New SREB college affordability profiles show progress
Affordability Gaps Persist For Lower-income Families
The South has seen mixed progress in college affordability, with some improvements in overall metrics but persistent challenges for lower-income students, according to data in the new Southern Regional Education Board College Affordability Profiles.
Recognizing that affordability is a critical factor in both access to and completion of postsecondary education, SREB publishes the reports to help policymakers evaluate and improve affordability in their states.
Find your state’s report:
As a whole, the 16-state region maintains higher state financial aid levels than U.S. averages. SREB examined data for the 2021-22 academic year, the most recent year for which student financial aid and net price data are available.
“SREB is committed to the idea that postsecondary opportunities, whether credentialing programs, two- or four-year colleges, must be affordable to all students,” SREB President Stephen L. Pruitt said. “Making education possible after high school for all students is critical to give them access to the workforce and ultimately contribute to our economy.”
SREB researcher MJ Kim said an encouraging trend in recent years is that many states in the SREB region have increased appropriations for two-year institutions, a notable step given that a large share of students are served by these institutions.
“Greater state appropriations in recent years have substantially improved affordability at two-year institutions in the SREB region, expanding access to postsecondary education,” Kim said. “This progress deserves attention and recognition, especially as states continue investing in pathways that make higher education more accessible, and workforce aligned.”
Here are some takeaways for the 16-state region from the report:
- Family Income Needed to Cover Net Price at Public Institutions. The SREB region shows consistent improvement across all institution types from 2017-18 to 2021-22, with 3 to 4 percentage point reductions in family income required.
- Income Required, Families Earning Less Than $30,000. The percentage of income required for median tuition and fees was higher at public four-year institutions than at public two-year and technical institutions in 2021-22 for families in the SREB region who earned less than $30,000.
- State Financial Aid Per Student. The SREB region provided approximately 25.8% more need-based aid than the national average in 2021-22 — a noteworthy achievement in supporting students with financial need.
College affordability is a key factor in students’ ability to access and complete postsecondary education. Data shows that by 2031, 64% of jobs in the SREB region will require a postsecondary credential. As of 2024, the postsecondary attainment rate in the SREB region is 51%, compared to the national average of 54%.
For more information, see SREB’s college affordability brief on the entire region and all 16 individual state affordability profiles.
Media are invited to contact SREB to arrange interviews with Pruitt and Kim about the findings in this year’s college affordability profiles.
Contact: Janita Poe, SREB News Manager, at Janita.Poe@sreb.org or 404-879-5516
The Southern Regional Education Board works with states, districts and schools to improve education at every level, from early childhood through doctoral education and the workforce. An interstate compact and a nonprofit, nonpartisan organization based in Atlanta, SREB was created in 1948 by Southern governors and legislatures to advance education and improve the social and economic life of the region.