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State Update

Jessica Piper Office of the State Board of Education October 8, 2013. State Update. State Update. Historical Context Progress Towards Goal Initiatives Scholarship Updates. 60% of Idahoans ages 25-34 will have a degree or certificate by 2020. The Challenge.

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State Update

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  1. Jessica Piper Office of the State Board of Education October 8, 2013 State Update

  2. State Update • Historical Context • Progress Towards Goal • Initiatives • Scholarship Updates

  3. 60% of Idahoans ages 25-34 will have a degree or certificate by 2020

  4. The Challenge The United States is losing its status as the world leader in the educational attainment of its citizenry

  5. The Challenge Rank 23rd in high school completion The College Commission on Access, Admissions, and Success in Higher Education

  6. The Challenge Rank 10th in postsecondary completion

  7. The Challenge 40% of 25-to 34-year-olds had degree The College Commission on Access, Admissions, and Success in Higher Education

  8. The Challenge Highest college dropout rate The College Commission on Access, Admissions, and Success in Higher Education

  9. The Challenge Declining college completion rate The College Commission on Access, Admissions, and Success in Higher Education

  10. The Challenge 40% drops to 29% by 2025 The College Commission on Access, Admissions, and Success in Higher Education

  11. The Challenge First to Last

  12. 2009-2013 to 10th 16th

  13. Trend is Arrested College Completion – 14th High SchoolCompletion – 5th

  14. 25 to 34 year olds with an Associate’s Degree or Higher U.S. Average = 40.1% 35.0% Data Source: US Census Bureau, 2011 American Community Survey

  15. Data Source: US Census Bureau, 2011 American Community Survey; OSBE Institutional Data

  16. 150% of time

  17. Public Perception

  18. Necessary? Students Can Attend Students Can Attend Attainable?

  19. The ObstaclesCompletion Rates by Income College Graduates by Age 26 Young People from High Income Families 60% Young People from Low Income Families 7% Source: Tom Mortenson, Research Seminar on Public Policy Analysis of Opportunity for Post Secondary, 1997

  20. Familieswith School Aged Children

  21. Idaho Need-Based Aid Source: National Association of State Student Grant and Aid Programs. National Center for Education Statistics (NCES), IPEDS Fall Enrollment Survey. WICHE calculations

  22. Personal Income Some College – 18.6% higher Associate degree – 32.5% higher Bachelor degree – 73.9% higher

  23. Personal Income

  24. Economic Impact

  25. Economic Impact

  26. Education and Training Pay

  27. State Update • Historical Context • Progress Towards Goal • Initiatives • Scholarship Updates

  28. Taking Action Progress towards goal

  29. CACG

  30. FAFSA

  31. College Information Website Questions-based web search engine for Idaho colleges and universities

  32. College Application WeekNovember 11-15, 2013 • 15 low-income schools • FAFSA PIN

  33. State Scholarships and other sources of financial assistance

  34. State-Funded Scholarships • Idaho Promise A • Idaho Promise B • Minority/”At-Risk” • Work Study • Opportunity • Freedom • Public Safety Officer

  35. State-Funded Scholarships • Opportunity • Work Study • Armed Forces & Public Safety Officer • Idaho Governor’s Cup • GEAR UP – Idaho • Tschudy Family Scholarship

  36. Opportunity Scholarship 2014 • Idaho Resident • Idaho high school grad • Full-time status • ACT 20 (SAT 950) • GPA 3.0 • Amount to be determined yearly

  37. Opportunity Scholarship 2014 • Online Application • Opens: Dec 1 • Closes: March 1 • Streamlined process • Offer • Acceptance New and Renewal applications

  38. IDeal • Ideal- Idaho’s State Sponsored 529 college savings plan Purpose: • To help individuals and families save for college in a tax-advantaged way.

  39. What IDeal Provides • Tax-deferred growth • Generous contribution limits • Attractive investment options • Flexibility and features • Unique estate planning benefits • Gifting and rewards options 1 Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements. 2 You will be required to include the entire amount of a non-qualified distribution in your Idaho taxable income. You will be required to include the amount of a transfer to another state’s 529 plan in your Idaho taxable income up to the amount of your total contributions to your IDeal account in the twelve (12) months preceding the date of the rollover. 3 In the event you do not survive the 5-year period, a pro-rated amount will revert back to your taxable estate.

  40. We’re Here to Help! idsaves.org

  41. Contact Me Jessica Piper Scholarships Program Manager jessica.piper@osbe.idaho.gov 208-332-1596

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