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Document Number: 7122 36th Annual Survey Report on State-Sponsored Student Financial Aid - This report provides data regarding state-funded expenditures for student financial aid and illustrates the importance of efforts made by the states to assist postsecondary students. Information is based on academic year 2004-05 data. Selected highlights: (1) In 2004-05, the states awarded about $7.9 billion in total state-funded student financial aid, an increase of more than 8% in nominal terms from the $7.3 billion in aid awarded in 2003-04 and an increase of about 6% in constant dollar terms; (2) Funding for undergraduate need-based grant aid increased to $445 million nationwide from about $4.2 billion in 2003-04 to more than $4.7 billion in 2004-05, an increase of more than 10%; and (3) Eight states – California, Illinois, Indiana, New Jersey, New York, Ohio, Pennsylvania and Texas – collectively awarded more than $3.1 billion in undergraduate need-based grant aid, accounting for about 67% of all aid of this type. (National Association of State Student Grant & Aid Programs, 2006) ...Related Issues Postsecondary Affordability |
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