The National Center for Education Statistics (NCES) recently published National Postsecondary Student Aid Study (NPSAS) data looking at student financial aid estimates for 2017-18. The showcased data measures how undergraduate students, graduate students, and their families, paid for postsecondary education, with special focus on the federal student aid disbursed through Title IV of the Higher Education Act. Some of the report’s findings are below.
Among the findings for undergraduate financial aid estimates:
- 70% of all undergraduate students received some sort of financial aid.
- 59% of undergraduates received federal financial aid, 25% received state aid, and 25% received institutional aid.
- 62% of undergraduates received grants*, 39% took out loans**, and 7% were awarded work study.
- 44% of undergraduates received federal Pell Grants. The average grant amount for Pell recipients was $3,900.
- The average loan amount for undergraduate students was $6,800. Their average Direct Loan amount was $6,600.
Among the findings for graduate financial aid estimates are:
- 58% of all graduate students received some sort of financial aid.
- 26% of graduate students received grants, 41% took out loans, and 3% received graduate assistantships.
- 11% of graduate students borrowed Direct graduate PLUS Loans.
- The average loan amount for graduate students was $24,800. Their average Direct Unsubsidized Loan amount was $18,400.
*Unless otherwise indicated, the term grants includes grants, scholarships, or tuition waivers from federal, state, institution, or private sources, including employers.
**Unless otherwise indicated, the term loans includes only loans to students and may be from any source but excludes other forms of financing such as credit cards, home equity loans, and loans from individuals.
