Percent of Family Income Needed to Pay for College - by Type of Institution and Quintile
Why is this important?
This is a measure of the ability to pay for college within each state. It is calculated for two- and four-year public institutions. The calculations are estimates of the amount of family income required by low-income, middle-income, and high- income families to attend college in each of the state's major sectors of postsecondary education.
What are the policy implications?
College affordability is based on institutional price, the adequacy of state effort to meet students' financial need, and students' personal or family income. The family ability-to-pay indicator examines the interaction of the variation in personal income that families of different means must pay to meet college costs, and the variations in price across the public two- and four-year sectors.
Other factors to consider:
State Grant Aid Targeted to Low-Income Families as a Percent of Federal Pell Grant Aid
Share of Income Poorest Families Need to Pay for Tuition at Lowest Priced Colleges
Average Loan Amount Students Borrow Each Year