Keeping Texas Competitive - University of Texas System
Keeping Texas Competitive
As the economy becomes increasingly globalized and knowledge-based, the importance of high quality postsecondary education is on the rise. Quality programs at universities attract the brightest students, the best faculty, and the research and industry that drive the economy.
Undergraduate Headcount, Fall 2015
Academic Institutions in TX Higher Ed Systems
UT System 33%
UT System Impact: GAIs & HRIs
TTU System 7%
TSU System 13%
TAMU System 23%
UH System 11%
UNT System 7%
Other 6%
Competing successfully on a national and global level requires access to core revenue. And in an environment of declining general revenue per student, the fact is that tuition and fees are the single greatest component of core operating revenue (27.5%).
UT System | Maintaining Access and Competitiveness
Ensuring an Affordable Quality Education
UT System strives to balance the costs of the drive for excellence with the need to remain affordable.
Keeping Costs Down
UT System academic institutions are working to keep costs down. For most
25%
institutions, administrative costs declined as a portion of the operating budget between 2013 and 20% 2015. All of these institutions are at or below the state average of 10%. 15%
10%
Administrative Costs, FY 2013 and 2015 Compared to Average for TX Public Institutions
Max
10% Avg
5%
Min
0%
UTA
UT Austin
UTD
UTEP
UTPB
UTSA
UTT
Tuition & Financial Aid Tuition and fees--the portion of costs that colleges control--are only about 40 percent of the full cost of attending college.
Est Avg Annual % Change
12% 10%
8% 6% 4% 2% 0%
$0 -2%
Fall 2015 Tuition & Fees and Estimated Average Annual Change from Fall 2011
Other TX Publics UT Institutions
$1,000
$2,000
$3,000
$4,000
Fall 2015 Tuition & Fees
$5,000
$6,000
$7,000
UT System Regents have, for the past several years, held tuition to little or no increases, reflected in the fact that UT System academic institutions have some of the lowest average annual change in tuition and fees since fall 2011.
UT System | Maintaining Access and Competitiveness How are New Tuition Dollars Going to be Used?
Student Success Initiatives designed to improve access, retention, and time to degree. Initiatives include supplemental instruction; advising, tutoring, and mentoring; and student engagement programs
Faculty Support - Support current faculty, recruit new faculty, and improve competitiveness and research
Enhancing Student Services Improve the quality of life and the campus environment for students by improving access to medical and mental health care, establish sustainability initiatives, and enhance transportation and shuttle services
Infrastructure and Technology Support to keep pace with the costs of technology, improve and enhance wireless access, and further access to online and hybrid education
Tuition and fees at UT System institutions are at or well below that of our peers.
$14,000 $12,000 $10,000
$8,000 $6,000 $4,000 $2,000
$0
Published Undergraduate Average Tuition and Fees
UT Academic Institutions vs Peer Averages, AY 2015
UT Peer Average UT Academic Institutions Average
UTA
Austin
UTD
UTEP
UTPB
UTSA
UTT
Note about the peers
A set of institutions which are similar to each other in baseline characteristics such as size, student and faculty characteristics, academic programs, and research emphases. The UT System used nationally recognized best-practice statistical methodology to identify a baseline group of similar institutions for our academic universities. These baseline comparisons groups are used to benchmark performance nationally.
UT System | Maintaining Access and Competitiveness
Financial aid is critical to keeping our campuses affordable.
% Tuition & Fees Covered by Grant & Scholarship Aid, AY 2014
140%
120% 100%
100% of Tuition & Fees Covered
Additional $ for living expenses
80%
60%
40%
20%
0%
$0 - $40,000 $40,001 -
$60,001 -
$80,001+
All
$60,000
$80,000
Declining Default Rates at UT Institutions 2012 vs 2010 Cohorts
UTA UT Austin UTD 0
UTEP
UTPB
UTSA
UTT UT System
-1
-0.8
-2
-1.7
-1.9
-3
-1.2
-2.4
-2.3
Over 60 percent of UT System fulltime undergraduates receive grant, scholarship or tuition waiver aid. For families making less than $60,000, this aid covers 100% of tuition and fees AND provides some additional money to be used for other expenses such as room and board, transportation, etc. For families making above $80,000, this aid covers about two-thirds of the cost of tuition and fees.
Still, even with grants, scholarships and tuition waivers, well over half of UT System undergraduates borrow. However, on average, our graduates have borrowed less than both the national and state averages, with average loan payments of less than $200 per month. The debt-to-income ratio of UT graduates is, on average, 5.3% one year after graduation, well below the 9% threshold for moderately risky and even slightly below the 6% threshold that is considered cautious borrowing.
Default rates at UT academic institutions are declining. Conservative debt-to-income ratios for graduates help keep default rates for UT System academic institutions below state and national levels.
-4
-4.2 -5
-6
-5.5
UT System | Maintaining Access and Competitiveness Ensuring an Affordable Quality Education
UTEP has the lowest average net price among U.S. research universities
UTPB guarantees four years of free tuition and fees to Pell-eligible students whose family income is less than $60,000 a year
UTRGV budgeted $1.5 million for a money management and financial literacy initiative for at-risk students seeking loans
UTSA has reduced its net price to students over the last three years
UTT employs several programs specifically aimed at reducing time to degree, recognizing that time to degree is the single biggest factor in reducing the cost of higher education
Demonstrating a Return on Investment
A college graduate will earn 73% more--or $1 million more--over their lifetime than a high school graduate. For example, after one year of working in Texas, a UT graduate earned, on average, $44,000. And by the tenth year after graduation--often the point when a student loan has been paid off-- that graduate's earnings have increased to $60,000 per year. Compare that to high school graduates who earn, on average, $24,000 per year.
Median Earnings 1 and 10 Years After Graduation Baccalaureates graduating from UT Academic
Institutions working full time for a full year in Texas
$70,000
$60,000
$50,000
$40,000 Median U.S.
Income, 25 years $30,000 and over,
$31,318
$20,000
$10,000
Median U.S. Income, 25 years
and over, high school graduate,
$24,405
$0
1 yr
10 yrs
................
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