Percentage of full-time, full-year undergraduates who received loans and grants, average annual amounts received by recipients, and average percentage of aid received as loans, by source of aid, dependency status, income, and type of institution: 1992–93, 1999–2000, and 2003

Contexts of Postsecondary Education: Tables

Finance

Table 46-1. Percentage of full-time, full-year undergraduates who received loans and grants, average annual amounts received by recipients, and average percentage of aid received as loans, by source of aid, dependency status, income, and type of institution: 1992–93, 1999–2000, and 2003–04

[In constant 2003-04 dollars]

	Total					Federal
	Loans		Grants			Loans		Grants
Dependency status, income, and type of institution	Percent	Average dollars	Percent	Average dollars	Loans as percent of total aid	Percent	Average dollars	Percent	Average dollars	Loans as percent of federal aid

1992–93
Total	32.4	$4,600	49.3	$4,600	33.7	31.5	$4,400	29.7	$2,600	53.7
Dependency status and income
Dependent undergraduates	28.3	4,100	43.2	5,000	32.2	27.2	3,900	20.6	2,500	59.2
Low-income	48.8	3,900	79.2	5,200	27.5	48.4	3,800	68.3	2,800	38.1
Middle-income	32.0	4,200	42.9	5,000	37.3	30.9	4,000	15.1	1,700	72.1
High-income	15.1	4,600	25.4	4,800	31.4	13.3	4,100	1.0	1,900	88.0
Independent undergraduates	43.1	5,200	64.9	3,800	36.5	42.5	5,200	53.1	2,800	45.9
Type of institution
Public 2-year	11.8	3,100	42.5	2,500	16.1	11.4	3,100	30.3	2,300	23.1
Public 4-year	31.7	4,200	44.1	3,400	38.3	30.8	4,100	27.2	2,600	57.1
Private not-for-profit 4-year	45.8	5,100	63.2	7,900	30.7	44.0	4,800	27.0	3,000	65.1

1999–2000
Total	45.1	$6,000	58.8	$5,500	40.6	43.9	$5,300	30.5	$2,800	64.0
Dependency status and income
Dependent undergraduates	43.8	5,400	56.2	6,000	39.6	42.6	4,600	23.1	2,700	68.4
Low-income	47.8	5,300	83.2	6,100	26.1	46.9	4,700	72.4	3,000	36.6
Middle-income	47.9	5,400	53.7	6,000	45.1	46.6	4,600	13.1	1,800	81.2
High-income	33.4	5,700	38.7	5,800	44.4	31.9	4,700	0.7	1,800	94.6
Independent undergraduates	48.5	7,500	65.9	4,200	43.1	47.6	7,000	51.1	2,900	54.5
Type of institution
Public 2-year	17.1	4,300	49.7	2,900	21.0	16.3	3,700	32.4	2,700	30.5
Public 4-year	48.4	5,500	54.5	4,200	48.3	47.4	5,200	28.9	2,700	70.2
Private not-for-profit 4-year	59.9	6,900	75.0	9,200	35.9	58.2	5,600	27.5	3,000	71.9

2003–04
Total	49.5	$6,200	63.1	$5,700	41.2	47.9	$5,300	33.6	$3,300	62.8
Dependency status and income
Dependent undergraduates	46.8	5,600	60.3	6,100	39.1	45.0	4,400	25.2	3,100	66.3
Low-income	49.0	5,400	85.5	7,000	24.2	47.5	4,700	72.4	3,700	33.8
Middle-income	49.5	5,700	58.0	5,600	44.1	47.7	4,400	16.7	2,000	77.2
High-income	39.8	5,800	43.5	5,900	46.1	37.9	4,200	1.1	1,800	92.4
Independent undergraduates	56.5	7,500	70.2	4,600	46.0	55.4	7,000	55.3	3,400	56.0
Type of institution
Public 2-year	22.8	4,100	52.7	3,400	24.7	21.6	3,800	35.4	3,200	34.1
Public 4-year	51.4	5,800	59.1	4,600	46.9	49.7	5,200	30.2	3,200	68.7
Private not-for-profit 4-year	65.8	7,200	81.5	9,400	35.8	64.1	5,400	31.6	3,400	70.3

NOTE:Total loans include federal, state, institutional, and private loans. Total grants include federal, state, institutional, and private grants, including employer reimbursements. Federal loans include Perkins, subsidized and unsubsidized Stafford, and Supplemental Loans to Students (SLS). Federal grants are primarily Pell Grants and Supplemental Educational Opportunity Grants (SEOG) but also include Byrd scholarships. Parent Loans for Undergraduate Students (PLUS) loans to parents, veterans’ benefits, and tax credits are not included in this table. Loans as a percentage of aid is determined by dividing the amount of loans received (including zero loan amounts) by the amount of total aid (or federal aid) received for each case. Income for financially dependent students is based on parents’ annual income in the prior year. The cutoff points for low, middle, and high income were obtained by identifying the incomes at the 25th and 75th percentiles. Adjusted to constant 2003–04 dollars, the values were in 1992–93, $39,200 and $84,900; in 1999–2000, $35,700 and $94,100; and in 2003–04, $34,200 and $94,400. Data adjusted by the Consumer Price Index for All Urban Consumers (CPI-U) to constant 2003–04 dollars. See supplemental note 11 for more information about the CPI-U.
SOURCE: U.S. Department of Education, National Center for Education Statistics, 1992–93, 1999–2000, and 2003–04 National Postsecondary Student Aid Studies (NPSAS:93, NPSAS:2000, and NPSAS:04).

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