money saved for child’s college education University of Florida, Center for Public Issues Education (2013)
Why income is important… Over 58% of students enrolled in Florida public schools are eligible for free or reduced-price lunches… …but only about 30% of the state’s financial aid dollars are based on aid Changes to the Bright Futures scholarship raising SAT/ACT eligibility scores are projected to reduce almost $30 million in aid to over 18,000 12th graders in one year alone The Florida Board of Governors estimated 10,000 students in Florida received need-based aid who would not have otherwise applied for it when the FAFSA was required for Bright Futures, which was repealed last session During the 2011-12 academic year, our state processed 122,632 state aid applications, 30,000 more than FAFSAs
BRIGHT FUTURES!!! Test scores, economic changes, affordability, federal investigation!
Key Findings Graduates with an associate in science (A.S.) degree have median earnings that are more than $11,000 higher than graduates with bachelor’s degrees and almost $20,000 higher than graduates with A.A. degrees who are in the labor market. There is variation in the median earnings of graduates with bachelor’s degrees from less than $30,000 at Florida Agricultural and Mechanical (A&M) University to more than $36,000 at Florida International University.
Why income is important… Borrowing for higher education used to be rare… $1,000,000,000,000+ Floridians owe about $46.5 billion of this debt In Florida, 51% of students graduate with an average $23,054 of debt Amount received in student loans by full-time freshmen: $3,161 ($1,520 in 2007-08) 1 in 6 Florida borrowers defaults on their loans, 10th highest in the nation
Florida College Access Network’sCore Metrics • College and Career Readiness: Are they ready? • Students’ aspirations for college • Complete standard high school diploma • Meet college-ready benchmarks on college preparatory exams • Performance in accelerated curricula • College Access and Affordability: Can they pay for it? • Eligibility for state scholarships • College-going rates of high school graduates • Financial preparedness for postsecondary opportunities • University/college access rate
Florida College Access Network’sCore Metrics (cont.) • College Performance: How are they doing? • Early credit accumulation • College graduation rates • Adult Access and Completion: What about working adults? • Adults with some credit but no degree • Adult access to postsecondary opportunities • Workforce and Economic Outcomes: Does it pay off? • Median first-year earnings • Graduate placement • College Attainment: Are we making progress toward the Big Goal? • Adults with a postsecondary credential • Young adults with a postsecondary credential
Florida College Access & Success Summit Save the Date! October 16th, 2014 Tampa, FL
Thank you! Thank you! Helios Education University of South Foundation Florida Our work is possible thanks to the generous contributions of our funding partners