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Financial aid

Question:
Do you have any statistics on financial aid for postsecondary undergraduates?

Response:

Grants and loans are the major forms of federal financial aid for degree/certificate-seeking undergraduate students. The largest federal grant program available to undergraduate students is the Pell Grant program. In order to qualify for a Pell Grant, a student must demonstrate financial need. Federal loans, on the other hand, are available to all students. In addition to federal financial aid, there are also grants from state and local governments, institutions, and private sources, as well as private loans.

The percentage of first-time, full-time degree/certificate-seeking undergraduate students at 4-year degree-granting postsecondary institutions receiving any financial aid was higher in 201314 (85 percent) than in 200809 (82 percent). The percentages of students receiving aid at the different 4-year institutions were also higher in 201314 than in 200809. In 201314, the percentages of students receiving aid at 4-year public institutions (83 percent), 4-year private nonprofit institutions (89 percent), and 4-year private for-profit institutions (89 percent) were higher than they were in 200809 (79 percent at public institutions, 87 percent at private nonprofit institutions, and 85 percent at private for-profit institutions).


Percentage of first-time, full-time undergraduate students receiving financial aid at 4-year degree-granting postsecondary institutions, by control of institution: Academic years 200809 through 201314

The data in this figure is described in the surrounding text. /

NOTE: Degree-granting institutions grant associate's or higher degrees and participate in Title IV federal financial aid programs. Some data have been revised from previously published figures. Student financial aid includes any Federal Work-Study, loans to students, and grant or scholarship aid from the federal government, state/local government, the institution, and other sources known to the institution. Student loans include only loans made directly to students; they do not include Parent Loans for Undergraduate Students (PLUS) and other loans made directly to parents.


For 2-year degree-granting postsecondary institutions, the percentage of first-time, full-time degree/certificate-seeking undergraduate students receiving any financial aid increased from 71 percent in 200809 to 78 percent in 201314. During this time, the percentage of students receiving aid at 2-year public institutions increased from 66 to 77 percent. For students at both 2-year private nonprofit and 2-year private for-profit institutions, the percentage of students receiving aid was also higher in 201314 than in 200809. In 201314, the percentages of students receiving aid at 2-year private nonprofit institutions (92 percent) and 2-year private for-profit institutions (86 percent) were higher than they were in 200809 (87 percent at private nonprofit institutions and 85 percent at private for-profit institutions).


Percentage of first-time, full-time undergraduate students receiving financial aid at 2-year degree-granting postsecondary institutions, by control of institution: Academic years 200809 through 201314

The data in this figure is described in the surrounding text. /

NOTE: Degree-granting institutions grant associate's or higher degrees and participate in Title IV federal financial aid programs. Some data have been revised from previously published figures. Student financial aid includes any Federal Work-Study, loans to students, and grant or scholarship aid from the federal government, state/local government, the institution, and other sources known to the institution. Student loans include only loans made directly to students; they do not include Parent Loans for Undergraduate Students (PLUS) and other loans made directly to parents.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2016). The Condition of Education 2016 (NCES 2016-144), Sources of Financial Aid .

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