Colleges Costs Increase While More Students Rely On Federal Aid
Career College Central summary:
As college costs continue to rise, more students are receiving federal financial aid, though state and institutional aid remains largely flat.
Data released Tuesday by the National Center for Education Statistics, a branch of the U.S. Department of Education, shows 71 percent of all undergraduate students received some type of financial aid in the 2011-12 school year, up from 66 percent four years earlier.
Forty-two percent of students received federal grants, up from 28 percent, and 40 percent received federal loans, an increase of 5 percentage points.
Meanwhile, 15 percent received state grants and 20 percent received a grant from the college or university they attend – figures that have remained essentially unchanged since the 2007-08 school year.
Among full-time, dependent students, access to state grants actually declined, from 29 percent to 26 percent.
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