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Financial aid increases, but assistance goes to higher-income students

May 6, 2003


Four-year universities have increased the amount of financial aid given to colleges, but students from families with higher incomes are getting the bulk of the funds, says a newly released report.

According to a U.S. Department of Education report titled "What Colleges Contribute," 23 percent of students receive aid, up from 17 percent, and average aid has grown from $2,200 per student to $2,700 per student.
May 6, 2003


Four-year universities have increased the amount of financial aid given to colleges, but students from families with higher incomes are getting the bulk of the funds, says a newly released report.

According to a U.S. Department of Education report titled "What Colleges Contribute," 23 percent of students receive aid, up from 17 percent, and average aid has grown from $2,200 per student to $2,700 per student.

Most of the increases were given out on the basis on merit, rather than need, and thus went to students whose families have a higher income, according to the report.

For the complete report, go to
http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2003157