States Increase Student Aid Spending at Slower Rate
July 24, 2007
State spending on student financial aid increased by more than 7 percent in 2005-06--a slower rate than the 8 percent increase experienced in 2004-05, according to the National Association of State Student Grant and Aid Programs' 36th Annual Survey Report on state-sponsored student financial aid. States awarded $8.5 billion in state financial aid, the majority of which (82 percent) continues to be in the form of grants.
Other findings include:
- Of the state grant funds awarded, 73 percent were need-based and 27 percent were non-need-based, the same percentage as seen in 2004-05.
- State spending on aid in the form of grants climbed by 5.4 percent in 2005-06, while spending on nongrant aid surged by 15.6 percent. Loans and tuition waivers accounted for 69 percent of nongrant funds awarded.
- California, Illinois, Indiana, New Jersey, New York, Pennsylvania, and Texas accounted for 65 percent of the total undergraduate need-based grant aid in the United States.
- South Carolina, Washington, D.C., Georgia, New York, and Indiana provided the greatest amount of grant aid on a per capita basis.
The full results are available on the NASSGAP Web site.
- Congress Finalizes FY15 Federal Budget
- ED Proposes Changes to Rules on Teacher Preparation Programs
- The Wait Continues on Tax Extenders and Terrorism Risk Insurance Renewal
- 2015 Intermediate Accounting and Reporting - Winter
January 22-23, 2015
- 2015 Endowment and Debt Management Forum
February 4-6, 2015
- 2015 Unrelated Business Income Tax
February 25-27, 2015
- ON-DEMAND: How to Build, Develop, and Support a Compliance Program at Your Institution
- ON-DEMAND: Strategic Tuition Assessment and Tuition Restructuring
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis