Do you have any statistics on financial aid for postsecondary undergraduates?

Sixty-six percent of all undergraduates received some type of financial aid in 2007–08. For those who received any aid, the total average amount received was $9,100. Fifty-two percent received grants averaging $4,900, and 38 percent took out an average of $7,100 in student loans. Seven percent received aid through workstudy jobs averaging $2,400 in wages, 2 percent received an average of $5,400 in veterans’ benefits, and 4 percent of students had parents who took out an average of $10,800 in Parent PLUS loans. Parent PLUS loans are included in total aid but are not included in student loans because they are loans for parents of dependent students.

Forty-seven percent of all undergraduates received federal student aid in 2007–08, the average amount of which was $6,600. Sixteen percent received an average of $2,500 in state-funded grants and 20 percent received an average of $5,000 in grants funded by the postsecondary institution they attended.

In 2007–08, federal Pell Grants were awarded to 27 percent of all undergraduates at an average of $2,600, and 34 percent of all undergraduates took out federal Stafford loans averaging a total of $5,000. Subsidized Stafford loans were received by 30 percent of undergraduates and averaged $3,400, while 22 percent received an average of $3,200 in unsubsidized Stafford loans.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2009). 2007–08 National Postsecondary Student Aid Study (NPSAS:08) Student Financial Aid Estimates for 2007–08, Selected Findings .

Percentage of undergraduates receiving financial aid and the average amount received, by type and source of aid and selected student characteristics: 2007–08
Student characteristic	Any aid	Any grants	Any student loans	Work study	Veterans benefits	Parent PLUS loans1		Federal
							Any financial aid	Any grants	Any loans	Work study
All undergraduates	65.6	51.7	38.5	7.4	2.1	3.8	47.0	27.6	34.7	5.6
Full-time/full-year	79.5	64.4	52.9	13.5	2.0	7.2	62.2	33.0	49.1	10.3
Dependent	77.1	62.1	49.4	15.3	0.7	9.6	57.5	25.1	45.5	11.6
Independent	86.9	71.7	63.8	7.6	6.1	†	76.9	57.9	60.3	6.1
Part-time or part-year	56.6	43.5	29.2	3.5	2.2	1.5	37.1	24.0	25.3	2.7
Average amount of financial aid
	All undergraduates	$9,100	$4,900	$7,100	$2,400	$5,400	$10,800	$6,600	$2,800	$5,100	$2,300
	Full-time/full-year	12,700	7,100	8,000	2,300	6,600	11,400	7,900	3,700	5,400	2,200
Dependent	13,100	7,800	7.600	2,200	4,700	11,400	7,700	3,700	4,800	2,100
Independent	11,700	5,200	8,900	2,500	7,300	†	8,400	3,600	7,000	2,400
	Part-time or part-year	5,800	2,700	6,100	2,700	4,600	8,700	5,100	2,100	4,700	2,800

† Not applicable.
 
¹ Not included in “Any student loans” because these are loans that are taken out by the parents of undergraduate students.

NOTE: “Any aid” includes all types of financial aid from any source except parents, friends, or relatives. Parent Loans for Undergraduate Students (PLUS) are also included in “Any aid” but are excluded from “Any student loans.” “Any grants” include grants, scholarships, or tuition waivers from federal, state, institutional, or private sources, including employers. “Any student loans” include federal, state, institutional, and private (alternative) loans. Veterans benefits include benefits to dependents. Students may receive more than one type of aid. Full-time/full-year students were enrolled full time for 9 or more months from July 1, 2007 to June 30, 2008. Independent students are age 24 or over and students under age 24 who are married, have dependents, are veterans, are orphans or wards of the court, or were determined to be independent by a financial aid officer using professional judgment. Other undergraduates under age 24 are considered to be dependent.
 
SOURCE: U.S. Department of Education, National Center for Education Statistics. (2009). 2007–08 National Postsecondary Student Aid Study (NPSAS:08) Student Financial Aid Estimates for 2007–08, Table 1, Table 2, Table 3, and Table 4.

Related Tables and Figures:  (Listed by Release Date)

• 2009, Digest of Education Statistics 2008, Table 337. Average amount of financial aid awarded to full-time, full-year undergraduates, by type and source of aid and selected student characteristics: 2003-04
• 2009, Digest of Education Statistics 2008, Table 338. Average amount of financial aid awarded to part-time or part-year undergraduates, by type and source of aid and selected student characteristics: 2003-04
• 2009, Digest of Education Statistics 2008, Table 339. Amount borrowed, aid status, and sources of aid for full-time and part-time undergraduates, by control and type of institution: 2003-04
• 2009, Digest of Education Statistics 2008, Table 340. Percentage of full-time, full-year undergraduates receiving aid, by type and source of aid and control and type of institution: Selected years, 1992-93 through 2003-04
• 2009, Digest of Education Statistics 2008, Table 341. Average amount of financial aid awarded to full-time, full-year undergraduates, by type and source of aid and control and type of institution: Selected years: 1992—1993 through 2003—04
• 2009, Digest of Education Statistics 2008, Table 342. Percentage of part-time or part-year undergraduates receiving aid, by type and source of aid received and control and type of institution: Selected years, 1992-93 through 2003-04
• 2009, Digest of Education Statistics 2008, Table 343. Percentage of full-time and part-time undergraduates receiving aid, by federal aid program and control and type of institution: 2003-04
• 2007, The Condition of Education 2007: Federal Grants and Loans to Undergraduate Students
• 2004, The Condition of Education 2004: Debt Burden of College Graduates
• 2004, The Condition of Education 2004: Institutional Aid at 4-Year Colleges and Universities

Other Resources:  (Listed by Release Date)

• 2009, Enrollment in Postsecondary Institutions, Fall 2007; Graduation Rates, 2001 & 2004 Cohorts; and Financial Statistics, Fiscal Year 2007
• 2008, Trends in Undergraduate Borrowing II: Federal Student Loans in 1995-96, 1999-2000, and 2003-04
• 2006, 2003-04 National Postsecondary Student Aid Study (NPSAS:04) Undergrarduate Financial Aid Estimates for 12 States: 2003-04
• 2006, Student Financing of Graduate and First-Professional Education, 2003-04: Profiles of Students in Selected Degree Programs and Their Use of Assistantships
• 2006, Student Financing of Undergraduate Education: 2003-04, With a Special Analysis of the Net Price of Attendance and Federal Education Tax Benefits
• 2005, 2003-04 National Postsecondary Student Aid Study (NPSAS:04) Undergraduate Financial Aid Estimates for 2003-04 by Type of Institution
• 2005, Changes in Patterns of Prices and Financial Aid
• 2004, A Decade of Undergraduate Student Aid: 1989-90 to 1999-2000
• 2004, Federal Support for Education: Fiscal Years 1980 to 2003
• 2004, Paying for College: Changes Between 1990 and 2000 for Full-Time Dependent Undergraduates
• 2003, What Colleges Contribute: Institutional Aid to Full-Time Undergraduates Attending 4-Year Colleges and Universities
• 2002, What Students Pay for College: Changes in Net Price of College Attendance Between 1992-93 and 1999-2000
• 2001, Middle Income Undergraduates: Where They Enroll and How They Pay for Their Education
• 2001, Undergraduates Enrolled With Higher Sticker Prices
• 2000, Low-Income Students: Who They Are and How They Pay for Their Education