Highlights

Low Income Undergraduates

• Overall, 20 percent of all undergraduates enrolled in 199293 were low income (that is, their family income was below 125 percent of the federally established poverty threshold for their family size) (table 1). From 17 percent to 19 percent of all undergraduates at public and private, not-for-profit 4-year institutions and at public less-than-4-year institutions were low income. In contrast, 42 percent of all undergraduates at private, for-profit institutions were low income.
• Low income undergraduates were about as likely as other undergraduates to enroll in public 4-year institutions (29 percent and 31 percent, respectively) and private, not-for-profit 4-year institutions (13 percent and 15 percent, respectively) (table 3). However, low income undergraduates were much more likely than other undergraduates to enroll in private, for-profit institutions (16 percent versus 6 percent), and were somewhat less likely to attend public less-than-4-year institutions (39 percent versus 47 percent).
• In 198990, 76 percent of low income undergraduates reported that the fact that an institution offered the course of study they wanted was a very important consideration in their choice of institution (table 4). They cited this factor far more frequently than any other. However, financial factors were important as well. Forty-five percent of low income undergraduates reported that obtaining the financial aid they needed was a very important consideration (compared with 20 percent of other undergraduates).

Educational Costs and Financial Need

• The average budget for low income undergraduates who attended full time, full year ranged from $8,100 at public less-than-4-year institutions to $15,500 at private, not-for-profit 4-year institutions (table 7). The average expected family contribution (EFC) was $1,600.
• Ninety-nine percent of all low income undergraduates had financial need (table 7). The average need (budget minus EFC) was $9,400. Average need ranged from $7,000 at public less-than-4-year institutions to $13,600 at private, not-for-profit 4-year institutions.

Financial Aid

• In 199293, 88 percent of all low income undergraduates attending full time, full year received some type of financial aid (table 8). The average amount received was $5,800. Eighty-four percent received grants, 48 percent borrowed through student loan programs, and 15 percent participated in work-study programs. Eighty-three percent received some type of federal aid (table 9).
• On average, financial aid covered 42 percent of student-reported costs for low income undergraduates attending full time, full year; 65 percent of their aid was in the form of grants, and 26 percent was in the form of loans (table 12).

Net Cost and Unmet Need

• The average net cost (student-reported cost minus financial aid) for the low income full-time, full-year undergraduate and his or her family was $7,600 (table 13).
• Their average unmet need (institutionally determined budget minus financial aid minus EFC) was $4,900 (table 13).

Other Sources of Support

• Low income, financially dependent undergraduates attending full time, full year were less likely than their non low income counterparts to receive direct contributions from their parents (50 percent versus 78 percent) (tables 15 and 16). Low income dependent undergraduates who did get help from their parents received an average of $2,800, compared with $5,600 for non low income undergraduates.
• Among full-time, full-year low income undergraduates who worked while enrolled, the average was about 22 hours per week. Those who worked earned an average of $4,200 during the 199293 academic year (including summer 1992). Compared with their non low income counterparts, low income undergraduates attending full time, full year were less likely to work while enrolled (63 percent versus 77 percent) and were more likely to borrow (48 percent versus 30 percent) (tables 15 and 16).

[Table of Contents]

[Foreword]