From the News You Can Use Archives 05/15/07

One-Quarter of U.S. Undergraduates Do Not Receive Any Financial Aid
By Ian Crawford, Web Communications Editor

Three-quarters of undergraduates received some form of financial aid in the academic year 2004-05 and 45 percent took out loans to help pay for their education, according to the “first look” of statistics collected from postsecondary institutions that receive federal aid.

The report, compiled by the National Center for Education Statistics, counts almost 18 million students as having enrolled in Title IV institutions in the fall of 2005. Most are enrolled in four-year schools, over a third are at two-year colleges and less than 2 percent attend less-than-two-year institutions.

Enrollment at Title IV institutions by level of institution United States, fall 2005

Level of Institution	Total Number of Students	Percentage of Total
	17,921,804	100.0 percent
Four-year	10,999,924	61.4 percent
Two-year	6,613,596	36.9 percent
Less-than-two-year	308,284	1.7 percent

More undergraduates (75 percent) are receiving some type of financial aid in 2004-05 than in 2003-04 (74.2 percent). Students attending private, not-for-profit, four-year schools are most likely to receive financial aid, and those at private, for-profit colleges are more likely to take out loans. Undergraduates at public, two-year schools are least likely to receive any financial aid and, by quite a large margin, do not take out loans.

Percentage of full-time, first-time undergraduates and financial aid recipients at Title IV institutions, by type of aid and sector of institution: United States, academic year 2004-05

Institution Sector	Percentage receiving some type of financial aid, including grants and loans	Percentage who took out loans
All students	75.0 percent	45.3 percent
Private not-for-profit four-year	85.1 percent	59.8 percent
Private for-profit four-year	79.8 percent	73.6 percent
Public four-year	75.5 percent	44.3 percent
Public two-year	61.2 percent	17.5 percent

The report also collected data on graduation rates with private, not-for-profit, four-year colleges leading the way. Conversely, less than one-quarter of students at public, two-year institutions had graduated by spring 2006.

Graduation rates at Title IV institutions, by race/ethnicity, level and control of institution, and gender: United States, cohort years 1999 and 2002

Level of Institution		Graduation Rate
Four-year institutions (cohort year 1999)		55.9 percent
	Public	52.6 percent
	Private not-for-profit	63.5 percent
	Private for-profit	49.1 percent
Two-year institutions (cohort year 2002)		32.5 percent
	Public	23.9 percent
	Private not-for-profit	58.1 percent
	Private for-profit	58.1 percent

As this is a “first look” at quite a large set of statistics, there will be more in-depth studies of the data in the next few months.

Enrollment in Postsecondary Institutions, Fall 2005; Graduation Rates, 1999 and 2002 Cohorts; and Financial Statistics, Fiscal Year 2005 - National Center for Education Statistics.

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Story posted May 15, 2007.

 

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