Trends in Student Aid Highlights (2024)

FAQs

Trends in Student Aid Highlights? ›

In 2021-22, state grant aid per FTE undergraduate student ranged from under $200 in six states to over $2,000 in four states. Institutional grant aid: Aid from colleges and universities grew rapidly over the past 10 years, from $57.7 billion (in 2022 dollars) in 2012-13 to $76.9 billion in 2022-23.

Amidst fluctuations in state support and student enrollment, financial aid has steadily increased over the last two decades. From 2022 to 2023, public financial aid increased 2.5%, reaching an all-time high of $1,050 per FTE.

EFC is the most important number on the form. It represents the estimated amount of money that your family can contribute to the cost of your college education. In addition to the federal government, the majority of colleges and universities use your EFC to determine the financial aid package that they will offer you.

Scholarships and grants are the best option as they don't need to be repaid.

College financial aid helps students and their families by covering higher education expenses such as tuition and fees, room and board, books and other coursework supplies, and transportation.

46.2 million borrowers have federal student debt as of the second quarter of fiscal year 2023. That's up from 45.3 million as of the second quarter of fiscal year 2022. 0.65% of student loans are 90 days or more delinquent as of the second quarter of 2024.

Increased Income

This can have an impact on eligibility for need-based aid, as student taxable and untaxable income can reduce aid by up to half of the amount of the distribution.

Commissions do not affect our editors' opinions or evaluations. The amount of college financial aid you'll get depends on a lot of factors, including your school's cost of attendance, your (and potentially your parents') income and assets, your family size and how many of your siblings go to college too.

The largest federal grant program available to undergraduate students is the Federal Pell Grant program. A student must demonstrate financial need to qualify for a Federal Pell Grant. Some federal loan programs are available to all students, and some are based on financial need.

What are the four types of student aid? ›

Get answers to questions about different types of financial aid including grants, scholarships, work-study, and loans, and browse common questions about types of aid.

In 2020-2021, the average grant and scholarship aid awarded was highest at private, nonprofit four-year institutions for students in households earning $30,001-$48,000 per year. 42% of undergraduate students who were awarded aid received federal student loans during the 2021-2022 academic year.

Although the least desirable form of financial aid, student loan programs allow you to borrow money at interest rates that are lower than loans not intended for education.

Second, financial aid may directly affect college attendance and completion rates by reducing liquidity constraints, enabling students to travel farther to better institutions, or decreasing the need to work during college.

Financial aid is money to help pay for college or career school. Grants, work-study, loans, and scholarships help make college or career school affordable.

A prolonged stretch of sinking enrollments, a global pandemic, uncertainties in state funding, a public increasingly skeptical of their value and their own tendencies to overbuild and overspend have left hundreds of colleges facing unsustainable futures.

Overall, student aid per full time equivalent student has also increased in recent years although the trends in aid exhibit more volatility across years (than do the trends in price), sometimes escalating by large increments and sometimes declining or eroding from year to year.

Our Projections Suggest Enrollment Increases up to 2035. Our projections suggest that overall college enrollment in California will increase slightly to 2035 and then begin to decline. This period of slow growth comes after decades of strong increases.

College tuition inflation averaged 3.63% annually from 2010-2011 to 2022-2023. The cost of tuition at public 4-year institutions increased 36.7% from 2010 to 2023. After adjusting for currency inflation, college tuition has increased 197.4% since 1963.