Financial Aid Statistics for the 2007-2008 School Year
November 3, 2009 11:55 am ReferenceThe National Center for Education Statistics has this information, for a big picture view. For the 2007-2008 school year:
66% of all undergraduates received some type of Financial Aid in 2007-2008 For those who received any aid, the total average amount received was $9,100 52% received grants averaging $4,900 (grants typically do not have to be repaid) 16% received an average of $2,500 in state-funded grants 20% received an average of $5,000 in grants from their school 7% received aid through work-study jobs averaging $2,400 in wages 2% received an average of $5,400 in veterans’ benefits 38% took out an average of $7,100 in student loans The U.S. Department of Education provides around $100 billion a year or so in government student aid for college, according to the Student Aid on the
Web site. For the 2007-2008 school year, federal financial aid statistics included:
47% of all undergraduates received federal student aid For those who received federal aid, the average amount was $6,600 Federal Pell Grants were awarded to 27% of all undergraduates at an average of $2,600 34% of all undergraduates took out federal Stafford loans averaging a total of $5,000 30% took out Subsidized Stafford loans averaging $3,400 22% took out Unsubsidized Stafford loans averaging $3,200 4% had parents who took out an average of $10,800 in Parent PLUS loans (Parent PLUS loans are for parents of dependent students.)