Table 6-1 Annual Student Financial Aid (In Thousands of Dollars) FY 2019 - FY 2023 |
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Fiscal Year | Percentage Annual Change | Five Year % Change |
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FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2019-23 | |
UNDERGRADUATE |
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FEDERAL FUNDS: | $ 147,553 | $ 142,595 | $ 124,598 | $ 122,845 | $129,483 | -3.4% | -12.6% | -1.4% | 5.4% | -12.2% |
Grants | 29,837 | 28,695 | 28,756 | 28,031 | 29,765 | -3.8% | 0.2% | -2.5% | 6.2% | -0.2% |
Loans | 115,352 | 111,362 | 93,418 | 92,480 | 97,189 | -3.5% | -16.1% | -1.0% | 5.1% | -15.7% |
Employment | 2,364 | 2,538 | 2,424 | 2,334 | 2,529 | 7.4% | -4.5% | -3.7% | 8.4% | 7.0% |
STATE FUNDS: | $ 17,707 | $ 19,790 | $ 20,022 | $ 21,657 | $26,981 | 11.8% | 1.2% | 8.2% | 24.6% | 52.4% |
Grants | 17,707 | 19,790 | 20,022 | 21,657 | 26,981 | 11.8% | 1.2% | 8.2% | 24.6% | 52.4% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
INSTITUTIONAL FUNDS: | $ 207,886 | $ 221,871 | $ 231,825 | $ 248,866 | $268,710 | 6.7% | 4.5% | 7.4% | 8.0% | 29.3% |
Grants | 199,358 | 213,687 | 226,103 | 241,475 | 258,868 | 7.2% | 5.8% | 6.8% | 7.2% | 29.9% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 8,528 | 8,184 | 5,722 | 7,391 | 9,842 | -4.0% | -30.1% | 29.2% | 33.2% | 15.4% |
OTHER SOURCES: | $ 23,027 | $ 24,452 | $ 20,829 | $ 23,090 | $23,439 | 6.2% | -14.8% | 10.9% | 1.5% | 1.8% |
Grants | 2,253 | 2,469 | 2,413 | 2,723 | 3,319 | 9.6% | -2.3% | 12.8% | 21.9% | 47.3% |
Loans | 20,774 | 21,983 | 18,416 | 20,367 | 20,120 | 5.8% | -16.2% | 10.6% | -1.2% | -3.1% |
UNDERGRAD FIN AID: | $ 396,173 | $ 408,708 | $ 397,274 | $ 416,458 | $ 448,613 | 3.2% | -2.8% | 4.8% | 7.7% | 13.2% |
GRADUATE |
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FEDERAL FUNDS: | $ 108,579 | $ 104,292 | $ 100,971 | $ 96,690 | $86,281 | -3.9% | -3.2% | -4.2% | -10.8% | -20.5% |
Grants | 1,881 | 1,738 | 2,000 | 1,773 | 1,824 | -7.6% | 15.1% | -11.4% | 2.9% | -3.0% |
Loans | 106,137 | 102,048 | 98,353 | 94,017 | 83,653 | -3.9% | -3.6% | -4.4% | -11.0% | -21.2% |
Employment | 561 | 506 | 618 | 900 | 804 | -9.8% | 22.1% | 45.6% | -10.7% | 43.3% |
STATE FUNDS: | $ 178 | $ 109 | $ 107 | $ 140 | $395 | -38.8% | -1.8% | 30.8% | 182.1% | 121.9% |
Grants | 178 | 109 | 107 | 140 | 395 | -38.8% | -1.8% | 30.8% | 182.1% | 121.9% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
INSTITUTIONAL FUNDS: | $ 42,885 | $ 43,833 | $ 40,233 | $ 39,404 | $42,237 | 2.2% | -8.2% | -2.1% | 7.2% | -1.5% |
Grants | 35,399 | 35,808 | 35,623 | 36,035 | 37,081 | 1.2% | -0.5% | 1.2% | 2.9% | 4.8% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 7,486 | 8,025 | 4,610 | 3,369 | 5,156 | 7.2% | -42.6% | -26.9% | 53.0% | -31.1% |
OTHER SOURCES: | $ 3,393 | $ 4,037 | $ 4,032 | $ 4,678 | $6,932 | 19.0% | -0.1% | 16.0% | 48.2% | 104.3% |
Grants | 921 | 867 | 1,283 | 1,103 | 926 | -5.9% | 48.0% | -14.0% | -16.0% | 0.5% |
Loans | 2,472 | 3,170 | 2,749 | 3,575 | 6,006 | 28.2% | -13.3% | 30.0% | 68.0% | 143.0% |
GRADUATE FIN AID: | $ 155,035 | $ 152,271 | $ 145,343 | $ 140,912 | $ 135,845 | -1.8% | -4.5% | -3.0% | -3.6% | -12.4% |
COMBINED |
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FEDERAL FUNDS: | $ 256,132 | $ 246,887 | $ 225,569 | $ 219,535 | $215,764 | -3.6% | -8.6% | -2.7% | -1.7% | -15.8% |
Grants | 31,718 | 30,433 | 30,756 | 29,804 | 31,589 | -4.1% | 1.1% | -3.1% | 6.0% | -0.4% |
Loans | 221,489 | 213,410 | 191,771 | 186,497 | 180,842 | -3.6% | -10.1% | -2.8% | -3.0% | -18.4% |
Employment | 2,925 | 3,044 | 3,042 | 3,234 | 3,333 | 4.1% | -0.1% | 6.3% | 3.1% | 13.9% |
STATE FUNDS: | $ 17,885 | $ 19,899 | $ 20,129 | $ 21,797 | $27,376 | 11.3% | 1.2% | 8.3% | 25.6% | 53.1% |
Grants | 17,885 | 19,899 | 20,129 | 21,797 | 27,376 | 11.3% | 1.2% | 8.3% | 25.6% | 53.1% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
INSTITUTIONAL FUNDS: | $ 250,771 | $ 265,704 | $ 272,058 | $ 288,270 | $310,947 | 6.0% | 2.4% | 6.0% | 7.9% | 24.0% |
Grants | 234,757 | 249,495 | 261,726 | 277,510 | 295,949 | 6.3% | 4.9% | 6.0% | 6.6% | 26.1% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | |
Employment | 16,014 | 16,209 | 10,332 | 10,760 | 14,998 | 1.2% | -36.3% | 4.1% | 39.4% | -6.3% |
OTHER SOURCES: | $ 26,420 | $ 28,489 | $ 24,861 | $ 27,768 | $30,371 | 7.8% | -12.7% | 11.7% | 9.4% | 15.0% |
Grants | 3,174 | 3,336 | 3,696 | 3,826 | 4,245 | 5.1% | 10.8% | 3.5% | 11.0% | 33.7% |
Loans | 23,246 | 25,153 | 21,165 | 23,942 | 26,126 | 8.2% | -15.9% | 13.1% | 9.1% | 12.4% |
TOTAL FINANCIAL AID | $ 551,208 | $ 560,979 | $ 542,617 | $ 557,370 | $ 584,458 | 1.8% | -3.3% | 2.7% | 4.9% | 6.0% |
Source: ISAC Annual SFA Survey. |
IRMA 2023 |