This study a) described the financial composite of urban and rural institutions, b) described how low income, dependent, undergraduate students finance their postsecondary education at urban and rural institutions, c) tested for differences in financing patterns based on the type and location of the institution, and d) determined if selected characteristics explain the variance of selected financial aid variables. Much of the current literature views low income students as a homogeneous group. The purpose of this study was to disaggregate low income students by focusing on the location of institutions attended and how they finance their postsecondary education.
Data for this study was gathered through two national data sets: the Integrated Postsecondary Education Data System (IPEDS) and the National Postsecondary Student Aid Study (NPSAS:04). The first two research questions were answered through descriptive analyses. The third and fourth questions were answered through t-tests. The final question was answered through weighted least squares regression. The descriptive and regression analyses were all conducted using the Data Analysis System (DAS).
The results of this study provided a financial description of urban and rural institutions, as well as how low income, dependent, undergraduates finance their postsecondary education at these institutions. How students finance their postsecondary education was similar at both institutions. The comparative results highlighted the significant differences between how low income students finance their postsecondary education at urban and rural institutions and at different types of urban and rural institutions. Finally, regression models were constructed to determine if location of the institution and selected characteristics explained the total amount of financial aid, total Pell grant, and total amount loans received by low-income, dependent, undergraduate students.