221 A New Definition for College Affordability - Exploring the Implications of Lumina’s "Rule of 10" Benchmark

Tuesday, July 12, 2016: 11:00 AM-12:00 PM
Maryland Suite (Marriott Wardman Park)
Session Type: Interest Sessions
Track: Leadership/Manager's Track
Subcategories: Advocacy & Policy Making
Audience: All
Credit Type: Credit Hours and Clock Hours
School Type: All Schools
Lumina Foundation has proposed a student-centered model of affordability that begins with what students can reasonably contribute, and then suggests a system be built around their needs. Their resulting Rule of 10 proposes that college is affordable if students pay no more than the savings generated through 10 percent of discretionary income for 10 years as well as the earnings from working 10 hours a week while in school. This session will examine the contributions expected under the Rule of 10 compared to the currently used expected family contribution (EFC), as well as discuss the type and scope of policy interventions necessary.
Jesse O'Connell (Lumina Foundation for Education)
Zakiya Smith (Lumina Foundation for Education)
Elizabeth Akers (Brookings Institution)
Mark P. Huelsman (Demos)