A new report ranks Tennessee in the bottom half nationally for college affordability. The state ranks 29th in the number of affordable institutions for the 2022-2023 school year. Of 18 colleges and universities sampled in Tennessee, only 33% were affordable, according to the report.
The National College Attainment Network (NCAN) examines the factors driving affordability gaps at public colleges and universities and offers guidance on how states can better address the financial needs of college students.
These gaps exist when an institution’s price is higher than the resources available to cover the costs of attendance, according to Louisa Woodhouse, NCAN’s senior associate for policy and advocacy.
Some students feel the brunt of these gaps more than others.
“It is low-income students and typically first-gen students – students who will be the first in their family to attend college – who are hurt the most by this,” she told WPLN News.
Still, Woodhouse stresses that students may still be able to attend the college of their choice if they have the right resources and support. An important step in getting these resources is completing the Free Application for Federal Student Aid (FAFSA).
She praised Tennessee for leading the nation in FAFSA completion, which she attributes to strong outreach from state agencies in supporting students.
“I think that it’s important to ensure that students who are still interested in receiving a bachelor’s degree have the support they need to maybe complete that associate‘s at a public two-year institution and then make that transfer successfully,” she said.
There is a substantial difference between two-year and four-year higher ed institutions. The affordability gap for community college students in Tennessee is $160, which is lower than the national affordability gap of $486. Tennessee students attending a four-year university are faced with a $3,256 gap compared to a national gap of $1,555.
The NCAN report looks at not only what colleges cost, but what families and students in Tennessee can afford – through available grants, loans, federal work study, summer earnings and expected family contribution. That support, according to Woodhouse, is best achieved through state investment in need-based grants. The report highlights the importance of this investment, noting that 41% of jobs in Tennessee are projected to require postsecondary education by 2031. Woodhouse also noted that Tennessee benefits from this investment because college-educated people can greatly contribute to economic development and mobility of their communities.
She’s concerned that proposed federal funding cuts may hinder some of those investments because states often take away from education – by reducing appropriations or raising tuition – when plugging holes in other areas.
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