Vermont - SHEF
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State Profile:

Higher education is the  largest general fund budget category in . 1 1National Association of State Budget Officers. (2020). State expenditure report: Fiscal years 2018-2020. NASBO. https://www.nasbo.org/reports-data/state-expenditure-report VIEW ALL FOOTNOTES  State and local government funding for higher education totaled  in fiscal year . In addition, public institutions in received  in tuition revenue. These two revenue sources serve  total FTE students at public institutions.

State and Local Funding

State tax appropriations and local tax support plus additional non-tax funds that support all of higher education.

Total Tuition Revenue

Gross tuition plus mandatory “education and general” fees from public institutions, including all student financial aid.

Total FTE Enrollment

Gross full-time equivalent (FTE) enrollment calculated from the aggregate number of enrolled credit hours.


Enrollment

How has Student Enrollment Changed Over Time?

has the net FTE enrollment i i Net full-time equivalent (FTE) enrollment Full-time equivalent (FTE) enrollment converts student credit hours to full-time academic year students. FTE excludes medical students. VIEW ALL DATA DEFINITIONS in the United States. In recent years, enrollment has remained relatively stable both nationally and in most states. In the last year, net full-time equivalent (FTE) enrollment, which excludes medical students,  in . Changes in enrollment are often counter-cyclical to economic downturns. In , net FTE enrollment  from 2008 through 2012 due to the Great Recession and has since  as the economy recovered. Students attending twoyear institutions make up  of ’s FTE enrollment, which is  the U.S. average of .


State and Local Funding

Where Does Funding Come From?

State and local funding for higher education comes from multiple sources. In most states, state tax appropriations are the largest source of funding. i i State tax appropriations Appropriations from state government taxes for public and private higher education institution and agency annual operating expenses, excluding capital outlay (for new construction or debt retirement) and revenue from auxiliary enterprises. VIEW ALL DATA DEFINITIONS In 31 states, local appropriations also fund higher education. i i Local appropriations The sum of all tax appropriations from any government entity below the state level to public institutions for operating expenses. Excludes any grants from local nonprofit organizations such as chambers of commerce, charitable foundations, and other entities. VIEW ALL DATA DEFINITIONS i i Institutional Sector SHEF follows the Carnegie Basic Classification. Institutions classified as Baccalaureate/Associate’s Colleges, Technical Colleges, and degree-granting “less-than-two-year” institutions should be included in the two-year sector. VIEW ALL DATA DEFINITIONS

Note: Percentages may add up to more than 100 due to funds that were returned to the state or spread over other years.

How is the Funding Used?

In almost every state, the primary use of state and local funds for higher education is for general operations at public institutions. i i General operating The portion of state and local support appropriated directly to public institutions for the purposes of general operations. VIEW ALL DATA DEFINITIONS allocates  of all funding for this purpose. funds for research, agriculture, and medical (RAM) purposes, which is .

How Does Funding Differ by Sector?

The sources and uses of state and local funding differ for twoyear and fouryear institutions. i i Institutional Sector SHEF follows the Carnegie Basic Classification. Institutions classified as Baccalaureate/Associate’s Colleges, Technical Colleges, and degree-granting “less-than-two-year” institutions should be included in the two-year sector. VIEW ALL DATA DEFINITIONS Nationally, twoyear institutions are primarily funded through state operating and local funding, with a smaller proportion of state financial aid. On the other hand, fouryear institutions primarily receive state operating and research, agriculture, and medical (RAM) funding, with slightly more financial aid and limited local appropriations. i i Sector-level state and local support Sector-level state and local support is the sum of state and local operating appropriations, state financial aid, and state research, agricultural, or medical appropriations at public two- and four-year institutions. Sector-level state and local support does not include federal stimulus or state agency funding. VIEW ALL DATA DEFINITIONS

Per-Student Education Appropriations Over Time

Higher education often faces the largest cuts of any budget category during economic recessions. As a result, state funding has changed over time. In most states, funding in  remained below historic levels. VIEW ALL FOOTNOTES Education appropriations per FTE (a measure of state and local support for public higher education, excluding RAM) in have  since . i i Education appropriations Education appropriations measure state and local support available for public higher education operating expenses and exclude research, hospitals, and medical education. State-level education appropriations include federal stimulus funding in select years. VIEW ALL DATA DEFINITIONS In , public institutions in  had in education appropriations per FTE, approximately  the U.S. average. General operating appropriations in have per FTE from in to in .

Sector-Level Differences in Education Appropriations

Education appropriations differ by institutional sector. i i Sector-level education appropriations Education appropriations measure state and local support available for public higher education operating expenses and student financial aid, excluding research, hospitals, and medical education. Sector-level education appropriations do not include federal stimulus or state agency funding. VIEW ALL DATA DEFINITIONS In , twoyear institutions received in education appropriations per FTE in  ( the U.S. average), while fouryear institutions received  ( the U.S. average).


State Financial Aid

In , provided  in student financial aid (excluding loans). i i Total student financial aid Total student financial aid is the sum of any state appropriated student financial aid for public, independent, and out-of-state institutions, excluding loans. VIEW ALL DATA DEFINITIONS Of that aid,  went to students attending public institutions;  went to students at independent (private) institutions, and  supported students at out-of-state institutions. Unlike the rest of education appropriations, in most states, financial aid to public institutions has increased over time. VIEW ALL FOOTNOTES Since , state public financial aid in has gone from  to  of all education appropriations. i i State aid as a percent of education appropriations State aid as a percent of education appropriations measures allocations to state scholarships or other state financial aid for students attending public in-state institutions, as a proportion of total state and local support available for public higher education operating expenses. VIEW ALL DATA DEFINITIONS

State Financial Aid for Students Attending Public Institutions

Note: Data for these metrics is not available prior to 2001.

How Does State Financial Aid Differ by Sector?

States provided different amounts of student financial aid by institutional sector. In  this year, FTE at two-year institutions received financial aid on average than four-year institutions. Student financial aid comprised a larger part of education appropriations allocated to  institutions.


Net Tuition Revenue

How Has the Student Share Changed Over Time?

Over time, the student share (the proportion of total education revenues at public institutions coming from net tuition revenue) has increased in every state. i i Student share The student share is a measure of the proportion of total education revenues at public institutions coming from net tuition revenue. VIEW ALL DATA DEFINITIONS Student share generally rises during economic recessions and levels off during economic recoveries. The sharpest increase in student share occurred during and immediately following the Great Recession. In over half of all states, tuition revenue comprises more than 50% of total revenues. had  student share in .

Per-Student Tuition Revenue Over Time

Net tuition revenue measures tuition and fees at public institutions from in-state and out-of-state students, excluding state and institutional financial aid. i i Net tuition revenue Net tuition revenue is the total amount of tuition and fees, minus state and institutional financial aid and medical tuition and fees. Net tuition is affected by changes in tuition rates as well as proportional differences in out-of-state, international, and graduate student enrollment. VIEW ALL DATA DEFINITIONS In ,  had in net tuition revenue per FTE, approximately the U.S. average.

Unlike education appropriations, net tuition has increased steadily over time and there has been a substantial shift of responsibility for financing public higher education toward net tuition revenue. has seen an average annual since .

How Does Tuition Revenue Vary by Sector?

In , two-year institutions in received  per FTE in net tuition revenue ( the U.S. average), while four-year institutions received  per FTE ( of the U.S. average).


Total Education Revenue

Total education revenue combines the two primary sources of funding for public higher education—education appropriations and net tuition revenue. i i Total education revenue Total education revenue refers to the sum of education appropriations and net tuition, excluding net tuition revenue used for capital debt service. VIEW ALL DATA DEFINITIONS Nationally, total education revenue per FTE is at an all-time high (thanks entirely to increases in net tuition revenue). In , public institutions in had, on average, in total revenue per FTE, approximately the national average. Total education revenue per FTE in has since .

How Do Total Revenues Differ by Sector?

Total revenue varies across two-year and four-year institutions, with lower total revenue at two-year institutions in almost every state. Total education revenue at two-year institutions in was per FTE ( the U.S. average), while four-year total revenue was at per FTE ( the U.S. average).

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