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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