FINANCIAL AID FACTS
Want to know more about financial aid in the United States? Here are a few facts and figures.*
- About three quarters of all full-time undergraduates in the U.S. receive some form of financial aid.
- The total amount of financial aid available each year has steadily increased. Aid increased by 80% between 1997 and 2007.
- The greatest portion of financial aid comes in the form of federal government loans—about 40%.
- Colleges and universities provide the most grant money to students, almost half of all available grants.
- The number of federal Pell Grant recipients is growing, but the extent to which these grants cover tuition and fees is declining.
- Undergraduates are generally borrowing less money from the federal government and more money from private lenders and through state programs.
*The College Board. (2011). Trends in Student Aid, 2011. The College Board: New York, NY.