ERIC Number: ED474374
Record Type: RIE
Publication Date: 2002
Trends in Student Aid, 2002.
College Board, New York, NY.
This report presents annual data on the amount of financial assistance--grants, loans, and work-study--available to help students pay for postsecondary education. The College Board began this data series in 1983 to track the value of such aid over time from federal, state, and institutional sources. This year, information on federal education tax credits is added to the data on grants, loans, and work-study funds. The study, which draws on data from many sources, covers direct aid to students and parents and provides information on virtually all federal aid and the vast majority of state and institutional assistance available to students in postsecondary education. Students received almost $90 billion in financial aid in the 2001-2002 academic year, an increase of 11.5% over the preceding year, or 10.0% after adjusting for inflation. Over the past decade, total aid has increased by 117% in constant dollars, and grant aid has doubled in real terms, while education loan volume had tripled. In 1991-1992, of the total amount of student aid, 50% was in the form of grant aid, 47% was in the form of loan aid, and 2% was in the form of work-study. Student use of unsubsidized loans continued to grow, while borrowing in the subsidized loan programs has leveled off. More detailed information is given about federal direct loan programs, parent loans, nonfederal loans, Pell grants, state programs, and institutional aid. Affordability gaps and the distinction between need-based and nonneed-based aid are discussed. (Contains 13 tables and 12 figures.) (SLD)
Descriptors: Federal Aid, Financial Support, Grants, Higher Education, State Aid, Student Costs, Student Financial Aid, Student Loan Programs, Tables (Data), Trend Analysis, Work Study Programs
College Board Publications, Box 886, New York, NY 10101-0886 (Item #995972, $15 plus $4 postage and handling). Tel: 800-323-7155 (Toll Free); Web site: http://www.collegeboard.com.
Publication Type: Numerical/Quantitative Data; Reports - Descriptive
Education Level: N/A
Authoring Institution: College Board, New York, NY.
Note: For the previous year's report, see ED 457 723.