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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, grants from state and local governments, institutions, and private sources are available, as are private loans. The forms of financial aid discussed in this Fast Fact are only those provided directly to students. For example, 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.

At 4-year degree-granting postsecondary institutions, the percentage of first-time, full-time degree/certificate-seeking undergraduate students who were awarded financial aid was higher in academic year 201415 (86 percent) than in 200910 (85 percent).1 The percentages of students awarded aid at public and private nonprofit 4-year institutions were also higher in 201415 than in 200910. In 201415, the percentages of students awarded aid were 84 percent at public 4-year institutions and 90 percent at private nonprofit 4-year institutions, compared with 82 and 89 percent, respectively, in 200910. The percentage of students awarded aid at private for-profit 4-year institutions, however, decreased between 200910 and 201415 from 92 to 89 percent.


Percentage of first-time, full-time undergraduate students awarded financial aid at 4-year degree-granting postsecondary institutions, by control of institution: Academic years 200910 through 201415

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 academic year 200910, the percentage represents students receiving aid, rather than students awarded aid.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2017). The Condition of Education 2017 (NCES 2017-144), Sources of Financial Aid.


At 2-year degree-granting postsecondary institutions, the percentage of first-time, full-time degree/certificate-seeking undergraduate students who were awarded financial aid was higher in 201415 (79 percent) than in 200910 (75 percent). Between 200910 and 201415, the percentage of students awarded aid at public 2-year institutions increased from 70 to 77 percent. At private nonprofit 2-year institutions, the percentage of students awarded aid was also higher in 201415 (91 percent) than in 200910 (89 percent). At private for-profit 2-year institutions, however, the percentage of students awarded aid was about the same in 201415 as in 200910 (88 percent each).


Percentage of first-time, full-time undergraduate students awarded financial aid at 2-year degree-granting postsecondary institutions, by control of institution: Academic years 200910 through 201415

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 academic year 200910, the percentage represents students receiving aid, rather than students awarded aid.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2017). The Condition of Education 2017 (NCES 2017-144), Sources of Financial Aid.

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