The South has made strides in college affordability, but significant challenges remain for lower-income students, according to new data rele...
The 2024 College Affordability Profiles show that while the 16-state region has improved overall affordability metrics in recent years, students from families earning less than $30,000 annually still face substantial financial barriers, particularly at four-year institutions.
"SREB is committed to the idea that postsecondary opportunities, whether credentialing programs, two- or four-year colleges, must be affordable to all students," said SREB President Dr. Stephen L. Pruitt. "Making education possible after high school for all students is critical to give them access to the workforce and ultimately contribute to our economy."
The profiles, which analyze data from the 2021-22 academic year, reveal that the SREB region provided approximately 25.8% more need-based financial aid than the national average — a notable achievement in supporting students with financial need.
Dr. MJ Kim, a researcher with SREB, pointed to increased state appropriations for two-year institutions as an encouraging trend, given the large number of students these colleges serve.
"Greater state appropriations in recent years have substantially improved affordability at two-year institutions in the SREB region, expanding access to postsecondary education," Kim said. "This progress deserves attention and recognition, especially as states continue investing in pathways that make higher education more accessible and workforce aligned."
The reports show consistent improvement across all institution types from 2017-18 to 2021-22, with 3 to 4 percentage point reductions in the family income required to cover net prices at public institutions.
However, for families earning less than $30,000 annually, the percentage of income required for tuition and fees remains significantly higher at four-year public institutions compared to two-year and technical colleges.
Education experts note that addressing these affordability gaps is crucial for the region's economic future. By 2031, projections indicate that 64% of jobs in the SREB region will require a postsecondary credential. Currently, the postsecondary attainment rate in the region stands at 51%, compared to the national average of 54%.
The affordability profiles are designed to help state policymakers evaluate and improve college affordability in their respective states. Individual reports are available for all 16 SREB member states: Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
State lawmakers across the South are expected to use these findings to inform policy decisions on higher education funding, financial aid programs, and strategies to increase postsecondary attainment rates.
"These reports show where our increased appropriations are working, particularly in the two-year sector, and where we need to focus next," said a state education official who reviewed the findings.
Education advocates emphasize that making college affordable isn't just about reducing costs but about creating viable pathways to higher education for all students, regardless of financial circumstances.
The SREB, a nonprofit, nonpartisan interstate compact created in 1948 by Southern governors and legislators, works with states to improve education at every level, from early childhood through doctoral education and the workforce. The organization has long recognized the link between education and economic vitality in the region.
The complete college affordability brief for the entire region and all 16 individual state profiles are available here.
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