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Table 6-1
Annual Student Financial Aid (In Thousands of Dollars)
FY 2019 - FY 2023
 
  Fiscal Year Percentage Annual Change Five Year
% Change
FY2019 FY2020 FY2021 FY2022 FY2023 2019-20 2020-21 2021-22 2022-23 2019-23

UNDERGRADUATE
     
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
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
     
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
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