Virginia Commonwealth University
PA-8: Affordability and Access

Institution is affordable and accessible to low-income students as demonstrated by one or more of the following indicators:

A. Percentage of need met, on average, for students who were awarded any need-based aid

B. Percentage of students graduating without student loan debt

C. Percentage of entering students that are low-income

D. Graduation/success rate for low-income students

These indicators are scored together to form a multi-dimensional index of affordability and accessibility that is relevant to institutions in diverse contexts. It is not expected that every institution will necessarily have the data required to report on all four indicators or achieve 100 percent on each indicator that it reports on. See Measurement for specific guidance on completing each indicator.

This credit applies to all institutions.

An institution earns the maximum of 4 points available for this credit based on its combined performance on the indicators listed. For example, an institution that reports 100 percent for three of the four indicators would earn all 4 points for this credit. Likewise, an institution that reports 75 percent or more for all four indicators would earn 4 points. Incremental points are available; for example, an institution that reports 50 percent for 3 of the four indicators would earn 2 points (half of the points available for the credit). Points are earned according to the following table:

Timeframe

Report the most recent data available from within the three years prior to the anticipated date of submission.

Sampling and Data Standards

Report on the institution’s largest admissions group or student cohort (e.g., undergraduate students). Institutions may choose to include or omit smaller schools or departments within the institution.

Indicator A

An institution may meet student financial need in a variety of ways, for example:

• Scholarships and grants

• Self-help (e.g. work study, employment)

• Tuition waivers or not requiring tuition

• Subsidized or no-interest loans

• Athletic awards

Exclude any aid awarded in excess of need, as well as any resources awarded to replace expected family contribution (e.g., unsubsidized loans and private loans).

U.S. institutions may provide the value of item H2 as reported to the U.S. Common Data Set (CDS) initiative. An institution that does not assess student need as a matter of standard practice may report the percentage of total cost met, on average, for low-income students.

Indicator B

Students that graduate without student loan debt may be defined as students for whom 100 percent of total cost, demonstrated financial need (in excess of expected family contribution), or the equivalent is met without resort to student loans. Private loans taken out to replace expected family contribution are excluded, i.e., not counted as student loans.

Indicator C

Low-income students may be identified by student grant eligibility criteria, family income thresholds, or the equivalent (see Standards and Terms).

Indicator D

An institution may report the graduation rate, success rate, or combined graduation/success rate for low-income students, as appropriate to its particular context and the types of programs offered.