Fast Facts

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

Response:
NCES sponsors the National Postsecondary Student Aid Study (NPSAS), a comprehensive nationwide study designed to determine how students and their families pay for postsecondary education, and to describe some demographic and other characteristics of those enrolled. The study is based on a nationally representative sample of students in postsecondary education institutions, including undergraduate, graduate, and first-professional students. Students attending all types and levels of institutions are represented, including public and private not-for-profit and for-profit institutions, and less-than-2-year institutions, community colleges, and 4-year colleges and universities. The NPSAS studies are designed to address policy questions resulting from the rapid growth of financial aid programs and the succession of changes in financial aid program policies since 1986.

Highlights from 2003-04 National Postsecondary Student Aid Study (NPSAS:04) Undergraduate Financial Aid Estimates for 2003-04 by Type of Institution include the following:

All Institutions

Sixty-three percent of all undergraduates enrolled in 2003� received some type of financial aid. Undergraduates were more likely to receive grants than student loans in 2003�, but the average grant amount was less than the average student loan amount. About one-half (51 percent) of undergraduates received grants and about one-third (35 percent) took out student loans. The average amount of grants received was $4,000, and the average amount borrowed by undergraduates in 2003� was $5,800.

Undergraduates enrolled in 2003� were more likely to receive federal grants than grants from any other source. Twenty-eight percent of all undergraduates received federal grants (such as Federal Pell Grants or Federal Supplemental Educational Opportunity Grants), 18 percent received institutional grants, 15 percent received state grants, and 15 percent received grants from other sources (e.g., employers, parents� employers, or private foundations or organizations).

Public 4-Year Institutions

Sixty-nine percent of all undergraduates enrolled in public 4-year institutions in 2003� received some type of financial aid. About one-half (52 percent) of all undergraduates attending public 4-year institutions in 2003� received grants and 45 percent took out student loans. Those who were awarded grants received an average of $4,000 in grant funds, while those who took out student loans borrowed an average of $5,600.

Twenty-seven percent of all undergraduates enrolled in public 4-year institutions in 2003� received federal grants, 21 percent received institutional grants, 19 percent received state grants, and 14 percent received grants from other sources such as employers or private organizations. The average federal grant amount was $2,800, the average institutional grant was $2,900, the average state grant was $2,200, and the average grant funded through other sources was $2,000.

Private Not-For-Profit 4-Year Institutions

Eighty-three percent of all undergraduates attending private not-for-profit 4-year institutions received some type of financial aid in 2003�. About three-fourths (73 percent) of the undergraduates enrolled in private not-for-profit 4-year institutions received grants and 56 percent took out student loans in 2003�. The average grant amount was $7,700 and the average student loan was $6,900.

One-half (50 percent) of all undergraduates enrolled in private not-for-profit 4-year institutions in 2003� received institutional grants, 28 percent received federal grants, 22 percent received state-funded grants, and 23 percent received grants from other sources such as private organizations or employers. The average institutional grant amount awarded to undergraduates at private not-for-profit 4-year institutions in 2003� was $7,100, the average federal grant was $3,000, the average state grant was $2,800, and the average grant from other sources was $2,900.

Public 2-Year Institutions

Forty-seven percent of all undergraduates enrolled in public 2-year institutions in 2003� received some type of financial aid. Forty percent received grants and 12 percent took out student loans. Although a smaller percentage of undergraduates attending public 2-year institutions received loans than grants, the average student loan amount ($3,600) was larger than the average grant amount ($2,200).

Among undergraduates attending public 2-year institutions in 2003�, 23 percent received federal grants, 11 percent received state-funded grants, 8 percent received institutional grants, and 12 percent received grants from other sources such as employers or private organizations. The average federal grant was $2,300, the average state grant was $1,000, the average institutional grant was $1,200, and the average grant awarded from other sources was $1,100.

Private For-Profit Institutions

Among students attending private for-profit institutions, about 9 out of 10 (89 percent) received some type of financial aid in 2003�. About two-thirds (66 percent) of the undergraduates enrolled in private for-profit institutions received grants and about three-fourths (73 percent) took out student loans in 2003�. The average grant amount was $3,300 and the average student loan amount was $6,800.

About one-half (53 percent) of all undergraduates at private for-profit institutions received a federal grant in 2003� (table 18). Eight percent received state grants, 7 percent received institutional grants, and 13 percent received grants funded through other sources.

SOURCE: U.S. Department of Education, National Center for Education Statistics. (2005). 2003-04 National Postsecondary Student Aid Study (NPSAS:04) Undergraduate Financial Aid Estimates for 2003-04 by Type of Institution (NCES 2005-163).

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