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Table 6-1
Annual Student Financial Aid (In Thousands of Dollars)
FY 2020 - FY 2024
 
  Fiscal Year Percentage Annual Change Five Year
% Change
FY2020 FY2021 FY2022 FY2023 FY2024 2020-21 2021-22 2022-23 2023-24 2020-24

UNDERGRADUATE
     
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
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
     
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
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