Graduate Students Rely More on Federal Loans Than Do Undergraduates

HOME: ▶ Almanac 2011	SECTIONS: ▶ Finance	▶ The Profession	▶ Student Demographics
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Student-aid revenues and expenditures, 2009-10

HOW THE AID WAS FINANCED

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HOME: ▶ Almanac 2011	SECTIONS: ▶ Finance	▶ The Profession	▶ Student Demographics
	▶ Access and Equity	▶ Technology	▶ International

Student-aid revenues and expenditures, 2009-10

HOW THE AID WAS FINANCED

Chronicle of Higher Education

Note: Nonfederal loans are not included because they involve no subsidies from any source. Graduate students are not eligible to receive Pell Grants.
Source: The College Board

HOW THE FEDERAL AID WAS SPENT

	Undergraduate students			Graduate students
GRANTS
	Average per recipient	Number of recipients	Total spending	Average per recipient	Number of recipients	Total spending
Pell Grants	$3,706	8,094,000	$29,992,000,000	n/a	n/a	n/a
Smart Grants	$3,125	115,000	$359,000,000	n/a	n/a	n/a
Federal Work-Study	$1,626	676,000	$1,099,000,000	$2,574	57,000	$148,000,000
Academic Competitiveness Grants	$760	631,000	$479,000,000	n/a	n/a	n/a
Supplemental Educational Opportunity Grants*	$475	1,593,000	$758,000,000	n/a	n/a	n/a
Education tax credits and deductions	n/a	n/a	$5,990,000,000	n/a	n/a	$980,000,000
Note: The designation “n/a” means not available or not applicable.
LOANS
	Average per borrower	Number of borrowers	Total amount	Average per borrower	Number of borrowers	Total amount
Parent Loans for Undergraduate Students**	$11,538	759,525	$8,763,265,086	$17,778	303,857	$5,401,990,437
Stafford Student Loans
All loans	$6,545	8,575,794	$56,129,659,651	$15,888	1,592,428	$25,300,132,995
Subsidized loans	$3,556	7,400,477	$26,312,870,131	$7,171	1,454,287	$10,428,030,016
Unsubsidized loans	$4,165	7,158,035	$29,816,789,520	$11,028	1,348,618	$14,872,102,979
Perkins Loans	$1,707	383,250	$654,393,937	$2,796	59,000	$164,000,000
* Does not include portions of awards financed by institutions.
** These loans are available to both undergraduate and graduate students.
Note: Some figures are estimates. Figures for federal aid shown under “How the Aid Was Financed” may not exactly match those in “How the Federal Aid Was Spent,” which includes revised versions of the same data. Percentages and grant figures are rounded. Federal loan amounts reflect disbursements, not loan commitments. The designation “n/a” means data were not available or applicable.
Source: U.S. Education Department