July 10, 2007

State Student Aid Spending Up 7%

State spending on financial aid in 2005-6 rose by about 7 percent over the previous year, to $8.5 billion, an annual report by the National Association of State Student Grant and Aid Programs finds.

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Faculty: 3,532
Administrative: 1,671
Executive: 168
FEATURED EMPLOYERS

That is slightly less than the 8.1 percent increase that occurred from 2003-4 to 2004-5, and the growth shrinks further when inflation is taken into account. The increase from 2003-4 to 2004-5 amounted to an uptick of more than 5 percent when adjusted for inflation, while the rise from 2004-5 to 2005-6 was about 3 percent in inflation-adjusted dollars.

Funds for need-based grant aid rose by less than the total, about 5 percent, to about $7 billion in 2005-6 from about $6.7 billion in 2004-5. Funds increased significantly more — by more than 15 percent — for nongrant student aid, which includes loans, work study, and tuition waivers, among other things.

Seven states — California, Illinois, Indiana, New Jersey, New York, Pennsylvania and Texas — together distributed about $3.3 billion, or about 65 percent, of the undergraduate need-based grant aid distributed by all states.

The aid awarded by the 50 states, the District of Columbia, and Puerto Rico in 2005-6 follow:

Source: National Association of State Student Grant and Aid Programs

— Doug Lederman

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