Student Loans Financial Aid
Posted in Financial Aid on April 7th, 2012 by admin – Comments Off
According to a new report by the College Board, both student loans and other types of college financial aid rose in the 2009–10 academic year, although this increase in student aid was largely offset by rising college costs, which increased by about 6 percent.
The College Board (http://trends.collegeboard.org/), in its annual “Trends in Student Aid” report, estimates that a total of 4.5 billion in student financial aid was distributed in 2009–10. Grants now comprise about 50 percent of student financial aid from all sources, both federal and private sector.
In 2009–10, the average undergraduate student financial aid package was worth nearly ,500. This figure includes more than ,000 in grants and more than ,800 in government-backed federal student loans (http://www.nextstudent.com/student-loans/student-loans.asp). Graduate students received slightly more financial assistance, on average, in the form of grants — nearly ,400 — but also borrowed more heavily. The average graduate student took out more than ,700 in graduate student loans.
