71% of all undergraduate students received some type of financial aid (including student loans) in the 2011–12 academic year. For those who received any aid, the total average amount was $10,800. That's according to the 2011–12 National Postsecondary Student Aid Study (NPSAS:12) study released by the National Center for Education Statistics (NCES). This study represents undergraduate and graduate students attending postsecondary institutions in the United States.
Other findings from the 2011–12 academic year include:
- 59% of undergraduate students received grants
- 42% took out student loans
- 6% received aid through work-study jobs
- 4% received veterans’ benefits
- 5% had parents who took out federal Direct PLUS Loans.
Undergraduate Students:
- Among undergraduates who received grants, the average total amount was $6,200
- Borrowers took out an average of $7,100 in student loans.
- Work-study participants received an average $2,300 in wages.
- Recipients of veterans’ benefits received an average of $7,500 in benefits.
- Among undergraduates whose parents took out federal Direct PLUS Loans, the average amount borrowed by the parents was $12,100.
Graduate Students
- The average total aid received by graduate students was $22,000.
- Graduate students with assistantships received an average of $14,600.
- Borrowers took out an average of $21,400 in student loans.
- The average amount borrowed from federal Direct Subsidized or Unsubsidized Loans was $17,000,
- The average amount borrowed from federal Direct PLUS Loans for graduate students was $18,600.
To view the full report, visit
http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2013165.
