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Statistics Show that Students are Dependent on Financial Aid

July 30, 2007

According to a recent report, more than three-quarters of American undergraduate students receive some type of financial aid to assist them with paying for college. The report, which was released by the U.S. Department of Education's data collection and analysis division, also shows that financial aid comes from the federal government for more than 60% of these students.

The National Center for Education Statistics also reported in its Digest of Education Statistics for the 2005-2006 academic year that 54% of part-time undergraduates received financial aid. Of that 54%, 38% received federal aid.

According to Higher Education Washington, Inc.'s NewsLine, the Digest also reported the following statistics on financial aid:
  • Full-time students received an average of $9,899 per year in financial aid.

    • Of that aid, the average amount of federal aid was $7,304.

  • Almost 50% of full-time students borrowed educational loans.

    • 48.5% of full-time students took out federal loans.
    • 9% of full-time students took out private loans.

  • Part-time students received an average of $4,860 per year in financial aid.

    • Of that aid, the average amount of federal aid was $4,765.

  • 25% of part-time students borrowed educational loans.

    • Almost 24% of part-time students took out federal loans.
    • Almost 4% of part-time students took out private loans.

  • The average cost of public four-year universities is more than $13,000 per year.

  • The average cost of private four-year universities is more than $36,000 per year.
The entire report will be available in print on August 31; it can be accessed online now at

"Statistically, more and more students must turn to student loans to help fund their education," said EdFed loan counselor Jennifer Munson. "Luckily, EdFed is ready to help these students manage all of their student loan debt."

"EdFed offers several services to students and professionals to assist them with the loans that they borrowed to pay for their schooling," Munson added.

To learn more about the money- and time-saving services EdFed offers, visit or call 800-821-5659.

Media Contact:
Brooke Heath
EdFed 626-243-9423

About EdFed:

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Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

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