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Meeting the Commonwealth’s Needs:Higher Education Policy Alignment
Senate Finance Committee: Higher Education January 30, 2018
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Why is higher education important?
Source: Georgetown Center on Education and Workforce
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Benefits to the Commonwealth
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Benefit to Individuals & Communities
79% more likely to volunteer
Individuals with an associate degree or higher are…..
30% more likely to vote in an election
38% more likely to have health benefits
…than individuals with a high school diplomaSource: It’s Not Just the Money, Lumina Foundation https://www.luminafoundation.org/resources/its-not-just-the-money
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Higher Education: A Piece of the Puzzle
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The Virginia Plan for Higher EducationPlacing the Commonwealth as the best-educated state by 2030
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33%
51%55%
WV
NE
MS
ALIDAR
TNOKINTXSCMO
MT
ME
NMM
IK
YO
HSDDE
PAAKUSHIRIW
YLAN
CO
RIOFLNE
GAWI
CAVT
UT
AZ
ND
NHNYKSILNJ
MD
VA
WACT
MNCO
MA
Percentage of population ages 25-64 with a workforce credential, certificate, associate degree or higher
National average
Source: Lumina Foundation http://strongernation.luminafoundation.org/report/2017/#nationNote: Certificate and credential data based on estimates developed by Georgetown Center on Education and Workforce
Virginia Compared to the Nation and Other StatesVirginia’s Educational Attainment Rate Ranks 6th in the Nation for
Working-aged Adults
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Source: American Community Survey, 2015 1-year Estimates, B15001.
Virginia Compared to the Nation and Other States
Note: Data do not include estimates for those with a workforce credential or certificate. These estimates are not available by age group.
57%
48%
30%
MA
MN NY NJ
CT
ND
NH IL CO IO VA NE
PA MD KS
WI
VT
WA TN SC ME
OR HI
UT
OH
MO RI MT
CA MI
NC FL DE
WY SD GA IN TX AK KY US ID AZ
MS
WV LA AL
OK
AR
NM NE
Virginia’s Ranks 11th in the Nation for its Younger Population
National average
Percentage of population ages 23-34 with an associate degree or above*
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Source: American Community Survey, 2015 1-year Estimates, B15001.
Virginia’s Educational Attainment by Age Group
Educational attainment rates vary by age.
35-44 year olds have the highest percentage of postsecondary degrees.
This could shift in the coming years as more individuals ages 25-34 earn a degree.
0%
20%
40%
60%
80%
25-34 35-44 44-64
Graduate or professional degree
Bachelor’s
Associate
Some college
Virginia’s Educational Attainment Rates by Age and Type
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The Virginia Plan: Measures and Targets
Measures and Targets Status
Targets for 2030Awards: Degrees and workforce credentials Progressing toward target
Success: Completion rates/gaps Progressing toward target
Affordability: Cost of attendance as a percentage of family contribution and state and federal grant aid Not progressing toward target
Research: Research expenditures Not progressing toward target
Annual CommitmentsPrice: Undergraduate net tuition and fees as a percentage of family income Below commitment
Economic Returns: Wages Below commitment
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Student Success: Close the Gaps
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Affordability and Price
…is higher than the national average .
11.0% 10.5%
Virginia Nation
13.1%10.3%
Low-income Middle-income
…is higher than the target of 10% for low-and middle-income families.
Target less than 10%
Tuition and fees at Virginia, 4-year, public institutions as a percentage of family income…
Source: SCHEV staff analysis.
Tuition and fees as a percentage of family income
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ResearchTarget: Increase Virginia’s research expenditures as a percent of national totals by 30 percent by 2030
Source: National Science Foundation report on expenditures on research as report by institutions for all funding sources (federal, state, private,) http://www.nsf.gov/statistics/herd/
20302013 2014 2015 2016 2030
Virginia research expenditures $1.42 billion $1.38 billion $1.41 billion $1.46 billion
% Share national expenditures 2.12% 2.06% 2.06% 2.04% 2.75%
Increase in % share (from baseline 2013) Baseline -3% -3% -4%
30%(Target)
Virginia’s share of national research expenditures has declined the last three years despite growth in total research dollars
+30%
-4% -3% -3%
Increase in Virginia’s Research Expenditures as a Percentage of National Totals
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• Open educational resources• Reduced time to degree• Evaluation of financial aid formula• Transfer agreements, dual enrollment• Student loan servicers• Financial literacy in high school• JLARC recommendations• Online Virginia Network• Long-range financial planning
SFC Retreat Options
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• Increase state funding for salaries, new buildings and student success
• Reduce costs through institutional efficiencies and lower increases in non-E&G fees
• Improve efficiency of transfer and dual enrollment • Support additional financial aid
Recommendations: Affordable Access
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• Improve quality in higher education through learning assessments and graduate outcomes
• Improve student protections through regulation of private-sector institutions
• Support institutional strategies to improve student access, retention and completion
• Raise awareness and provide transparency of information
Recommendations: Student Success
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• Support institutional reserve fund to provide stability and predictability in institutional planning
• Foster collaboration and innovation through competitive grants
• Reduce textbook costs to students• Authorize institutions to enroll more out-of-state students
once they have met in-state enrollment targets
Recommendations: Innovation & Investment
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• Support collaborative research, development and commercialization
• Identify key areas of research opportunity to position Virginia as an economic leader
• Drive partnerships with pre-K-12, institutions, economic development and business
• Align academic programs to meet workforce shortages in high-demand areas
Recommendations: Economic & Cultural Prosperity
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Additional Informationwww.schev.edu/vaplanreport Contact Information:
Peter Blake, Director of [email protected]
Wendy Kang, Director of Innovation and Interim Director of Finance [email protected]
