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Student Financial Aid Statistics
Different forms of financial aid for students are provided by schools, governments, and private organizations in the form of bursaries, grants, loans, or discounts.
- 83. 8% of first-time, first-year undergraduate students receive financial aid in some form
- On average, each student borrows $11,836 annually to pay for their education.
- For a bachelor’s degree, public university students borrow, on average, $30,030 each.
- Each student’s total borrowing has increased by 1 each year. 961%.
- Parents accept an average of $12,535 when borrowing money for their kids.
- The percentage of students receiving financial aid has increased 18. 8% over 20 years, or an annual rate of 0. 9%.
- Spending on state student financial aid per full-time student increases by 6 percent annually. 295%.
- According to statistics on federal student financial aid, spending grows at a rate of 4 percent per year. 211%.
Types of Student Financial Aid
Programs are available from the federal, state, and local governments to help defray the cost of a college education. Institutional scholarships, grants, work-study programs, as well as student loans from credit unions and other private lenders, are all forms of private financial aid for students.
- The two types of financial aid that are most frequently used are student loans and grants.
- Former foster children can apply for financial aid through state agencies; some states even offer full tuition waivers.
- Low-interest and no-interest educational loans are among the student financial aid options available to military families; these financial aid options are provided by both the federal government and private organizations.
- Although they do not ensure employment for every eligible student, work-study programs connect students with job placement opportunities.
- Private student loans are typically provided by the student’s place of study.
- Scholarships are not uncommon among well-established private clubs and organizations.
- For-profit businesses sometimes offer scholarships as a promotion.
- Some businesses specialize in student financial aid via loans.
Most federal financial aid is need-based. Numerous federal agencies offer grants, loans, work-study programs, and other benefits related to education.
- 66% of students apply for federal financial aid using the Federal Application for Student Financial Aid (FAFSA)
- Federal work-study students who are eligible make an average of $1,794 a year.
- 18% of students earn an income through work-study.
- For specific savings programs, the Internal Revenue Service provides educational tax benefits in the form of deductions and exemptions.
- The Department of Veterans Affairs offers financial aid to students, including scholarships and the Yellow Ribbon Program, which is intended to pay for educational expenses not covered by the GI Bill benefits.
Money that recipients do not have to repay is referred to as grants and scholarships. Most federal grants are need-based.
- On average, each student receives $5,179 in federal grants each year.
- The federal government is most likely to award grants to students attending private, for-profit colleges, with 62% of students at these institutions receiving federal grants
- In total, the federal government distributes $29. 6 billion in grant money among 42. 6% of college students nationwide.
- Federal Pell Grant recipients who are undergraduates may receive between $639 and $6,345 each; the typical award is $3,900.
- 6.8 million college students receive Federal Pell Grants.
- Formula grants from the U. S. Department of Education (ED) have no application process.
- If a parent or guardian died as a result of military service in Iraq or Afghanistan after September 11, 2001, students from military families may be eligible for the Iraq and Afghanistan Service Grant.
- The ED budgets $29. 6 billion annually for Pell Grants and $39. 5 million for TEACH grants.
- For all grants, the ED budgets $31.7 billion.
The Federal Work-Study Program (FWS) gives money directly to organizations to manage work-study on campuses. There are few jobs available, and students cannot work more than 20 hours per week.
- The average work-study student earns $1,847 in one academic year.
- 18% of all students participate in FWS.
- 5.2% of undergraduates participate in work-study.
- 10.5% of full-time undergraduates participate in work-study.
- 43% of full-time students are employed while in school.
- Among those students, 23% work more than 35 hours per week
- 81% of part-time students are employed while taking classes.
- 58% of those students work more than 35 hours per week
The most common type of loan taken out by students is a federal student loan.
- The average federal loan amount is $8,285.
- For those pursuing a bachelor’s degree at public institutions, the average total loan amount is $28,600.
- For students seeking bachelor’s degrees at private, for-profit institutions, the average total loan amount is $33,900; for those at for-profit institutions, it is $43,900.
- The average total loan for associate’s degree candidates at public institutions is $16,600.
- The average sum for students attending private nonprofit schools is $26,400; for those attending private for-profit schools, it is $28,100.
- The average amount of student financial aid received by certificate seekers at public institutions is $17,400.
- Students at private, for-profit institutions receive loans totaling, on average, $15,800, while certificate seekers at private, nonprofit institutions accept loans totaling, on average, $18,200.
- For federal loans disbursed during the 2020–2021 academic year, the interest rate is 2. 75%.
- 30% of students use federal student loans.
- Among 15- to 23-year-old undergraduate students, 40.5% use student loans.
- The federal government loans an annual total of $45. 3 billion to 44. 4% of all postsecondary students (including graduate and professional students).
- 13% of parents borrow money from the federal government on behalf of their college-bound children
- Parental Federal PLUS loans have a higher interest rate than student Federal PLUS loans.
- For federal direct student loans, the ED has allocated $77 billion, and $13 3 billion for FFEL loans.
- The ED budgets $90. 2 billion for all loan programs, leaving $44. 9 billion leftover after distribution to students.
State and Local Aid
States provide financial aid to encourage students to attend local or in-state colleges.
- States invest an average of $1,051 in financial aid for each full-time student.
- At $3,266 South Carolina spends the most per full-time student.
- Montana spends the least at $38.53 per full-time student.
- Every grant recipient receives an average of $11,813 in grants from the states.
- States are most likely to award grants to public university students, with 38% of students receiving state grants
- 25% of students at private, nonprofit schools receive state and local grants, while 9% of students at for-profit schools receive such aid
- California awards the largest total amount, dispersing $2. 2 billion among college students.
- Montana awards the smallest total amount, dispersing $1. 3 million among college students.
- In total, states award $14. 2 billion to 33. 6% of the national student population.
| State | Need-Based Grants | Total Student Aid |
|---|---|---|
| California | $2.23B | $2.23B |
| Texas | $1.02B | $1.20B |
| New York | $895.6M | $1.16B |
| Florida | $293.3M | $1.01B |
| Georgia | – | $888.4M |
| Virginia | $493.8M | $844.0M |
| New Jersey | $478.5M | $637.0M |
| Tennessee | $110.0M | $454.3M |
| South Carolina | $71.6M | $421.3M |
| Pennsylvania | $389.5M | $416.2M |
| Washington | $373.3M | $403.7M |
| Illinois | $392.3M | $397.8M |
| North Carolina | $313.7M | $391.5M |
| Indiana | $326.6M | $373.0M |
| Louisiana | $28.4M | $331.8M |
| Minnesota | $218.5M | $302.4M |
| Kentucky | $116.8M | $258.1M |
| Colorado | $142.6M | $185.8M |
| Utah | $2.1M | $178.9M |
| Oregon | $92.8M | $175.5M |
| Connecticut | $33.6M | $148.7M |
| Massachusetts | $100.1M | $146M |
| Ohio | $94.3M | $136.4M |
| Wisconsin | $122.3M | $135.1M |
| Missouri | $68.3M | $128.9M |
| West Virginia | $41.4M | $123.5M |
| Michigan | $120.5M | $121.6M |
| Arkansas | $2M | $115.5M |
| Oklahoma | $88.2M | $108.8M |
| Maryland | $102.1M | $108.2M |
| New Mexico | $19.3M | $88.8M |
| Alabama | $72.4M | $80.3M |
| Nevada | $13.4M | $72.4M |
| Iowa | $56.4M | $62.6M |
| Mississippi | $23.9M | $42.2M |
| Washington, DC | $831,770 | $32.4M |
| Arizona | $28.2 | $28.6M |
| Alaska | $5.9M | $27.3M |
| Delaware | $14.1M | $24.2M |
| Kansas | $17.7M | $22.4M |
| Vermont | $20.8M | $21.5M |
| North Dakota | $9.7M | $21.2M |
| Nebraska | $19M | $21.1M |
| Wyoming | $18.1M | $18.1M |
| Maine | $15M | $17.5M |
| Idaho | $14M | $15.5M |
| Rhode Island | $10M | $10M |
| South Dakota | $203,290 | $7.1M |
| Hawaii | $4.6M | $5.6M |
| New Hampshire | $3M | $4.9M |
| Montana | $458,160 | $1.3M |
In general, numerous scholarships are given out by private, nonprofit academic institutions to help defray the rising cost of attendance. Columbia College, where the cost of attendance is $80. Clearly stating that “Students are expected to borrow $0 to attend Columbia,” 339 per year Additionally, non-academic institutions provide marketing scholarships or unique low-interest student loans.
- 50% of public university students receive private grants.
- 83% of students at private, non-profit 4-year institutions receive institutional grants
- Academic institutions disperse a total of $76 billion among 46. 6% of the undergraduate student population.
- 13% of students use student loans from private sources, such as banks or credit unions
- 58% of students receive scholarships, with an average award of $7,923 each
- Private companies that focus on lending money to students for their education may provide interest rates as low as 1. 24%.
Every level of education and set of circumstances can receive student financial aid, but not everyone uses it in the same way. For instance, the likelihood that a student will borrow money decreases with age, and more White or Caucasian students receive financial aid than students of all other races and ethnicities combined.
- Financial aid is accepted by 12 million more part-time students than full-time students (7 million).
- A higher percentage of full-time students (86. 4%) accept financial aid than part-time students (63. 6%).
- 78. 8% of aid recipients are under 30 years old; 37. 8% of recipients are enrolled full-time.
- Financial aid recipients are 40. 0% more likely to be women than men.
- At 75%, students who are separated from their spouses are the most likely to accept aid than students who are married (64 7%) or students who are unmarried (73. 5%).
- With an 80% acceptance rate, Black college students are the most likely to receive financial aid
- Asian students are the least likely to accept student financial aid, with an acceptance rate of 62%
Student Financial Aid by State
Some states invest more in higher education than others, whether in terms of dollars or a percentage of their gross domestic product. Additionally, federal aid differs by state, with a higher proportion of one student population receiving aid.
- In terms of a percentage of its GDP, Wyoming spends the most on student financial aid at 0. 9%.
- In terms of indirect student financial aid, Wyoming also spends the most, with each student receiving $16,340 for higher education.
- When compared to other states, New Hampshire spends 0 percent of its GDP. 15%.
- Tennessee spends the most per undergraduate student at $2,252.
- Montana spends the least, at $36.
Student Financial Aid in Alabama
With $80 spent on student financial aid, Alabama comes in 32nd place overall. 3 million.
- Alabama spends $453 on average per undergraduate student, which equals zero. 72% of its domestic product.
- 36.7% of undergraduates receive federal student loans.
- 12. 9% of undergraduates at 2-year institutions receive loans in the average amount of $5,162 each
- 47. 3% of undergraduates at 4-year institutions receive loans in the average amount of $7,174 each
Student Financial Aid in Alaska
Alaska ranks 38th in total financial aid dollars, spending $27. 3 million.
- Alaska spends, on average, $705 on each undergraduate student. 64% of its domestic product.
- 22.4% of undergraduates receive federal student loans.
- 68. 4% of undergraduates at 2-year institutions receive loans in the average amount of $6,426 each
- 21. 1% of undergraduates at 4-year institutions receive loans in the average amount of $6,585 each
Student Financial Aid in Arizona
Arizona ranks 37th in total financial aid dollars, spending $28. 6 million.
- Arizona spends, on average, $76 on each undergraduate student. 22% of its domestic product.
- 35.2% of undergraduates receive federal student loans.
- 11. 9% of undergraduates at 2-year institutions receive loans in the average amount of $4,685 each
- 49. 4% of undergraduates at 4-year institutions receive loans in the average amount of $7,650 each
Student Financial Aid in Arkansas
Arkansas ranks 28th in total financial aid dollars, spending $115. 5 million.
- Each undergraduate student in Arkansas receives an average of $1,171 in state funding, or $0 69% of its domestic product.
- 37.3% of undergraduates receive federal student loans.
- 19. 4% of undergraduates at 2-year institutions receive loans in the average amount of $4,815 each
- 45% of undergraduates at 4-year institutions receive loans in the average amount of $6,896 each
Student Financial Aid in California
California ranks 1st in total financial aid dollars, spending $2. 23 billion.
- California spends 0 or an average of $1,751 on each undergraduate student. 48% of its domestic product.
- 16.5% of undergraduates receive federal student loans.
- 3. 5% of undergraduates at 2-year institutions receive loans in the average amount of $6,702 each
- 29. 2% of undergraduates at 4-year institutions receive loans in the average amount of $6,610 each
Student Financial Aid in Colorado
Colorado ranks 18th in total financial aid dollars, spending $185. 8 million.
- Each undergraduate student in Colorado receives an average of $540 in state funding, or $0. 24% of its domestic product.
- 34.3% of undergraduates receive federal student loans.
- 31. 5% of undergraduates at 2-year institutions receive loans in the average amount of $5,722 each
- 35. 4% of undergraduates at 4-year institutions receive loans in the average amount of $6,819 each
Student Financial Aid in Connecticut
Connecticut ranks 21st in total financial aid dollars, spending $148. 7 million.
- Each undergraduate student in Connecticut receives an average of $321 in state funding, or $0. 39% of its domestic product.
- 40.3% of undergraduates receive federal student loans.
- 8. 9% of undergraduates at 2-year institutions receive loans in the average amount of $6,226 each
- 52. 3% of undergraduates at 4-year institutions receive loans in the average amount of $7,599 each
Student Financial Aid in Delaware
Delaware ranks 39th in total financial aid dollars, spending $24. 2 million.
- Each undergraduate student in Delaware receives an average of $413 in state funding, or $0. 32% of its domestic product.
- 42.8% of undergraduates receive federal student loans.
- 66. 1% of undergraduates at 2-year institutions receive loans in the average amount of $6,263 each
- 42. 3% of undergraduates at 4-year institutions receive loans in the average amount of $6,283 each
Student Financial Aid in District of Columbia
The District of Columbia, which spent $32 on student financial aid, is ranked 36th overall. 4 million.
- Each undergraduate student in the District of Columbia receives an average of $618 in funding, or 0. 06% of its domestic product.
- 41.5% of undergraduates receive federal student loans.
- 75. 8% of undergraduates at 2-year institutions receive loans in the average amount of $7,094 each
- 41. 1% of undergraduates at 4-year institutions receive loans in the average amount of $7,074 each
Student Financial Aid in Florida
Florida ranks 4th in total financial aid dollars, spending $1. 01 billion.
- Each undergraduate student in Florida receives an average of $440 in state funding, or $0. 39% of its domestic product.
- 30.4% of undergraduates receive federal student loans.
- 43. 6% of undergraduates at 2-year institutions receive loans in the average amount of $6,807 each
- 28. 2% of undergraduates at 4-year institutions receive loans in the average amount of $6,999 each
Student Financial Aid in Georgia
Georgia ranks 5th in total financial aid dollars, spending $888. 4 million.
- Each undergraduate student in Georgia receives an average of $2,160 in state funding, or $0. 45% of its domestic product.
- 38.3% of undergraduates receive federal student loans.
- 16. 9% of undergraduates at 2-year institutions receive loans in the average amount of $5,962 each
- 45. 7% of undergraduates at 4-year institutions receive loans in the average amount of $6,575 each
Student Financial Aid in Hawaii
Hawaii ranks 50th in total financial aid dollars, spending $5. 6 million.
- Hawaii spends $102 on average per undergraduate student, or zero. 78% of its domestic product.
- 19.4% of undergraduates receive federal student loans.
- 7. 4% of undergraduates at 2-year institutions receive loans in the average amount of $5,916 each
- 28. 9% of undergraduates at 4-year institutions receive loans in the average amount of $6,575 each
Student Financial Aid in Idaho
With $15 spent on student financial aid, Idaho is 46th out of 50 states. 5 million.
- Each undergraduate student in Idaho receives an average of $101 in state funding, or $0. 60% of its domestic product.
- 27.3% of undergraduates receive federal student loans.
- 30. 1% of undergraduates at 2-year institutions receive loans in the average amount of $4,522 each
- 26. 2% of undergraduates at 4-year institutions receive loans in the average amount of $6,826 each
Student Financial Aid in Illinois
With $397 spent on student financial aid, Illinois is ranked 12th overall. 8 million.
- Illinois spends, on average, $1,131 on each undergraduate student. 48% of its domestic product.
- 31.4% of undergraduates receive federal student loans.
- 8. 7% of undergraduates at 2-year institutions receive loans in the average amount of $4,952 each
- 52. 7% of undergraduates at 4-year institutions receive loans in the average amount of $6,931 each
Student Financial Aid in Indiana
With $373 million spent on financial aid, Indiana is ranked 14th overall.
- Indiana spends, on average, $1,165 on each undergraduate student. 48% of its domestic product.
- 37.7% of undergraduates receive federal student loans.
- 20. 8% of undergraduates at 2-year institutions receive loans in the average amount of $4,666 each
- 41. 9% of undergraduates at 4-year institutions receive loans in the average amount of $6,538 each
Student Financial Aid in Iowa
Iowa ranks 34th in total financial aid dollars, spending $62. 6 million.
- Each undergraduate student in Iowa receives an average of $495 in state funding, or 0 42% of its domestic product.
- 41.5% of undergraduates receive federal student loans.
- 27. 8% of undergraduates at 2-year institutions receive loans in the average amount of $5,506 each
- 53. 6% of undergraduates at 4-year institutions receive loans in the average amount of $6,635 each
Student Financial Aid in Kansas
Kansas is 40th in terms of total financial aid for students, spending $22. 4 million.
- Kansas spends, on average, $163 on each undergraduate student. 45% of its domestic product.
- 34.5% of undergraduates receive federal student loans.
- 18. 3% of undergraduates at 2-year institutions receive loans in the average amount of $5,515 each
- 46. 6% of undergraduates at 4-year institutions receive loans in the average amount of $6,862 each
Student Financial Aid in Kentucky
Kentucky ranks 17th in total financial aid dollars, spending $258. 1 million.
- Each undergraduate student in Kentucky costs the state $1,615 on average, or $0. 44% of its domestic product.
- 37.2% of undergraduates receive federal student loans.
- 20. 3% of undergraduates at 2-year institutions receive loans in the average amount of $5,324 each
- 46. 7% of undergraduates at 4-year institutions receive loans in the average amount of $6,770 each
Student Financial Aid in Louisiana
Louisiana ranks 15th in total financial aid dollars, spending $331. 8 million.
- Each undergraduate student in Louisiana receives an average of $1,632 in state funding, or 0 45% of its domestic product.
- 44.4% of undergraduates receive federal student loans.
- 41. 2% of undergraduates at 2-year institutions receive loans in the average amount of $6,148 each
- 44. 6% of undergraduates at 4-year institutions receive loans in the average amount of $6,821 each
Student Financial Aid in Maine
Maine spends $17 on student financial aid, which places it in the 45th place overall. 5 million.
- Each undergraduate student in Maine receives an average of $417 in state funding, or $0. 46% of its domestic product.
- 42.8% of undergraduates receive federal student loans.
- 27. 7% of undergraduates at 2-year institutions receive loans in the average amount of $5,241 each
- 48% of undergraduates at 4-year institutions receive loans in the average amount of $6,456 each
Student Financial Aid in Maryland
Maryland ranks 30th in total financial aid dollars, spending $108. 2 million.
- Each undergraduate student in Maryland receives an average of $548 in state funding, or $0. 48% of its domestic product.
- 29.2% of undergraduates receive federal student loans.
- 13. 4% of undergraduates at 2-year institutions receive loans in the average amount of $5,752 each
- 38. 4% of undergraduates at 4-year institutions receive loans in the average amount of $6,974 each
Student Financial Aid in Massachusetts
Massachusetts spends $146 million on financial aid, ranking 22nd overall.
- Massachusetts spends $342 on average per undergraduate student, which equals zero. 28% of its domestic product.
- 43% of undergraduates receive federal student loans.
- 20. 2% of undergraduates at 2-year institutions receive loans in the average amount of $4,653 each
- 49. 9% of undergraduates at 4-year institutions receive loans in the average amount of $6,678 each
Student Financial Aid in Michigan
Michigan ranks 27th in total financial aid dollars, spending $121. 6 million.
- Each undergraduate student in Michigan receives an average of $334 in state funding, or 0 36% of its domestic product.
- 38.9% of undergraduates receive federal student loans.
- 17. 9% of undergraduates at 2-year institutions receive loans in the average amount of $4,715 each
- 47. 8% of undergraduates at 4-year institutions receive loans in the average amount of $6,831 each
Student Financial Aid in Minnesota
Minnesota ranks 16th in total financial aid dollars, spending $302. 4 million.
- Each undergraduate student in Minnesota receives an average of $1,086 in state funding, or 0 45% of its domestic product.
- 40.9% of undergraduates receive federal student loans.
- 27% of undergraduates at 2-year institutions receive loans in the average amount of $6,226 each
- 50. 1% of undergraduates at 4-year institutions receive loans in the average amount of $6,936 each
Student Financial Aid in Mississippi
Mississippi ranks 35th in total financial aid dollars, spending $42. 2 million.
- Mississippi spends, on average, $463 on each undergraduate student. 79% of its domestic product.
- 37.4% of undergraduates receive federal student loans.
- 20. 3% of undergraduates at 2-year institutions receive loans in the average amount of $4,668 each
- 51. 8% of undergraduates at 4-year institutions receive loans in the average amount of $7,671 each
Student Financial Aid in Missouri
Missouri ranks 25th in total financial aid dollars, spending $128. 9 million.
- Each undergraduate student in Missouri receives an average of $594 in state funding, or $0. 29% of its domestic product.
- 36.7% of undergraduates receive federal student loans.
- 19. 1% of undergraduates at 2-year institutions receive loans in the average amount of $4,086 each
- 43. 5% of undergraduates at 4-year institutions receive loans in the average amount of $6,938 each
Student Financial Aid in Montana
Montana ranks 52nd in total financial aid dollars, spending $1. 3 million.
- Each undergraduate student in Montana receives an average of $36 in state funding, or $0. 49% of its domestic product.
- 39.5% of undergraduates receive federal student loans.
- 24. 7% of undergraduates at 2-year institutions receive loans in the average amount of $5,920 each
- 42. 9% of undergraduates at 4-year institutions receive loans in the average amount of $6,739 each
Student Financial Aid in Nebraska
Nebraska ranks 43rd in total financial aid dollars, spending $21. 1 million.
- Each undergraduate student in Nebraska receives an average of $286 in state funding, or $0. 58% of its domestic product.
- 36.7% of undergraduates receive federal student loans.
- 22. 8% of undergraduates at 2-year institutions receive loans in the average amount of $3,862 each
- 45. 1% of undergraduates at 4-year institutions receive loans in the average amount of $6,624 each
Student Financial Aid in Nevada
Nevada ranks 33rd in total financial aid dollars, spending $72. 4 million.
- Each undergraduate student in Nevada receives an average of $462 in state funding, or $0. 38% of its domestic product.
- 25.5% of undergraduates receive federal student loans.
- 62. 2% of undergraduates at 2-year institutions receive loans in the average amount of $6,816 each
- 21. 9% of undergraduates at 4-year institutions receive loans in the average amount of $6,850 each
Student Financial Aid in New Hampshire
With $4 spent in total on financial aid, New Hampshire is ranked 51st. 9 million.
- The State of New Hampshire spends 0. 15% of its domestic product on student financial aid.
- 63.9% of undergraduates receive federal student loans.
- 42. 8% of undergraduates at 2-year institutions receive loans in the average amount of $5,917 each
- 66. 1% of undergraduates at 4-year institutions receive loans in the average amount of $7,173 each
Student Financial Aid in New Jersey
With $637 million spent on financial aid, New Jersey is ranked seventh overall.
- Each undergraduate student in New Jersey receives an average of $2,038 in state funding. 33% of its domestic product.
- 37% of undergraduates receive federal student loans.
- 16. 2% of undergraduates at 2-year institutions receive loans in the average amount of $6,022 each
- 50. 4% of undergraduates at 4-year institutions receive loans in the average amount of $7,385 each
Student Financial Aid in New Mexico
With 88 dollars spent on financial aid, New Mexico is in the 31st place overall. 8 million.
- Each undergraduate student in New Mexico receives an average of $2,242 in state funding, or $0. 78% of its domestic product.
- 19.5% of undergraduates receive federal student loans.
- 9. 2% of undergraduates at 2-year institutions receive loans in the average amount of $4,672 each
- 32. 4% of undergraduates at 4-year institutions receive loans in the average amount of $6,700 each
Student Financial Aid in New York
With $1 spent on student financial aid, New York is third in the country. 16 billion.
- The average amount the State of New York spends on undergraduate students is $1,371, or 0. 35% of its domestic product.
- 33.2% of undergraduates receive federal student loans.
- 17. 2% of undergraduates at 2-year institutions receive loans in the average amount of $5,470 each
- 39. 2% of undergraduates at 4-year institutions receive loans in the average amount of $6,611 each
Student Financial Aid in North Carolina
With $391 spent on student financial aid, North Carolina comes in at number 13. 5 million.
- Each undergraduate student in North Carolina receives an average of $1,180 in state funding, or $0. 72% of its domestic product.
- 34.5% of undergraduates receive federal student loans.
- 12. 8% of undergraduates at 2-year institutions receive loans in the average amount of $6,264 each
- 52% of undergraduates at 4-year institutions receive loans in the average amount of $6,740 each
Student Financial Aid in North Dakota
With $21 spent on student financial aid, North Dakota is 42nd in the nation. 2 million.
- Each undergraduate student in North Dakota receives an average of $481 in state funding, or $0. 65% of its domestic product.
- 42.1% of undergraduates receive federal student loans.
- 28. 5% of undergraduates at 2-year institutions receive loans in the average amount of $6,303 each
- 44. 8% of undergraduates at 4-year institutions receive loans in the average amount of $6,566 each
Student Financial Aid in Ohio
Ohio ranks 23rd in total financial aid dollars, spending $136. 4 million.
- Each undergraduate student in Ohio receives an average of $347 in state funding, or $0. 34% of its domestic product.
- 42.5% of undergraduates receive federal student loans.
- 28. 1% of undergraduates at 2-year institutions receive loans in the average amount of $5,095 each
- 47. 7% of undergraduates at 4-year institutions receive loans in the average amount of $6,611 each
Student Financial Aid in Oklahoma
With $108 spent on student financial aid, Oklahoma is ranked 29th overall. 8 million.
- Each undergraduate student in Oklahoma receives an average of $831 in state funding, or $0. 37% of its domestic product.
- 31.8% of undergraduates receive federal student loans.
- 20. 7% of undergraduates at 2-year institutions receive loans in the average amount of $5,250 each
- 43. 1% of undergraduates at 4-year institutions receive loans in the average amount of $7,085 each
Student Financial Aid in Oregon
Oregon spends $175 on student financial aid, which places it 20th overall. 5 million.
- Oregon spends, on average, $658 on each undergraduate student. 35% of its domestic product.
- 36.6% of undergraduates receive federal student loans.
- 25. 5% of undergraduates at 2-year institutions receive loans in the average amount of $5,544 each
- 45. 9% of undergraduates at 4-year institutions receive loans in the average amount of $6,685 each
Student Financial Aid in Pennsylvania
With $416 spent on student financial aid, Pennsylvania is ranked 10th overall. 2 million.
- Each undergraduate student in Pennsylvania receives an average of $1,010 in state funding, or $0. 22% of its domestic product.
- 52.5% of undergraduates receive federal student loans.
- 36. 3% of undergraduates at 2-year institutions receive loans in the average amount of $5,982 each
- 58% of undergraduates at 4-year institutions receive loans in the average amount of $6,835 each
Student Financial Aid in Rhode Island
Spending $10 million on financial aid, Rhode Island is ranked 47th overall.
- Each undergraduate student in Rhode Island receives an average of $166 in state funding, or $0. 33% of its domestic product.
- 47.7% of undergraduates receive federal student loans.
- 13. 7% of undergraduates at 2-year institutions receive loans in the average amount of $5,320 each
- 55. 3% of undergraduates at 4-year institutions receive loans in the average amount of $6,586 each
Student Financial Aid in South Carolina
With $421 spent on total financial aid, South Carolina is ranked ninth. 3 million.
- Each undergraduate student in South Carolina receives an average of $3,052 in state funding, or 0 31% of its domestic product.
- 42.5% of undergraduates receive federal student loans.
- 24. 7% of undergraduates at 2-year institutions receive loans in the average amount of $5,472 each
- 51. 1% of undergraduates at 4-year institutions receive loans in the average amount of $6,988 each
Student Financial Aid in South Dakota
South Dakota comes in at number 48 in terms of total financial aid spent, with $7. 1 million.
- Each undergraduate student in South Dakota receives an average of $139 in state funding, or $0. 44% of its domestic product.
- 51% of undergraduates receive federal student loans.
- 63% of undergraduates at 2-year institutions receive loans in the average amount of $6,146 each
- 48. 8% of undergraduates at 4-year institutions receive loans in the average amount of $6,527 each
Student Financial Aid in Tennessee
With $454 spent on student financial aid, Tennessee is ranked eighth overall. 3 million.
- Each undergraduate student in Tennessee receives an average of $2,252 in state funding, or 0 41% of its domestic product.
- 33.3% of undergraduates receive federal student loans.
- 9. 7% of undergraduates at 2-year institutions receive loans in the average amount of $5,949 each
- 48. 4% of undergraduates at 4-year institutions receive loans in the average amount of $7,223 each
Student Financial Aid in Texas
With $1 spent on student financial aid, Texas is ranked second overall. 2 billion.
- Each undergraduate student in Texas receives an average of $1,235 in state funding, or $0 39% of its domestic product.
- 28.3% of undergraduates receive federal student loans.
- 14% of undergraduates at 2-year institutions receive loans in the average amount of $5,462 each
- 38. 8% of undergraduates at 4-year institutions receive loans in the average amount of $6,843 each
Student Financial Aid in Utah
Utah ranks 19th in total financial aid dollars, spending $178. 9 million.
- Each undergraduate student in Utah receives an average of $56 in state funding, or $0. 57% of its domestic product.
- 29.3% of undergraduates receive federal student loans.
- 10. 9% of undergraduates at 2-year institutions receive loans in the average amount of $4,206 each
- 33. 1% of undergraduates at 4-year institutions receive loans in the average amount of $6,296 each
Student Financial Aid in Vermont
Vermont ranks 41st in total financial aid dollars, spending $21. 5 million.
- Each undergraduate student in Vermont receives an average of $569 in state funding, or $0. 27% of its domestic product.
- 43.5% of undergraduates receive federal student loans.
- 13. 4% of undergraduates at 2-year institutions receive loans in the average amount of $4,578 each
- 48. 8% of undergraduates at 4-year institutions receive loans in the average amount of $6,845 each
Student Financial Aid in Virginia
Virginia spends $844 million on student financial aid, which places it sixth overall.
- Each undergraduate student in Virginia receives an average of $1,391 in state funding, or 0 38% of its domestic product.
- 35.6% of undergraduates receive federal student loans.
- 11. 6% of undergraduates at 2-year institutions receive loans in the average amount of $5,582 each
- 49. 7% of undergraduates at 4-year institutions receive loans in the average amount of $7,161 each
Student Financial Aid in Washington
Washington spends $403 on student financial aid, which places it 11th overall. 7 million.
- Each undergraduate student in the State of Washington receives an average of $1,168, or $0. 34% of its domestic product.
- 24.4% of undergraduates receive federal student loans.
- 13. 4% of undergraduates at 2-year institutions receive loans in the average amount of $5,549 each
- 25. 1% of undergraduates at 4-year institutions receive loans in the average amount of $6,214 each
Student Financial Aid in West Virginia
With $123 in total financial aid, West Virginia is ranked 26th. 5 million.
- Each undergraduate student in West Virginia receives an average of $1,010 in state funding, or $0. 56% of its domestic product.
- 35.7% of undergraduates receive federal student loans.
- 23. 5% of undergraduates at 2-year institutions receive loans in the average amount of $5,017 each
- 38. 4% of undergraduates at 4-year institutions receive loans in the average amount of $7,277 each
Student Financial Aid in Wisconsin
Wisconsin ranks 24th in total financial aid dollars, spending $135. 1 million.
- Wisconsin spends, on average, $601 on each undergraduate student. 45% of its domestic product.
- 41.6% of undergraduates receive federal student loans.
- 28. 4% of undergraduates at 2-year institutions receive loans in the average amount of $4,909 each
- 47. 2% of undergraduates at 4-year institutions receive loans in the average amount of $6,369 each
Student Financial Aid in Wyoming
Wyoming ranks 44th in total financial aid dollars, spending $18. 1 million.
- The state of Wyoming provides $16,340 in student financial aid for each student, or 0 9% of their domestic product.
- 21.9% of undergraduates receive federal student loans.
- 15. 6% of undergraduates at 2-year institutions receive loans in the average amount of $6,164 each
- 34. 4% of undergraduates at 4-year institutions receive loans in the average amount of $5,038 each
3 big FAFSA mistakes that will cost you a lot of money!
FAQ
Is it hard to get approved for FAFSA?
“So you have to fill out the FAFSA if you want federal loans, federal grants, or federal work-study,” “Almost all students who apply are eligible for federal financial aid in some capacity. According to the FAFSA, qualifying for aid is “very simple,” according to Barnett.
How much does an average person get from FAFSA?
The average and maximum amounts of financial aid are as follows: Federal Direct Stafford Loans: $5,800 for dependent students and $7,630 for independent students; Federal Work-Study: $2,340; Federal Supplemental Educational Opportunity Grant: $670; Total Federal Student Aid: $13,120 for dependent students and $14,950 for independent students.
Does everyone get accepted for FAFSA?
You must have financial need, be a U.S. citizen, and meet other general eligibility requirements. S. enrolled in an eligible degree- or certificate-granting program at your college or career school, whether you are a citizen or an eligible non-citizen.
What GPA is needed for FAFSA?
A student must be making Satisfactory Academic Progress (SAP) in order to be eligible for federal student aid and college financial aid. This generally consists of maintaining at least a 2. 0 GPA on a 4. 0 scale (i. e. , at least a C average) and completing sufficient classes in order to advance toward a degree.