New Stats: More Than 11 Million College Students Receive Financial Aid
New Report, Financing the Future: 2001-2002
About 11.2 million college students, or more than half, received some form of financial aid from outside their families to help pay for their education, according to tabulations released today by the U.S. Census Bureau.
These tabulations, Financing the Future: 2001-2002, provide information on the characteristics of postsecondary students and the costs and financing associated with their schooling during the 2001-2002 academic year. Data are presented on types of costs, patterns of financial aid received, the extent to which the aid covers costs and the characteristics of the institutions attended -- all shown by students? demographic and socioeconomic characteristics. Some tables also illustrate how much the
receipt of aid and coverage of costs vary by institutional characteristics.
This report, based on data from the 2003-04 National Postsecondary Student Aid Study (NPSAS:04), provides detailed information about undergraduate tuition and total price of attendance at various types of institutions, the percentage of students receiving various types of financial aid, and the average amounts that they received. In 2003-04, three-quarters of all full-time undergraduates received some type of financial aid ($9,900 average). One-half took out student loans ($6,200 average), and 62 percent received grants ($5,600 average). Forty percent received both grants and loans (combined average $13,600). The average tuition and fees for full-time undergraduates in 2003-04 were $2,000 at public 2-year, $5,400 at public 4-year, and $18,400 at private not-for-profit 4-year institutions. About one-fourth of full-time undergraduates did not pay any tuition, because the entire tuition amount was covered by grants.
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