Who Gets Financial Aid?

Who gets © financial aid? Recent trends in college student aid O Student aid is on the rise. Student aid growth Total Student Aid* adjusted for inflation (in Billions) $220 $180 $140 $100 $60 99-00 00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 * Includes Federal Grants, Loans, Work Study, Tax Benefits, State, Institutional & Private Grants, and Nonfederal Loans Source: The College Board Undergraduate aid vs. graduate aid Full-time undergrad All undergrad students All graduate students students Who receives financial 66% receive aid 80% 74% aid? receive aid receive aid How much aid is given? (per recipient, annually) $17,600 $9,100 $12,700 Source: National Center for Education Statistics & The College Board The American Recovery & Reinvestment Act of 2009 added $17.1 Billion to the Pell Grant fund and $200 Million to the Work Study program. *** HI Source: http://www2.ed.gov/policy/gen/leg/recovery/implementation.html 2 What aid is available? Undergraduate Student Aid by Source 2009-2010 Total aid given in 2009-10 $154 Billion 17% Institutional Grants $121.9B 8% Federal Grants 43% Federal Loans 18% 6% State Grants Pell Grants $32.6B E Tax- 4% 4%- Private and Employer Grants Credits Federal Work-Study 1% Source: The College Board Institutions Federal & State & Employers Government 3 Which schools get the most aid? Percentage of undergraduate students receiving Pell Grants 60% Public 45% Private, Non-profit 30% For-profit 15% 0% 4-year 2-year Less than 2 year Source: IPEDS Student Financial Aid Survey, 2008-09 4 Where to learn more: Learn Online Talk to an Advisor Apply for aid online at fafsa.ed.gov Request aid info at degreesearch.org/financialaid Note: Applying for aid is free. Beware of services charging money for help with your aid application. Note: If you are already enrolled, speak to your school's aid advisors. They can help you navigate the aid application process. This graphic created by DegreeSearch.org