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Majority of Undergraduates Rely on Federal Aid

September 17, 2021
 
 

Around 60 percent of undergraduates used some form of federal financial aid to pay for their postsecondary education during the 2017-18 academic year, according to the latest data released by the National Center for Education Statistics.

Over all, 70 percent of students received some type of financial aid from any source, excluding loans from private lenders. Of the federal aid, 44 percent of students used Pell Grants and 39 percent borrowed from federal student loan programs. The average amount of total aid was $13,000, and the average amount of student loans was $6,600.

For graduate students, almost 60 percent received some form of financial aid, and 41 percent took out an average of $24,800 in loans.

A report on the data is available, but the full data set won't be released until November.

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