Many borrowers also received other types of financial aid (loans, grants, and work-study). Thus, this profile also looks at the other types of aid that were received by each borrower group as well as average amounts received. It explores the various ways in which borrowers finance college attendance in addition to borrowing. Key findings include:
- High borrowers received an average of $9,680 in loan aid. Ninety-eight percent of high borrowers received Stafford loans and about one-quarter received private loans (27 percent).
- Compared to medium and low borrowers, high borrowers were most likely to have received both Stafford subsidized loans and Stafford unsubsidized loans as well as private loans.
- Seventy-one percent of high borrowers received some form of grant aid in 19992000, averaging $4,667. High, medium, and low borrowers were more likely to have received some form of grant aid and to have received higher average amounts compared to nonborrowers.
Stafford Maximum Borrowers
- In 19992000, 80 percent of Stafford total maximum borrowers received subsidized loans, and 59 percent received unsubsidized loans. Stafford maximum borrowers also received private loans (total maximum borrowers, 13 percent; subsidized maximum borrowers, 11 percent; and unsubsidized maximum borrowers, 11 percent).
- Each group of maximum borrowers was more likely to have received private loans and to have received higher average amounts than less-than-maximum borrowers and nonborrowers.
- Most maximum borrowers received some form of grant aid (total maximum borrowers, 67 percent; subsidized maximum borrowers, 80 percent; and unsubsidized maximum borrowers, 54 percent).