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Total student aid plus nonfederal loans for undergraduate students grew about 7% per year beyond inflation from 1990-91 to 2000-01 and again from 2000-01 to 2008-09. However, the growth of grant aid rose from 4.7% per year during the 1990-91 to 2000-01 decade to 6.3% per year in the more recent time period, while growth in education borrowing declined from 9.3% to 8.7% per year |
| Undergraduate Students (Current Dollars) | ||||||||||||||||||
| 90-91 | 95-96 | 00-01 | 05-06 | 06-07 | 07-08 | 08-09 | ||||||||||||
| Grants | $14,281 | $19,640 | $30,083 | $47,216 | $50,991 | $55,863 | $62,217 | |||||||||||
| Loans | $8,382 | $19,251 | $2,7071 | $52,751 | $57,185 | $63,611 | $67,018 | |||||||||||
| Work-Study | $697 | $690 | $840 | $929 | $920 | $941 | $1,036 | |||||||||||
| Education Tax Benefits | $0 | $0 | $,3570 | $5,330 | $5,570 | $5,700 | $5,870 | |||||||||||
| Total | $23,359 | $39,580 | $61,564 | $106,226 | $114,666 | $125,935 | $136,141 | |||||||||||
| Undergraduate Students (Constant 2008 Dollars) | ||||||||||||||||||
| 90-91 | 95-96 | 00-01 | 05-06 | 06-07 | 07-08 | 08-09 | ||||||||||||
| Grants | $24,089 | $28,330 | $38,291 | $53,147 | $55,115 | $58,799 | $62,217 | |||||||||||
| Loans | $14,138 | $27,759 | $34,458 | $59,382 | $61,815 | $67,172 | $67,018 | |||||||||||
| Work-Study | $1,176 | $995 | $1,070 | $1,046 | $995 | $993 | $1,036 | |||||||||||
| Education Tax Benefits | $0 | $0 | $4,540 | $6,000 | $6,020 | $6,020 | $5,870 | |||||||||||
| Total | $39,403 | $57,084 | $78,358 | $119,575 | $123,944 | $132,985 | $136,141 | |||||||||||
| Undergraduate Students (Percentage) | ||||||||||||||||||
| 90-91 | 95-96 | 00-01 | 05-06 | 06-07 | 07-08 | 08-09 | ||||||||||||
| Grants | 61% | 50% | 49% | 44% | 44% | 44% | 46% | |||||||||||
| Loans | 36% | 49% | 44% | 50% | 50% | 51% | 49% | |||||||||||
| Work-Study | 3% | 2% | 1% | 1% | 1% | 1% | 1% | |||||||||||
| Education Tax Benefits | 0% | 0% | 6% | 5% | 5% | 5% | 4% | |||||||||||
| Total | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |||||||||||
Note: Nonfederal loans are included in loan amounts. Percentages may not sum to 100% due to rounding. For years before 1995-96, loan dollars are an estimate based on loan net commitments.
Download Excel for this table. Download Excel for all figures and tables. This figure was prepared in October 2009. - From 2005-06 through 2008-09, grant aid has consistently constituted 44% to 46% of the combined funds from all student aid and nonfederal loans for undergraduate students.
- Grant aid declined from 61% to 50% of total funds for undergraduates between 1990-91 and 1995-96, primarily because of the introduction of unsubsidized Stafford Loans.
