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Report: “45th Annual Survey Report on State-Sponsored Student Financial Aid”
Organization: National Association of State Student Grant and Aid Programs
Summary: This survey of aid programs for the 2013-14 academic year found the amount states awarded to students increased by 1.6 percent, adjusted for inflation, to $11.7 billion, compared with $11.2 billion awarded the previous year.
Seventy-five percent of the undergraduate grant aid awarded by states was based fully or partly on need, which was roughly the same percentage as the previous year. Meanwhile, 85 percent of state aid came in the form of grants, and funding for undergraduate need-based grant aid increased about 5.8 percent, to $7.4 billion.
Bottom Line: Following the recent economic recession, states are continuing to put more money back into student aid, with need-based aid representing the larger share.
