Archive for December 26th, 2012

December 26, 2012

Quick Links – more homeless young adults; reports on trends in college financial aid

by Grace

◊◊◊  Growing number of homeless young people is tied to high unemployment rate.

Across the country, tens of thousands of underemployed and jobless young people, many with college credits or work histories, are struggling to house themselves in the wake of the recession, which has left workers between the ages of 18 and 24 with the highest unemployment rate of all adults.

Exact numbers are hard to come by, but some cities have tried to measure the trend.

Boston also attempted counts in 2010 and 2011. The homeless young adult population seeking shelter grew 3 percentage points to 12 percent of the 6,000 homeless people served over that period.

In some cases, a reluctance to move in with parents seems to be the reason for living on the street.  One homeless shelter director describes this group as “high functioning but who’ve been unable to stay on their feet” and “not been able to launch themselves into a successful young adulthood”.

After Recession, More Young Adults Are Living on Street (The New York Times)

 Trends in Student Aid 2012 – College Board

Trends in Student Aid, an annual College Board publication since 1983, is a compendium of detailed, up-to-date information on the funding that is available to help students pay for college. This report documents grant aid from federal and state governments, colleges and universities, employers, and other private sources, as well as loans, tax benefits, and Federal Work-Study Assistance. It examines changes in funding levels over time, reports on the distribution of aid across students with different incomes and attending different types of institutions, and tracks the debt students incur as they pursue the educational opportunities that can increase their earnings, open doors to new experiences, and improve their ability to adapt to an ever-changing society.

Selected Highlights

  • In 2011-12, undergraduate students received an average of $13,218 per full-time equivalent (FTE) student in financial aid, including $6,932 in grant aid from all sources, and $5,056 in federal loans.
  • Federal grant aid almost tripled in constant dollars between 2001-02 and 2011-12, increasing from 20% to 26% of the total 185.1 billion in undergraduate aid.
  • Only 2% of students who first enrolled in 2003-04 had borrowed more than $50,000 from federal and nonfederal sources combined by 2009. Over 40% did not borrow and another 25% borrowed $10,000 or less.

 Merit Aid for Undergraduates: Trends from 1995–96 to 2007–08 (National Center for Education Statistics)

This Statistics in Brief uses nationally representative data from 1995–96, 1999–2000, 2003–04 and 2007–08 to examine trends in merit aid to undergraduates by student and institutional characteristics and in comparison to need-based grant aid.

%d bloggers like this: