Use of financial aid continues to grow, though fewer students are borrowing for college
“Financial aid remains a lifeline for the vast majority of undergraduates, as the percentage of those relying on loans and grants to cover college costs continues to rise. A trove of data released Tuesday by the U.S. Department of Education’s National Center for Education Statistics shows 72 percent of undergraduate students received some form of financial aid in the 2015-2016 academic year, up from 71 percent in 2011-2012. The average amount of aid climbed to $12,300, from $10,800 four years earlier.”