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Students from independent, non-profit colleges have low loan default rates

Students from Michigan's independent, non-profit colleges & universities have a lower loan default rate than the state average, national average, and national independent sector average.

In Michigan, students at independent, non-profit colleges and universities not only borrow less in student loans but also have a substantially lower default rate than students from other institutions in Michigan after graduation.

Student loan debt on the decline

Student loan debt is a concern for students, families, institutions, and the government. Luckily, Michigan's independent, non-profit colleges and universities have been working hard to ensure that their students have a low debt burden and strong re-payment capabilities.

Since the 2009-2010 academic year, undergraduate students at Michigan's independent, non-profit colleges & universities have taken less and less money each year to supplement their educational expenses. 

Earning a Bachelor's Degree Means More Job Security

Unemployment by educational attainment

Individuals with a Bachelor's Degree or higher are more likely to be employed than those with lower levels of educational attainment.

Data from the Bureau of Labor statistics shows that the 2016 unemployment rate for those with a Bachelor's Degree or higher was only 2.5 percent. Meanwhile, the unemployment rate for those without a Bachelor's degree was substantially higher in the same year.

Greater college access for women

Women awarded MTG

Independent colleges in Michigan are providing access to higher education for female students in need.

During the 2016-2017 academic year, nearly 60 percent of the need-based Michigan Tuition Grant awards were received by female students at Michigan's Independent colleges and universities.

This data matches the overall student body and those graduating from independent colleges & universities in Michigan. During 2016, 60 percent of bachelor's degrees awarded by independent colleges & universities in Michigan went to women. 

Independent colleges & universities provide greater access to lifelong learners and non-traditional students

degrees by age

Independent colleges in Michigan are providing greater access to non-traditional students and lifelong learners.

In 2016, 48 percent of the bachelor's degrees awarded by independent colleges & universities in Michigan were earned by students aged 25 and older. Fifteen percent of bachelor's degrees awarded by independent institutions were earned by students age 40 and older.

In comparison, 26 percent of bachelor's degrees awarded at public universities are earned by students aged 25 and older and just four percent are earned by students age 40 and older.

Advocacy Day 2017 Fact Sheet

fact sheet image

This document will be shared with Advocacy Day 2017 participants and the Michigan Legislature. It details facts about independent, non-profit higher education in Michigan.

Independent colleges put students first

student aid vs. salaries

In 2015 Michigan's independent, non-profit colleges and universities spent $984 million of institutional funds on scholarships, grants, and tuition discounts for students in need.  Salaries and benefits paid to employees at the same institutions totaled $869 million. The institutions invested greater than $100 million more in students.

Grants, scholarships, and tuition discounts help to ensure that students can complete a degree on time and leave college with little or no student debt.

More Michigan freshman choosing out-of-state schools, all of higher education in Michigan is losing out

MI students staying in MI for college

First-time college freshman from Michigan who choose to pursue a bachelor's degree have a variety of institutions in Michigan where they can pursue their higher education. In 2008, nearly 54,000 first-time college students attended one of the many institutions in the state, both public and independent. 

Over 120,000 bachelor's degrees awarded this decade

MICU member institutions have awarded 120,929 bachelor's degrees over the past decade (2007-2016). This represents 22 percent of the total bachelor's degrees awarded in Michigan between 2007 and 2016.
 

The annual number of bachelor's degrees awarded increased an average of ten percent between 2007 and 2016.

Independent colleges and universities increase student grants and scholarships 99% over ten-year period

MICU member institutions have increased the amount of student aid available through institutional grants over the past decade. Institutional grants and scholarships increased 99 percent, or 11 percent per year, between 2006 and 2015.

When accounting for inflation, institutional student aid still increased 63 percent across the ten-year period. 

While the costs of delivering quality higher education programming are increasing, independent institutions in Michigan are working to ensure that all students still have access and will graduate without excessive debt.
 

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