Pell grant recipients
2014-15: $22.4 million and 5,514 students (year to date--will increase)
2013-14: $23.0 million and 5,783 students
2012-13: $21.7 million and 5,648 students
2011-12: $23.2 million and 5,973 students
2010-11: $22.8 million and 5,953 students
Source: Rob Wirt, associate director of scholarships and outreach
Universities will now be rated on who is offering the best value, beginning at the start of the 2015-16 school year.
While the rating system has not been fully developed yet, it will include categories like access, affordability and outcomes, according to the U.S. Department of Education.
The DoE released this framework of the rating in December 2014. President Obama first announced the plan in August 2013, to help students who are trying to decide where to go to school compare colleges.
In a press release, Education Secretary Arne Duncan said as a nation, it is a responsibility to make college more accessible and affordable to make sure every student graduates with a valuable education.
"Our students deserve to know, before they enroll, that the schools they've chosen will deliver this value," Duncan said. "With the guidance of thousands of wise voices, we can develop a useful ratings system that will help more Americans realize the dream of a degree that unleashes their potential and opens doors to a better life.
This rating system could help students who have a hard time paying for college by encouraging states to help pay for public colleges based on performance in the classroom, according to the DoE.
Of dependent undergraduates at Ball State who filed a FAFSA, 17 percent have an adjusted gross income range from less then $30,000, according to the Office of Financial Aid.
Of the independent undergraduates who filed a FAFSA, 78 percent have an AGI of less than $30,000.
Since the system looks at financial aspects of colleges, their rating will tie in with the amount of financial aid they give, which could lead to an increase in the financial aid given to students.
It will also ensure that the student receiving the financial aid makes progress toward their degree, according to the DoE.
Access:
The access category includes the percentage of students who have received the Pell grant and the number of first generation college students the institution has.
Ball State has awarded $22.4 million to more than 5,500 students during this school year to date, according to the Office of Financial Aid.
Last school year, the university gave $23 million to more than 5,700 students, and in the 2010-11 school year, they gave $22.8 million to almost 6,000 students.
To help students pay for college, and make it feasible to attend if their families didn’t before them, Ball State has over 500 scholarships for incoming students to earn.
For upper level students, Rob Wirt, the associate director of scholarships and outreach said the university offers “literally hundreds of scholarships through the university foundation, alumni office, admissions office, athletics and various departments and organizations.”
Affordability:
Much of the rating system looks to help lower income students afford the high prices of college.
This category looks at the net price of the university and loan debt.
Tuition has been increasing two percent for the past two years, according to Bernie Hannon, associate vice president of business affairs.
“We’ve tried to be very careful about pushing the cost off on students and families. We’re trying to have some fair sharing of the burden,” Hannon said earlier this school year.
Ball State's tuition for the 2014-15 school year is $8,682 per year for in-state tuition, according to bsu.edu.
The in-state tuition at Purdue University is about $10,002 per year, and $10,388 at Indiana University Bloomington, according to purdue.edu and indiana.edu.
Outcomes:
The outcome category looks at the graduation and transfer rates of the university, as well as graduate earnings and the completion of advanced degrees.
Ball State’s six-year graduation rate from fall 2006 to July 2012 was 56 percent, and the four-year graduation rate from fall 2008 to July 2012 was 36 percent, according to bsu.edu.
Purdue University's four-year graduation rate for the 2008 cohort was 45.7 percent, and six-year was 73.8 percent, according to purdue.edu.
For Indiana University, their four-year rate for all campuses for the 2007 cohort combined was 36.2 percent and their six-year was 58.9 percent, according to iu.edu.
The freshman retention rate this year was 81.7 percent, a record high, Kay Bales, vice president for student affairs, said.
In the 2011-12 school year, Ball State gave out 272 associate degrees, 3,861 bachelor’s degrees, 1,940 master’s degrees and 91 doctoral degrees, according to bsu.edu.
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