ERIC Number: ED467771
Record Type: Non-Journal
Publication Date: 2002-Aug-5
Reference Count: N/A
Highlights of Financial Aid Awarded Survey, 2001: Grants, Loans, and Earnings from Work Study Jobs Received by Undergraduates Attending Minnesota Post-Secondary Institutions, Fiscal Year 2001.
Minnesota Higher Education Services Office, St. Paul.
This report summarizes results from the Higher Education Services Offices 2001 survey of financial aid received by undergraduates attending Minnesota postsecondary institutions. Undergraduates attending Minnesota postsecondary institutions in fiscal year (fy) 2001 used $1.2 billion in grants, education loans, and earnings from work study jobs to pay for postsecondary education. In addition, students and families used money from current income, family and student savings, and other private funds. Grants from all sources totaled $529 million in 2001, up 13% from fy 1999. Grants from postsecondary institutions and private sources increased by 19%. The amount of Pell Grant assistance increased by 9%, and Minnesota State Grant assistance increased by 6%. The number of undergraduates who received Pell Grants decreased by 5%, and the number receiving Minnesota State Grants increased by 6%. Overall student borrowing by undergraduates increased by 15%, faster than tuition or personal income. Much of the 15% increase in borrowing from 1999 to 2001 occurred in the states Student Educational Loan Fund (SELF) program. The increase in total borrowing was similar to that seen in the United States as a whole, but loans make up a smaller portion of the total of grants and loans for Minnesota undergraduates than they do nationally. (Contains 11 figures.) (SLD)
Descriptors: Federal Aid, Grants, Higher Education, Income, State Aid, Student Financial Aid, Surveys, Undergraduate Students, Work Study Programs
For full text: http://www.mheso.state.mn.us/pdf/faResearch/ highlights2001.pdf.
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Minnesota Higher Education Services Office, St. Paul.
Identifiers - Location: Minnesota