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  Fast Facts



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 first-time,
full-time degree/certificate-seeking undergraduate students.

They are distinct forms of financial aid—loans typically have to be repaid
whereas grants do not. The largest federal grant program available to
undergraduate students is the Pell Grant program. A student must demonstrate
financial need in order to qualify for a Federal Pell Grant. Some federal loan
programs are available to all students and some are based on financial need.
Other sources of financial aid include state and local governments,
institutions, and private sources, as well as private loans. The forms of
financial aid discussed in this indicator are only those provided directly to
students. For example, student loans include only loans for which the student is
the designated borrower; they do not include Direct PLUS Loans1 or other loans
made directly to parents.

At 4-year degree-granting postsecondary institutions overall and across types of
institutional control (i.e., public, private nonprofit, and private for-profit),
the percentages of first-time, full-time degree/certificate-seeking
undergraduate students who were awarded financial aid differed by less than 3
percentage points between academic years 2018–19 and 2010–11. Higher percentages
of students were awarded aid in 2018–19 than in 2010–11 at institutions overall
(86 vs. 85 percent), at public institutions (84 vs. 83 percent), and at private
nonprofit institutions (90 vs. 89 percent).2 In contrast, a lower percentage of
students in 2018–19 than in 2010–11 were awarded aid at private for-profit
institutions (88 vs. 91 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 2010–11, 2014–15, and 2018–19



NOTE: Degree-granting institutions grant associate’s or higher degrees and
participate in Title IV federal financial aid programs. Student financial aid
includes any federal and private loans to students and federal, state/local, and
institutional grants. 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. Although rounded numbers are displayed,
the figures are based on unrounded data.

--------------------------------------------------------------------------------

At 2-year degree-granting postsecondary institutions overall and across types of
institutional control, the percentages of first-time, full-time
degree/certificate-seeking undergraduate students who were awarded financial aid
differed by less than 7 percentage points between academic years 2018–19 and
2010–11. Higher percentages of students were awarded aid in 2018–19 than in
2010–11 at institutions overall (79 vs. 77 percent), at public institutions (77
vs. 74 percent), and at private nonprofit institutions (96 vs. 90 percent). In
contrast, a lower percentage of students in 2018–19 than in 2010–11 were awarded
aid at private for-profit institutions (87 vs. 90 percent).

--------------------------------------------------------------------------------

Percentage of first-time, full-time undergraduate students awarded financial aid
at 2-year degree-granting postsecondary institutions, by control of institution:
Academic years 2010–11, 2014–15, and 2018–19



NOTE: Degree-granting institutions grant associate’s or higher degrees and
participate in Title IV federal financial aid programs. Student financial aid
includes any federal and private loans to students and federal, state/local, and
institutional grants. 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. Although rounded numbers are displayed,
the figures are based on unrounded data.

--------------------------------------------------------------------------------

1 Parent PLUS Loans are taken out by parents of dependent students and are used
toward the students’ undergraduate education. Parent PLUS Loans were available
through both the William D. Ford Federal Direct Loan Program and the Federal
Family Education Loan Program (FFELP) until FFELP was discontinued in 2010.
Since then, Parent PLUS Loans have been referred to as Direct PLUS Loans.

2 Student financial aid includes any federal and private loans to students and
federal, state/local, and institutional grants.

SOURCE: U.S. Department of Education, National Center for Education Statistics.
(2021). The Condition of Education 2021 (NCES 2021-144), Sources of Financial
Aid.



Related Tables and Figures:  (Listed by Release Date)

 * 2021, Digest of Education Statistics 2020, Table 331.20. Full-time,
   first-time degree/certificate-seeking undergrad students enrolled in
   degree-granting postsec. insts, by participation & avg. amount awarded in
   financial aid prgrms, and ctrl. and lvl. of inst: 2000–01 through 2018–19
   
 * 2021, Digest of Education Statistics 2020, Table 331.30. Average amount of
   grant and scholarship aid and avg. net price for first-time, full-time
   degree/certificate-seeking students awarded Title IV aid, by ctrl. and lvl.
   of institution and income level: Selected years, 2009–10 through 2018–19
   
 * 2021, Digest of Education Statistics 2020, Table 331.95. % of undergrad.
   degree/certificate completers who ever received loans and avg. cumulative
   amount borrowed, by degree lvl., selected student characteristics, and
   institution ctrl.: Selected years, 1999–2000 through 2015–16
   
 * 2021, The Condition of Education 2021: Loans for Undergraduate Students
   
 * 2020, Digest of Education Statistics 2019, Table 331.45. Average amount of
   financial aid awarded to part-time or part-year undergraduates, by type and
   source of aid and selected student characteristics: 2015–16
   
 * 2020, Digest of Education Statistics 2019, Table 331.90. Percentage of
   full-time and part-time undergraduates receiving federal aid, by aid program
   and control and level of institution: 2011–12 and 2015–16
   

Other Resources:  (Listed by Release Date)

 * 2021, 2019–20 National Postsecondary Student Aid Study (NPSAS:20): First Look
   at the Impact of the Coronavirus (COVID-19) Pandemic on Undergraduate Student
   Enrollment, Housing, and Finances (Preliminary Data)
   
 * 2021, National Postsecondary Student Aid Study (NPSAS): NPSAS examines the
   characteristics of students in postsecondary education, with special focus on
   how they finance their education.
   
 * 2021, The Integrated Postsecondary Education Data System (IPEDS): IPEDS is a
   system of surveys designed to collect data from all primary providers of
   postsecondary education.
   
 * 2019, Profile and Financial Aid Estimates of Graduate Students: 2015–16
   
 * 2019, Student Financing of Undergraduate Education in 2015–16: Financial Aid
   by Type and Source
   
 * 2019, Student Financing of Undergraduate Education in 2015–16: Students’ Net
   Price, Expected Family Contribution, and Financial Need
   
 * 2019, Trends in Pell Grant Receipt and the Characteristics of Pell Grant
   Recipients: Selected Years, 2003–04 to 2015–16
   
 * 2019, Trends in Undergraduate Nonfederal Grant and Scholarship Aid by
   Demographic and Enrollment Characteristics: Selected Years, 2003–04 to
   2015–16
   
 * 2018, 2015–16 National Postsecondary Student Aid Study (NPSAS:16): Student
   Financial Aid Estimates for 2015–16
   
 * 2018, Graduation Rates for Selected Cohorts, 2009–14; Outcome Measures for
   Cohort Year 2009–10; Student Financial Aid, Academic Year 2016–17; and
   Admissions in Postsecondary Institutions, Fall 2017: First Look (Provisional
   data)
   
 * 2018, Trends in Free Application for Federal Student Aid (FAFSA) Submissions
   


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