This is a segment of Bautis Financial’s college planning series, which includes webinars, podcast episodes, blog posts and downloadables to aid college-bound students and families in the admissions process. Visit our college planning hub for more valuable resources.
Throughout the month of February, the higher education community celebrates Financial Aid Awareness Month in an effort to provide crucial information to students and families about access to federal, state, and institutional student aid.
Here are some facts about financial aid that you may not know.
Fast Facts About Financial Aid
- 70% of full-time, first-year undergraduate students in 2021-2022 were awarded some type of financial aid.
- The majority of students awarded financial aid received federal grants.
- The average federal grant award for undergraduate students has more than doubled to $8,890 in 2022, from $4,335 in 2001.
- Student aid estimates for 2022-2023 show that average federal grant aid has increased to $10,677.
- In 2020-2021, the average grant and scholarship aid awarded was highest at private, nonprofit four-year institutions for students in households earning $30,001-$48,000 per year.
- 42% of undergraduate students who were awarded aid received federal student loans during the 2021-2022 academic year.
Whether you’re a student or know someone who is, it’s worth it to take the time to explore available financial aid resources. A great place to start is our College Planning Hub, which includes webinars, podcast episodes, blog posts and downloadable to aid college-bound students and families in the admissions process..
Knowledge is power, and financial aid can make a significant impact on your path to success.
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