With college costs continuing to rise, more students are receiving federal financial aid. State and institutional aid remains largely flat.
Data released today by the National Center for Education Statistics, a branch of the U.S. Department of Education, shows 71 percent of all undergraduate students received some type of financial aid in the 2011-12 school year, up from 66 percent four years earlier. Forty-two percent of students received federal grants, up from 28 percent, and 40 percent received federal loans, up from 35 percent.
Meanwhile, 15 percent received state grants, and 20 percent received a grant from the college or university they attend — figures that have remained essentially unchanged since the 2007-08 school year.