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FAST FACT #1: College costs are stable when adjusting for inflation.
Fact: According to Georgetown University, the average cost of tuition, fees, room, and board for a baccalaureate degree increased by 169% in constant 2019 dollars from 1980 to 2020. In 2020-2021 dollars, one year of college tuition cost just over $4,300 in 1963; by 2020, it cost nearly $14,000, excluding fees, room and board, books, etc. These higher costs have led to food insecurity, and in 2022, almost 800 campuses had food pantries. A 2020 Hope Center survey found that 52% of students at two-year colleges and 43% at four-year colleges experienced housing insecurity, with 14% living in homeless shelters or non-residential areas.
FAST FACT #2: The amount owed in student loans is secondary only to mortgages.
Fact: The Federal Reserve found that student loans in the first quarter of 2006 totaled almost $481 billion, but by the second quarter of 2024, those debts grew to $1.745 trillion, only exceeded by mortgage debt.
FAST FACT #3: Borrowing for college has increased.
Fact: According to U.S. News & World Report, borrowing for private and public colleges has doubled over the last 20 years.
FAST FACT #4: College graduates experience declining rates of home ownership.
Fact: The Federal Reserve Bank of New York reported that tuition hikes and student debt helped explain the decline in homeownership for 28-- to 30-year-olds from 2007 to 2015.
FAST FACT #5: All schools require the FAFSA (Free Application for Federal Student Aid) for federal or state assistance. At the same time, roughly 250 private schools also require the CSS Profile, which has more stringent aid requirements, including adding the income of noncustodial parents in determining aid.
Fact: Litigation is underway to terminate the CSS Profile for being discriminatory and contravening the Sherman Anti-Trust Act.
FAST FACT #6: Generous Pell grants are making it possible for low-income students to attend college.
Fact: Pell Grants constitute a significant, albeit declining, part of the income support package for low-income students. The maximum Pell Grant in 1980 covered the total cost of a two-year degree and 77% of the cost of attending a four-year public university. By 2023-2024, the maximum Pell Grant ($7,395) covered only 28% of the average yearly cost for an in-state student living on campus in a public 4-year college. For out-of-state students, Pell Grants covered less than 17%, and only 13.5% for students in private non-profit colleges.
FAST FACT #7: Most hardworking students can get into elite private universities if they try hard.
Fact: In 2023, the U.S. News & World Report found that the average admission rate of the top 10 US universities was 4.4%. The universities with the lowest acceptance rates are CalTech (3%), Harvard (3%), Columbia (4%), Princeton University (4%), Stanford (4%), Brown (5%), MIT (5%), University of Chicago (5%), Yale (5%), Dartmouth (6%), Colby College (7%), Pomona College (7%), Swarthmore College (7%), Barnard College (8%), Bowdoin College (8%), Amherst College (10%), Middlebury College (10%), and Williams College (10%).
FAST FACT #8: The US has the same number of public and private colleges.
Fact: Approximately 41% of institutions are public four- or two-year colleges; 42% are four- or two-year private nonprofit schools; and 18% are for-profit.
FAST FACT #9: Most US college students attend private colleges and universities.
Fact: Most private nonprofit colleges are small, and roughly 66% of US college students attend two- or four-year public universities.
FAST FACT #10: Even with Pell grants and scholarships, students from low-income families do not graduate at the same rate as students from middle-class families.
Fact: Students from low-income backgrounds who attended underperforming high schools are 74% more likely to drop out of college. The six-year graduation rate for Hispanics, Pacific Islanders, Blacks, and American Indian/Alaska Native students was less than 40%. The dropout risk is highest for the lowest income quartile, whose chance of graduation is only 14%, rising to 41% for academically strong students.
FAST FACT #11: Most college students don’t have to work because of scholarships, grants, and loans.
Fact: In 2020, 74% of part-time undergraduate students were employed, while 40% of full-time students had jobs. College students with jobs are 20% less likely to graduate. In 2019, 51% of low-income students employed 20 or more hours a week had a C or lower grade average.
FAST FACT #12: Due to partying and social events, sorority and fraternity members are less likely to graduate.
Fact: Students in fraternities and sororities are more likely to graduate than unaffiliated students. Some clubs provide academic support to members, such as tutors, study files, and sharing coursework and exam notes. Others have minimum GPA requirements.
FAST FACT #13: People with some college but no degree have equivalent incomes to high school graduates.
Fact: A 2021 Georgetown University study found that those with some college education but no degree earned $1.9 million in their lifetime, or about 19% more than high school-only graduates.
FAST FACT #14: Associate arts degrees have only a limited impact on lifetime earnings.
Fact: An associate arts degree will increase lifetime earnings by 25% compared to a high school diploma.
FAST FACT #15: Because the employment market is glutted with college graduates, having only a bachelor's degree has little effect on lifetime earnings.
Fact: Bachelor degree holders earn $2.8 million over their lifetime, or 75% more than those with only a high school diploma.
FAST FACT #16: While prestigious, a PhD does not translate into higher lifetime earnings than a bachelor’s degree.
Fact: Doctoral degree holders earn $4 million over their lifetimes (43% more than those with only a bachelor’s degree).
FAST FACT #17: Professional degree holders have the highest lifetime earnings.
Fact: Professional degree holders earn the highest median lifetime income of $4.7 million, or 68% more than those with only a bachelor’s degree.
FAST FACT #18: College degrees always translate into higher lifetime earnings.
Fact: Over a lifetime, at least 25% of high school graduates will earn more than those with an associate arts degree; 25% of associate degree holders will earn more than 50% of those with a bachelor's degree; and 25% of those with a bachelor’s degree will earn than 50% more than those with a master’s or doctoral degree.
FAST FACT #19: College graduates have a lower unemployment rate than high school-only graduates.
Fact: In 2023, the unemployment rate for high school-only employees was 4.7%, compared to 3.4% for those with an associate arts degree, 2.2% for bachelor-degreed workers, and 1.4% for advanced degree holders and professionals.
FAST FACT #20: Business majors earn the highest income.
Fact: Undergraduates who major in architecture and engineering earn the highest lifetime earnings ($3.8 million), followed by computers, statistics, and mathematics ($3.6 million). Business ranks third at $3 million.
FAST FACT #21: Undergraduates who major in liberal arts, humanities, education, and the service sector are the lowest paid.
Fact: undergraduate majors in liberal arts, humanities, and recreation are on the low end of the earnings scale, with lifetime earnings of social work, psychology ($2.2 million), and education ($2 million) occupying the lowest rung.
FAST FACT #22: The changes from DEI and Affirmative Action policies have resulted in the lifetime wages of college-educated women equaling or surpassing those of college-educated White males.
Fact: In 2020, women with bachelor’s degrees or higher earned 75% of a male wage with the same educational attainment. White women with a bachelor's degree earned roughly $60,000 a year compared to almost $95,000 for men. White women with an advanced degree earned $79,000 a year compared to $137,000 for a White male. College-educated women have to have one degree higher to match the salaries of males with a similar education.
FAST FACT #23: Affirmative Action policies have helped women of color and minority men increase their earnings compared to White men.
Fact: While beneficial, these policies have limited impact. Hispanic women with advanced degrees earn as much as Hispanic males with baccalaureates. Black and Hispanic males earn less than White males at every level of education.
FAST FACT #24: Given the increased income of a college degree, the return on investment (ROI) always justifies a college education.
Fact: The average median income of a baccalaureate degree holder in 2021 was $74,000. Several trades, including elevator installers, exceed that wage. Some of the presumed ROI is mitigated by the loss of income in acquiring a degree and student loans. Moreover, 38% of students from very low-income families see no ROI as they remain poor after graduating college.
FAST FACT #25: Which educational institution offers the best short- and long-term ROI?
Fact: Georgetown University’s Anthony Carnevale et al. found that community colleges and some certificate programs had the highest short-term (ten-year) ROI, while primarily baccalaureate colleges had the highest long-term (forty-year) ROI. Degrees from private nonprofit colleges generally had a higher long-term ROI than public universities since the median annual earnings 10 years after graduation was almost $8,000 higher.
FAST FACT #26: The college you graduate from matters.
Fact: A 2021 Northwestern University study found that graduates of highly selective universities earned more regardless of their major. Those from top business schools earned 12% more than those from middle-tier institutions. The sciences showed the weakest earnings differences based on a college. A disproportionate number of industry and government leaders graduated from Ivy League or other selective schools, including 8 of the 9 Supreme Court judges who graduated from Yale or Harvard. Jonathan Wai found that almost 45% of billionaires, 56% of powerful women, 64% of Davos attendees, and 85% of powerful men attended elite schools.
FAST FACT #27: The choice of a college is often based on family income.
Fact: According to Raj Chetty, children whose parents are in the top 1% of the income distribution are 77 times more likely to attend an Ivy League than those in the bottom income quintile. Only 3.8% of students from the bottom income quintile attend Ivy-Plus (e.g., Stanford, MIT, the University of Chicago, and Duke) institutions. A Pell study found that only 33% of low-income undergraduates enroll in selective admissions colleges; 5% enroll in the most competitive institutions, 9% in very competitive institutions, and 19% in competitive institutions.
FAST FACT #28: Almost all college graduates find appropriate jobs in their fields based on their training.
Fact: According to the Federal Reserve, more than 40% of college graduates are underemployed. For some disciplines, the 2021 underemployment rate was over 64%.
FAST FACT #29: The US has the most educated workforce because of the money invested in higher education.
Fact: In 2021, the US ranked thirteenth among OECD nations in terms of the percentage of the population with a tertiary degree. The US was below Korea, Canada, Japan, Luxemburg, Ireland, the United Kingdom, Netherlands, Norway, and Australia. British undergraduates increased by 12% since 2016 compared to an 8% drop in the US; 67% of Canadians between twenty-five and thirty-four graduated from a two- or four-year college, which is 15% higher than the US. OECD countries have increased the number of their college graduates by 20% since 2000, and 11 smaller countries now have a better-educated labor force than the US.
FAST FACT #30: The US spends more on higher education than other countries.
Fact: The US ranks second among OECD countries in spending per tertiary student at $35,736. (Luxembourg was higher since tuition is free.)
FAST FACT #31: College education has become less demanding because of grade inflation and other factors.
Fact: From 1963 to 2013, American college students' average grade point average (GPA) rose from 2.5 to 3.15, while studying hours fell by half.
FAST FACT #32: State government spending on higher education has increased steadily since the 1970s.
Fact: State revenue cuts in economic downturns have hit higher education hard since no legislation mandates free access to higher education (unlike primary and secondary education). From 2003 to 2023, tuition and fees for in-state students at public universities rose 175% to make up for drops in state revenue. By 2020, 32 states had spent less on higher education than in 2008, with an average decline of nearly $1,500 per student.
FAST FACT #33: Inflation in higher education costs are less than in healthcare.
Fact: Public higher education costs rose 175% from 2002 to 2022 compared to 96% for healthcare in the same period.
FAST FACT #34: The support of the American public toward higher education has been consistently positive.
Fact: By 2023, Americans' confidence in higher education plummeted to 36%, lower than the 57% in 2015. Only 17% of US adults had “a great deal” of confidence in higher education, while 22% had “very little” confidence.
FAST FACT #35: Critical Race Theory (CRT) is dangerous and divisive.
Fact: CRT maintains that systemic racism is part of American society and that racism is embedded in laws, policies, and institutions that promulgate racial inequalities.
FAST FACT #36: Diversity, Equity, and Inclusion (DEI) university offices are under fire in many states.
Fact: Texas, Florida, and Utah have dismantled university DEI offices, with several other states close to following suit.
FAST FACT #37: The US Supreme Court struck down race-based admissions (Affirmative Action), which has important implications for US higher education.
Fact: In 2023, the Supreme Court overturned the race-based admissions policy in higher education, overturning more than 40 years of legal precedent. The Court’s decision is limited since of the approximately 4,000 US colleges and universities, only about 200 have highly selective admissions policies (i.e., admit less than 50% of applicants), where affirmative action admissions would have the most impact.
FAST FACT #38: Most conferred college degrees are in vocationally-based fields.
Fact: Of the two million bachelor’s degrees conferred in 2020, 58% were in six fields: 19% in business, 13% in health professions and related programs, and only 8% in liberal arts.
FAST FACT #39: The master’s degree is the fastest-growing university degree.
Fact: Between 2011 and 2021, the number of conferred master’s degrees rose by 19%; by 2023, almost 9% of those twenty-five and older had a master’s degree, roughly the same proportion as had a bachelor’s degree in 1960.
FAST FACT #40: While only 16% of all college students are graduate students, they have the highest rate of indebtedness.
Fact: In 2021, graduate students accounted for 47% of federal student loans; in 2016, their average student loan debt was $50,290 or more than $13,000 higher than baccalaureate debt.
FAST FACT #41: College enrolment is expected to skyrocket in the coming decades.
Fact: College enrollment is expected to increase by only 1% from 2022 to 2031. This is a steep decline since the US population is expected to grow by 2.7%.
FAST FACT #42: Parent PLUS Loans can be discharged in bankruptcy proceedings.
Fact: These loans are not typically discharged in bankruptcy.
FAST FACT #43: Student loan debt has little impact on college because of their increased earnings.
Fact: An Urban Institute study found that a 1% increase in student debt curbs homeownership by 15%. Almost 30% of borrowers live with their parents after graduating; 34% delay starting a family, 47% delay buying a new car, 73% delay saving for retirement, and 28% delay marriage.
FAST FACT #44: There is a high rate of defaults on student loans.
Fact: During the last twenty years, 33% of federal student loans defaulted (i.e., at least 270 days without payment). Nearly 66% of this group defaulted multiple times. In mid-2024, 4.4% of student loans were in default.
FAST FACT #45: Student loans can be forgiven in bankruptcy.
Fact: Student loans are typically not forgiven in bankruptcy proceedings. Borrowers who default may have their tax refunds and federal benefit payments withheld, have their wages garnished, and have to pay court costs, collection fees, and attorney's fees.
FAST FACT #46: The Public Service Loan Forgiveness (PSLF) program criteria are easy to meet.
Fact: The program can forgive the remaining loan balance if the borrower has made 10 years of continuing monthly payments and works full-time in a public or nonprofit qualifying organization. By then, most loans for many borrowers had already been repaid.
FAST FACT #47: Since tuition rises have slowed since 2023, college attendance has become less expensive.
Fact: While average tuition and fees in 2023 rose only 1.6% at two-year schools and 1.8% at four-year public colleges, other costs have escalated. The cost of on-campus housing rose 72% from 2011 to 2021 (the average dorm room in public colleges costs $7,103 for an academic year). Food added another $5,403, and textbooks and supplies another $1,230.
FAST FACT #48: Faculty salaries cause high tuition and other rising costs in higher education.
Fact: From 2011 to 2021, the nominal faculty salary adjusted for inflation rose 0.8% for full professors, 0.4% for associate professors, 0.72% for assistant professors, and -0.21% for instructors. At the same time, inflation rose by 1.7%. (the average US wage rose 2.05% from 2011 to 2021). In short, Academic salaries lost roughly 1.3% of their value. Stagnant faculty salaries imply that instructors are not the primary cause of the sharp rise in tuition.
FAST FACT #49: State funds are the primary funding source for public colleges and universities.
Fact: State funds make up a small proportion of the budget of many public universities. Between 2021-2023, only 4.3% of the University of Colorado Boulder's budget, 8.6% of the University of Virginia's budget, 15% of the University of Wisconsin’s budget, 28% of the University of Massachusetts-Amherst budget, and only 14% percent of the University of Michigan’s budget came from state revenues.
FAST FACT #50: State funding cuts have caused public colleges and universities to borrow from the private bond market.
Fact: Public universities owed $145 billion in 2017, with half of their infrastructure financed by debt. It is estimated that roughly 9% of college budgets go to debt service, rising faster than enrollment growth. In 2012, interest payments added roughly $750 at a public university and $1,289 at a private university to a student’s tuition.
FAST FACT #51: Administrative bloat in higher education is largely a myth.
Fact: In 1895, the typical US university employed roughly four administrators. By 1965, that number grew to more than 225; by 2023, it was closer to 500. From 2010 to 2018, administrative spending rose 29% compared to 17% on instructional staff.
FAST FACT #52: Donations and endowment income are important revenue streams for elite universities.
Fact: Of Harvard’s 2022 revenues, 45% came from philanthropy and their $53 billion endowment. Yale’s endowment was $42.3 billion, followed by Stanford’s $38.7 billion and Princeton’s $38 billion. Twenty elite universities own half of the $800 billion in endowments.
FAST FACT #53: Legacy admissions is an enrollment source for elite private universities.
Fact: Fifty-six percent of America’s top 250 institutions consider legacy in their admissions process. Except for MIT, which does not prefer legacies, private schools, and many public flagships subscribe to this favoritism for the affluent.
FAST FACT #54: External research funding is an important revenue source for universities.
Fact: Karen Holbrook and Paul Sanberg found that most universities lose money on federal and other research grants since they only cover a relatively small portion of the real indirect costs. However, much of this depends on how the university calculates costs.
FAST FACT #55: Tuition costs are standard and the same across disciplines.
Fact: Sometimes disguised as additional fees, about 60% of public universities charge premium tuition for high-demand undergraduate and graduate majors in business, health sciences, nursing, pharmacy, physical and life sciences, law, chemistry, engineering, and computer science.
FAST FACT #56: Tuition discounts are common throughout the private nonprofit higher education sector.
Fact: One study found that almost 55% of these institutions offered tuition discounts. The discount rate for first-time undergraduates at selective or highly selective institutions was 45%.
FAST FACT #57: Competition around lower tuition costs benefits colleges by increasing efficiency.
Fact: Aggressive tuition discounting can lead to a price war that devastates financially fragile nonprofit institutions. Tuition discounts and shrinking enrollment can drive struggling colleges into bankruptcy, deeper debt, exhausted endowments, and a desperate attempt to merge with a financially stronger institution.
FAST FACT #58: Most colleges make every effort to be transparent about the cost of their degree.
Fact: A 2023 government report found that 91% of colleges understate the cost of their degrees, 65% omit details about aid packages, and 31% list loans as grants (misleading students about repayment). Many financial aid statements don’t count the price of books, housing, food, and personal expenses. About 25% of colleges don’t include any information on tuition and fees.
FAST FACT #59: College presidents are highly paid.
Fact: In 2023, the median salary of a college president in a public doctoral-granting university was $592,119; $263,865 in a public, primarily baccalaureate college; $962,468 in private nonprofit institutions; $962,468 in a doctoral-granting university; $467,345 in a primarily baccalaureate college; and $757,246 in a religiously affiliated doctoral university. By 2016, 61 college presidents earned over $1 million yearly, while 14 earned $2+ million.
FAST FACT #60: An institution's status determines a college president’s salary.
Fact: In 2016, the presidents of Harvard and Yale earned less than their cohorts in lower-ranked schools like High Point University, Macalester College, or Texas Christian University. There is little rhyme or reason on how college presidents are paid.
FAST FACT #61: The prerequisite qualification for a college president is having an academic background.
Fact: A 2016 study found that 15% of college presidents came from outside academia. A 2018 study found that 40.5% of college presidents in public universities had never held a tenure-track academic position.
FAST FACT #62: University governing boards (e.g., Regents, Trustees, Governors, etc.) are appointed through transparent voting.
Fact: In most states, appointments to public university governing boards are made by Governors, sometimes with the state legislature's approval. Boards of private universities are selected either by an alumni vote or by the board members.
FAST FACT #63: Tenure protects dead wood; once a faculty member is tenured, they cannot be fired.
Fact: Most universities hold tenured professors accountable through a post-tenure review process that often occurs every five years. The elimination or restriction of tenure is on the legislative agenda in several states. Tenure positions are eroding, and by 2020, 61.5% of faculty members had non-tenure track appointments.
FAST FACT #64: Faculty wield increasing power in most institutions.
Fact: A 2021 study found that faculty involvement in institutional decision-making declined from 1971 to 2021, especially in allocating faculty positions and budgetary input.
FAST FACT #65: Faculty unionization has declined, similar to the overall decline in union membership, which fell from 20% of workers in 1983 to 10% in 2022).
Fact: From 2013 to 2019, 118 newly recognized or certified faculty bargaining units covered 36,264 members. There were 65 five new bargaining units in private non-profit institutions and 50 at public institutions. The number of faculty bargaining units at non-profit colleges grew by 81 percent from 2012 to 2020. Despite this rise, only 25 percent of college faculty are unionized.
FAST FACT #66: College adjunct instructors are paid well and are covered by employee benefits.
Fact: Adjuncts are paid per course and receive nothing if the class doesn’t fill. Sometimes, they are informed of their assignment only a few days before the course begins. In 2022, the average remuneration for a 15-week course ranged from $2,839 in two-year-only institutions to $4,969 in doctoral institutions. The average reimbursement was about $3,500 or $233 weekly for 15 weeks. Adjuncts receive no health insurance, retirement plans, sick leave, etc.
FAST FACT #67: Adjunct instructors are paid separately to develop course content, manage course software, create course syllabi, grade papers and assignments, and hold office hours.
Fact: No additional remuneration is generally received for any course-related activities.
FAST FACT #68: Online college courses are cheaper than providing in-person classes.
Fact: The Florida Board of Governors estimated that an online class costs $41.48 more per credit hour than an in-person class. Proponents argue that high startup costs are recouped through larger class sizes and recycling the course content and instructional platform.
FAST FACT #69: Universities benefit from using for-profit online course management corporations like 2U, Pearson, Wiley, etc.
Fact: Although online program managers (OPMs) provide turnkey solutions for online courses, universities must agree to revenue-sharing ranging from 20% to 60% of tuition income, a disincentive for lowering tuition. OPM partnerships can include long contracts with strict exiting terms and automatic contract renewals and may prohibit schools from contracting with other companies for similar services. OPMs are incentivized to sign up competing schools since they receive a percentage of tuition per student.
FAST FACT #70: Competition among educational publishers has curbed the rise in textbook prices.
Fact: Three corporations control 80% of the textbook market, which has allowed prices to balloon by 1,041% from 1977 to 2015, outpacing inflation by 238%. From 2002 to 2012, textbook prices outpaced the growth in the consumer price index by almost 193%.
FAST FACT #71: Adding new information is the driver for new textbook editions.
Fact: To counter used book sales that bring no additional revenue, publishers revise textbooks every three to four years, almost always increasing prices. Since instructors typically assign the newest edition, students pay for this version regardless of how the textbook has been updated.
FAST FACT #72: Textbook rentals effectively cut costs for students.
Fact: While they may be cheaper, textbook rentals expose students to potential dangers. If a book is damaged, the student is responsible for paying the total price of a new book, which is often marked up. Keeping the textbook in good shape can be challenging, given the shoddy production quality of some books.
FAST FACT #73: OER (open education resources) textbooks lower textbook costs.
Fact: The number of college faculty using free OER resources rose from 5% in 2015-2016 to 22% in 2021-2022. Since 2018, $47 million has been appropriated to the OER program, leading to student savings of $250 million.
FAST FACT #74: NCAA’s primary concern is the well-being of student-athletes.
Fact: In 2019, only $2.9 billion of the $15.8 billion in Division I NCAA revenues went to athletic scholarships, 1% to medical treatment and insurance for students, 35% to administrators and compensation to coaches, and 18% to facilities.
FAST FACT #75: Colleges consider the well-being of their student-athletes above all else.
Fact: In 202, Power Five schools spent $936 million on student aid compared to $1.2 billion on coaching salaries. Of the $16.6 billion generated in 2021 by 2,078 colleges with sports programs, $323 million went toward recruiting, $3.9 billion for operating expenses, and $4.6 billion for athlete-based student aid.
FAST FACT #76: NCAA Division 1 schools focus their resources on education despite the importance of their athletic programs.
Fact: In 2023, NCAA schools had roughly 45,000 student-athletes and 4,400 coaches. This 10:1 ratio is the envy of almost any public university where the student-faculty ratio ranges from 14:1 to 18:1. College sports programs supported 27,243 head coaches with a median salary of $507,650 and 56,599 assistant coaches who earned $248,463. By comparison, 57,680 English language and literature teachers in higher education earned a median wage of $74,280, while 36,000 engineering faculty earned $103,550 in 2022.
FAST FACT #77: Revenue generated by college sports is relatively flat despite lucrative broadcasting deals.
Fact: The US Department of Education valued America's college sports industry at $16.6 billion in 2012, almost four times higher than the $4.3 billion generated in 2003 and nearly double the $8.4 billion generated in 2009. By 2024, the college sports industry was estimated to be worth around $112.4 billion. That linear revenue growth would be the envy of most corporations.
FAST FACT #78: Gambling on college sports is illegal.
Fact: In 2018, the US Supreme Court ruled that states could have legalized professional and college sports gambling. By 2023, 37 states had legalized sports betting. The American Gaming Association (AGA) predicted that 68 million Americans would wager $15.5 billion on NCAA sports in 2023. Roughly $8 billion is bet in an average college football season.
FAST FACT #79: Student-athletes and other members of athletics departments cannot bet on any NCAA-sponsored sport or share information used for sports wagering.
Fact: The NCAA requires student-athletes to sign a yearly statement verifying that they understand sports betting rules. They are also expected to report any violation to their athletics director. Nevertheless, the NCAA has no blanket punishment for breaking the gambling rule.
FAST FACT #80: Most student-athletes benefit from media exposure.
Fact: A 2020 study found that despite athletes' television and social media exposure, less than 7% of men’s football and basketball revenue was transferred to them. US professional football and men’s basketball players receive roughly 50% of revenues.
FAST FACT #81: Black football and basketball players from lower-income families generate the majority of revenue in college sports.
Fact: Black players account for almost half of the football and basketball players in the Power Five schools but only represent 11% of the players in money-losing sports. Hence, student-athletes in revenue-producing sports subsidize predominantly White, non-revenue-producing sports like golf, tennis, swimming, softball, and wrestling.
FAST FACT #82: A minuscule number of college athletes make it to the major leagues.
Fact: Less than 2% of Division I college football and basketball players ever play a game in a national football or basketball league.
FAST FACT #83: The NCAA can be credited with the increase in the graduation success rates (GSR) for Division I athletes from 74% in 2002 to 90% in 2022.
Fact: Critics argue that the NCAA's measures of comparing athletes and non-athletes are not equivalent, and hence, their graduation data is flawed. Andrew Zimbalist found that 52% of all Division I men’s basketball players and 38% of all Division I football players on full scholarships failed to graduate on time.
FAST FACT #84: The Supreme Court's NILs (name, image, and likeness) ruling has allowed top student-athletes to acquire considerable income.
Fact: Sports writer Justin Byers estimates that NILs could be worth as much as $1.5 billion for college athletes, with a few top athletes earning $6.5 million annually.
FAST FACT #85: Most colleges and universities lose money on their sports programs.
Fact: Sixty-five of the 2,078 schools with sports programs generate 54% of all college sports revenue. Division 1 schools account for 97% of the NCAA’s revenue and profit. In 2020, Scott Hirko identified 18 profitable and 211 money-losing NCAA Division-I public athletic programs. NCAA data supported Hirko’s findings, and in 2020, the median loss among colleges was roughly $18.8 million for the highest-level football division. Only 25 institutions had revenues that exceeded expenses.
FAST FACT #86: Coaching salaries are a key factor in driving up the costs of college sports.
Fact: Over 100 Division I head coaches earned over $1 million a year in 2020, with the top twenty-five football coaches earning an average of $5.2 million. The top 25 basketball coaches earned $3.2 million. After adjusting for inflation, the average wage for head football coaches in public universities rose by 750% from 1984 to 2020. College football and basketball coaches are the highest-paid public employees in forty-one out of 50 US states.
FAST FACT #87: Between scholarships, school-based grants, Pell grants, and student loans, most families do not pay anything (or very little) out-of-pocket for their child’s college education.
Fact: College students and their families pay 50% of the education costs, equivalent to $14,000 per student for the 2022-2023 academic year.
FAST FACT #88: Most families know about 529 plans, which are tax-advantaged plans used by families to save money for their child’s college education.
Fact: Roughly 30% of families have a college savings fund (e.g., a 529 plan) and save an average of $7,806. Despite 16 million American families using 529s, 54% of parents are unaware of these programs.
FAST FACT #89: Students are always notified when a college permanently closes its doors.
Fact: Seventy percent of students impacted by a college closure experience it as abrupt.
FAST FACT #90: For-profit colleges are becoming obsolete as public universities purchase them.
Fact: The University of Idaho bought the struggling University of Phoenix, once the largest for-profit university in America. The University of Arizona purchased Ashford University, while Purdue University purchased Kaplan University and rebranded it Purdue University Global.
FAST FACT #91: Liberal arts education remains a strong foundation in American higher education.
Fact: A 2022 ACTA study found that fewer than 20% of colleges and universities require students to study government or history, and less than 33% require a literature course.
FAST FACT #92: The lower college education costs in OECD countries result from lower-paid faculty.
Fact: The average US faculty member in 2022 earned $79,640 compared to $77,000 in Germany, $105,000 in Australia, $77,000 in the UK, $73,000 in Canada, and $74,000 in France.
FAST FACT #93: The high costs of US higher education come from research and development expenses per university student.
Fact: In 2019, per student expenditure on research and development in the US was $4,093 compared to $17,527 in Switzerland, $13,961 in Sweden, $8,460 in Germany, $7,589 in the Netherlands, $6,644 in Australia, $5,803 in the UK, and $5,405 in France.
FAST FACT #94: US universities are the top-ranked universities worldwide.
Fact: US universities are only in the middle range of world universities based on world rankings.
FAST FACT #95: US students pay more for higher education than in other countries.
Fact: Among OECD nations, US undergraduates paid $9,212 a year compared to Canadian students, who paid $4,923; Japanese students paid $3,717; Australians paid $3,433; New Zealanders paid $4,621; and Israelis paid $2,604.
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