By Lauren FinkIn what could be a harbinger of things to come, a new analysis finds colleges are increasingly providing financial aid for their student population.
Financial aid packages typically range from $1,000 to $2,500 depending on a college’s size, and for most of the top-tier programs, students have access to the most affordable financial aid package available.
According to the latest report from the College Board, colleges have increased their financial aid offerings to their students for the fourth straight year, with the average financial aid grant for a typical student at a $10,000 school going from $9,000 in 2016 to $11,500 this year.
The report also shows that the average number of students receiving aid each year has increased to more than 50 percent of students nationwide.
For the fourth consecutive year, the average cost of tuition at a public four-year college has increased, and the average amount of student aid for the 2017-18 academic year is expected to surpass $1 million.
This report is based on data from the most recent College Board annual survey.
The survey asked students how much they would spend on college in 2020-21, and it also tracked the percentage of students who applied for financial aid in the previous year.
To read the full report, click here: