College is expensive — there’s no denying that. And if you’ve followed conversations about college affordability, you’ve probably heard a lot about how discouragingly high the cost of attending college can be. I don’t disagree, and the data we analyzed definitely backed that up. 

But here’s the thing: as I dug into the numbers, I didn’t just feel the usual frustration over rising costs — I actually felt a bit hopeful. Surprising, right? So, what stood out to me? 

One key finding: the percentage of family income needed to cover the net price at public institutions in the SREB region has actually decreased slightly from 2017-18 to 2021-22. It’s not a dramatic drop, but it signals a small shift toward more families being able to afford college in SREB states. In a landscape where college costs often seem to do nothing but rise, even small steps in the right direction are worth paying attention to.

There are several possible reasons for the decline in the percentage of family income needed to pay for college. Temporary financial relief from COVID-19, such as emergency aid and paused student loan payments, along with tuition freezes or caps in some states, may have contributed. However, our analysis points to two key factors: (1) the expansion of need-based financial aid and (2) increased state appropriations for two-year institutions.

Expansion of Need-Based Financial Aid 

The South may have developed a reputation for lacking need-based aid, but our analysis tells a different story. In 2021-22, southern states offered 25.8% more need-based aid than the national average. Even more impressive? Compared to 2017-18, the SREB region increased need-based aid by 25%, signaling a strong commitment to supporting low-income students.

	Need Only	Merit Only
SREB (2017-18)	$389	$476
U.S. (2017-18)	$411	$195
SREB (2021-22)	$488	$483
U.S. (2021-22)	$388	$185

Does this mean SREB states reduced merit-based aid? Not at all. In fact, the region provided 161% more merit-based aid than the national average in 2021-22. While need-based aid grew significantly, merit-based aid also increased — by 1.5% compared to 2017-18. 

So, what does this expansion of financial aid mean? The SREB region is working to balance affordability and academic excellence. By growing need-based aid while continuing to invest heavily in merit-based aid, our states are ensuring that both financially disadvantaged and high-achieving students receive the support they need to pursue postsecondary education.  

Increased State Appropriations for Two-Year Institutions 

Another major bright spot in our findings was the increase in state appropriations for public two-year institutions. In 2021-22, state appropriations per full-time equivalent student exceeded tuition and fees paid by students by 55.5%, demonstrating stronger state support.

Even more encouraging, state appropriations grew from $3,732 in 2019-20 to $4,863 in 2021-22 — a 30.3% increase. This suggests that states made a concerted effort to restore funding to two-year institutions following the financial disruptions of the pandemic. Meanwhile, tuition and fees increased by only 2.8% during the same period, potentially reflecting states’ efforts to keep college costs manageable for students.

Given that a large portion of our postsecondary students attend two-year institutions, this increase in state appropriations paired with the rise in need-based aid is an encouraging sign that our region is making strides toward affordability and accessibility.

A More Balanced Narrative on College Affordability

Am I saying we’ve solved the affordability crisis in higher education? Absolutely not. But I also don’t believe it’s helpful to let the conversation around college costs become so overwhelmingly negative that it discourages our students from even considering postsecondary education as an option. After all, by 2031, an estimated 64% of jobs in the SREB region will require some kind of postsecondary credential. Yet as of 2022, approximately 51.3% of working-age adults in the region had one. We still have a long way to go.

Progress in college affordability doesn’t happen overnight — it takes time. In fact, it might take much longer than we’d like. But as I analyzed the data, I saw signs that the strategic decisions made by our states are slowly but surely making a difference.

And that, despite the ongoing challenges, gives me hope.