53rd Annual Survey Report on State-Sponsored Student Financial Aid: 2021-2022 Academic Year

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  • Additional Information
    • Availability:
      National Association of State Student Grant and Aid Programs. 500 West Monroe, Springfield, IL 62704. e-mail: [email protected]; Web site: http://www.nassgap.org/
    • Peer Reviewed:
      N
    • Source:
      27
    • Education Level:
      Higher Education
      Postsecondary Education
    • Subject Terms:
      State Aid; Student Financial Aid; Grants; National Organizations; National Surveys; Expenditures; Paying for College; Financial Support; Undergraduate Students; Work Study Programs; Student Loan Programs; Tuition; Institutional Characteristics; Merit Scholarships
    • Subject Terms:
      California; Texas; Illinois; New York; Virginia; Washington; New Jersey; Pennsylvania
    • Abstract:
      Each year, NASSGAP completes a survey regarding state-funded expenditures for postsecondary student financial aid. This report provides data regarding state-funded expenditures for student financial aid and illustrates the extent of efforts made by the states to assist postsecondary students. Information in this report is based on academic year 2021-22 data from the 53rd Annual NASSGAP survey. Data Highlights include: (1) In the 2021-22 academic year, the states awarded almost $14.9 billion in total state funded student financial aid, a slight increase about 1.0 percent in nominal terms and a decrease of about 6.4 percent in constant dollar terms from the $14.8 billion in aid awarded in 2020-21; (2) The majority of state aid (87 percent) remains in the form of grants. In 2021-22, about 4.1 million grant awards were made representing about 13.0 billion in need and nonneed-based grant aid. This represents an increase of about 0.8 percent from the $12.9 billion in grants awarded in 2020-21. Of the grant money awarded in 2021-22, about 73 percent was need-based and about 27 percent was nonneed-based, a breakout consistent with historical data; (3) Funding for undergraduate need-based grant aid decreased slightly nationwide from $9.4 billion in 2020-21 to about $9.5 billion in 2021-22, a change of about 1.6 percent in nominal terms; (4) Eight states (California, Texas, New York, Virginia, New Jersey, Washington, Illinois, Pennsylvania) collectively again awarded about 6.4 billion in undergraduate need-based grant aid, accounting for about 68.7 percent of all aid of this type; and (5) States provided about $1.9 billion in nongrant student aid, including loans, loan assumptions, conditional grants, work-study, and tuition waivers. Tuition waivers represented about 48 percent of nongrant aid.
    • Abstract:
      ERIC
    • Publication Date:
      2024
    • Accession Number:
      ED645144