Total Undergraduate Student Aid by Source and Type over Time

Between 2012-13 and 2017-18, institutional grant aid for undergraduate students increased by $10.4 billion in 2017 dollars (27%), rising from 20% to 26% of total financial aid to undergraduates.

Figure 3: Total Undergraduate Student Aid in 2017 Dollars by Source and Type (in Billions), 1997-98 to 2017-18

Notes & Sources 

NOTE: Percentages may not sum to 100 because of rounding.

SOURCES: Table 1.
 

  • Total institutional grant aid to undergraduates rose by 48% ($12.4 billion in 2017 dollars) between 2007-08 and 2012-13 and by another 27% ($10.4 billion) between 2012-13 and 2017-18.
  • Pell Grants rose by 99% ($17.0 billion in 2017 dollars) over the first half of the past decade and then declined by 18% ($6.0 billion).
  • Federal loans rose by 41% ($21.1 billion in 2017 dollars) between 2007-08 and 2012-13 before declining by 23% ($16.4 billion) over the next five years. Federal loans declined from 41% to 30% of total aid to undergraduates over the decade.
  • The largest percentage growth in aid to undergraduates between 2007-08 and 2017-18 was in veterans benefits, which more than tripled, from $3.0 billion (in 2017 dollars) in 2007-08 to $10.8 billion in 2017-18. Federal tax credits and deductions doubled from $7.6 to $15.5 billion.