Table 6-1 Annual Student Financial Aid (In Thousands of Dollars) FY 2020 - FY 2024 |
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Fiscal Year | Percentage Annual Change | Five Year % Change |
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FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2020-24 | |
UNDERGRADUATE |
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FEDERAL FUNDS: | $ 142,595 | $ 124,598 | $ 122,845 | $129,483 | $137,078 | -12.6% | -1.4% | 5.4% | 5.9% | -3.9% |
Grants | 28,695 | 28,756 | 28,031 | 29,765 | 33,015 | 0.2% | -2.5% | 6.2% | 10.9% | 15.1% |
Loans | 111,362 | 93,418 | 92,480 | 97,189 | 101,196 | -16.1% | -1.0% | 5.1% | 4.1% | -9.1% |
Employment | 2,538 | 2,424 | 2,334 | 2,529 | 2,867 | -4.5% | -3.7% | 8.4% | 13.4% | 13.0% |
STATE FUNDS: | 19,790 | 20,022 | 21,657 | 26,981 | 32,874 | 1.2% | 8.2% | 24.6% | 21.8% | 66.1% |
Grants | $ 19,790 | $ 20,022 | $ 21,657 | $ 26,981 | $ 32,874 | 1.2% | 8.2% | 24.6% | 21.8% | 66.1% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
INSTITUTIONAL FUNDS: | $ 221,871 | $ 231,825 | $ 248,866 | $ 268,710 | $ 288,283 | 4.5% | 7.4% | 8.0% | 7.3% | 29.9% |
Grants | 213,687 | 226,103 | 241,475 | 258,868 | 280,285 | 5.8% | 6.8% | 7.2% | 8.3% | 31.2% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 8,184 | 5,722 | 7,391 | 9,842 | 7,998 | -30.1% | 29.2% | 33.2% | -18.7% | -2.3% |
OTHER SOURCES: | $ 24,452 | $ 20,829 | $ 23,090 | $ 23,439 | $ 23,702 | -14.8% | 10.9% | 1.5% | 1.1% | -3.1% |
Grants | 2,469 | 2,413 | 2,723 | 3,319 | 3,686 | -2.3% | 12.8% | 21.9% | 11.1% | 49.3% |
Loans | 21,983 | 18,416 | 20,367 | 20,120 | 20,016 | -16.2% | 10.6% | -1.2% | -0.5% | -8.9% |
UNDERGRAD FIN AID: | $ 408,708 | $ 397,274 | $ 416,458 | $ 448,613 | $ 481,937 | -2.8% | 4.8% | 7.7% | 7.4% | 17.9% |
GRADUATE |
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FEDERAL FUNDS: | $ 104,292 | $ 100,971 | $ 96,690 | $ 86,281 | $ 82,530 | -3.2% | -4.2% | -10.8% | -4.3% | -20.9% |
Grants | 1,738 | 2,000 | 1,773 | 1,824 | 1,942 | 15.1% | -11.4% | 2.9% | 6.5% | 11.7% |
Loans | 102,048 | 98,353 | 94,017 | 83,653 | 79,975 | -3.6% | -4.4% | -11.0% | -4.4% | -21.6% |
Employment | 506 | 618 | 900 | 804 | 613 | 22.1% | 45.6% | -10.7% | -23.8% | 21.1% |
STATE FUNDS: | $ 109 | $ 107 | $ 140 | $ 395 | $1,332 | -1.8% | 30.8% | 182.1% | 237.2% | 1122.0% |
Grants | 109 | 107 | 140 | 395 | 1,332 | -1.8% | 30.8% | 182.1% | 237.2% | 1122.0% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
INSTITUTIONAL FUNDS: | $ 43,833 | $ 40,233 | $ 39,404 | $ 42,237 | $ 43,723 | -8.2% | -2.1% | 7.2% | 3.5% | -0.3% |
Grants | 35,808 | 35,623 | 36,035 | 37,081 | 38,974 | -0.5% | 1.2% | 2.9% | 5.1% | 8.8% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 8,025 | 4,610 | 3,369 | 5,156 | 4,749 | -42.6% | -26.9% | 53.0% | -7.9% | -40.8% |
OTHER SOURCES: | $ 4,037 | $ 4,032 | $ 4,678 | $ 6,932 | $10,138 | -0.1% | 16.0% | 48.2% | 46.2% | 151.1% |
Grants | 867 | 1,283 | 1,103 | 926 | 777 | 48.0% | -14.0% | -16.0% | -16.1% | -10.4% |
Loans | 3,170 | 2,749 | 3,575 | 6,006 | 9,361 | -13.3% | 30.0% | 68.0% | 55.9% | 195.3% |
GRADUATE FIN AID: | $ 152,271 | $ 145,343 | $ 140,912 | $ 135,845 | $ 137,723 | -4.5% | -3.0% | -3.6% | 1.4% | -9.6% |
COMBINED |
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FEDERAL FUNDS: | $ 246,887 | $ 225,569 | $ 219,535 | $ 215,764 | $ 219,608 | -8.6% | -2.7% | -1.7% | 1.8% | -11.0% |
Grants | 30,433 | 30,756 | 29,804 | 31,589 | 34,957 | 1.1% | -3.1% | 6.0% | 10.7% | 14.9% |
Loans | 213,410 | 191,771 | 186,497 | 180,842 | 181,171 | -10.1% | -2.8% | -3.0% | 0.2% | -15.1% |
Employment | 3,044 | 3,042 | 3,234 | 3,333 | 3,480 | -0.1% | 6.3% | 3.1% | 4.4% | 14.3% |
STATE FUNDS: | $ 19,899 | $ 20,129 | $ 21,797 | $ 27,376 | $ 34,206 | 1.2% | 8.3% | 25.6% | 24.9% | 71.9% |
Grants | 19,899 | 20,129 | 21,797 | 27,376 | 34,206 | 1.2% | 8.3% | 25.6% | 24.9% | 71.9% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
Employment | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - |
INSTITUTIONAL FUNDS: | $ 265,704 | $ 272,058 | $ 288,270 | $ 310,947 | $ 332,006 | 2.4% | 6.0% | 7.9% | 6.8% | 25.0% |
Grants | 249,495 | 261,726 | 277,510 | 295,949 | 319,259 | 4.9% | 6.0% | 6.6% | 7.9% | 28.0% |
Loans | 0 | 0 | 0 | 0 | 0 | - | - | - | - | |
Employment | 16,209 | 10,332 | 10,760 | 14,998 | 12,747 | -36.3% | 4.1% | 39.4% | -15.0% | -21.4% |
OTHER SOURCES: | $ 28,489 | $ 24,861 | $ 27,768 | $ 30,371 | $ 33,840 | -12.7% | 11.7% | 9.4% | 11.4% | 18.8% |
Grants | 3,336 | 3,696 | 3,826 | 4,245 | 4,463 | 10.8% | 3.5% | 11.0% | 5.1% | 33.8% |
Loans | 25,153 | 21,165 | 23,942 | 26,126 | 29,377 | -15.9% | 13.1% | 9.1% | 12.4% | 16.8% |
TOTAL FINANCIAL AID | $ 560,979 | $ 542,617 | $ 557,370 | $ 584,458 | $ 619,660 | -3.3% | 2.7% | 4.9% | 6.0% | 10.5% |
Source: ISAC Annual SFA Survey. |
IRMA 2024 |