Many States Increased Student Aid Despite Recession, Data Show
Career College Central Summary:
States increased their amount of student financial aid by nearly 2 percent during the 2011 fiscal year, and used a larger share of that money for need-based aid than they had since 2003, according to an annual survey released on Monday by the National Association of State Student Grant and Aid Programs.
The survey noted that states also used a larger share of that money for need-based aid than they had since 2003.
Many states shifted financial-aid dollars away from merit-based aid and nongrant aid, such as loan forgiveness and work-study, in order to spend more on grants based on financial need.
States spent $11.1-billion on student aid in 2011, with about 85 percent of that money being awarded in the form of grants and scholarships, mostly to undergraduate students.
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