Seventy-two percent of all undergraduate students received some type of financial aid, including loans, in the 2015–16 academic year. For those who received aid, the average was about $12,300 per student. If you want to explore more statistics on student financial aid, you can! NCES has released new data from the 2015–16 National Postsecondary Student Aid Study (NPSAS:16). Data users have the ability to generate estimates and perform their own analyses using our online data analysis tools available in DataLab. Users can select the tool that best meets their needs, including PowerStats, QuickStats, and TrendStats.
NPSAS is the most comprehensive nationally representative study of how students and their families finance postsecondary education in the United States. The NPSAS:16 sample consisted of approximately 113,000 undergraduate and graduate students attending 1,800 postsecondary institutions in the 50 states, the District of Columbia, and Puerto Rico.
In addition to information on financial aid, the study collects data on many other topics, such as student demographics, total and net prices of attendance, education-related debt, major field of study, employment while enrolled, and participation in remedial education.
To enhance the data and address emerging policy issues, NCES has also included new and expanded items on these topics in NPSAS:16:
- Financial literacy, including questions to measure understanding of key financial concepts such as inflation, interest rates, and investment, plus questions on the possible consequences for failing to repay federal student loans;
- Alternative repayment options for federal loans, including awareness of and plans to use income-driven repayment and public service loan forgiveness;
- Student veterans and military students, including an oversample of student veterans, measures of federal veterans’ education benefits derived from administrative sources, indicators of whether institutions offer programs targeted to veterans and military students, and new measures of state and institution aid specifically for student veterans; and
- Study abroad, including the location and duration of time spent abroad.
A First Look report, which was released in January, highlighted key findings from the study. For more information on how the study was planned and conducted, including extensive details on sampling, data collection, response rates, weighting, and other topics, we encourage you to see the 2015–16 National Postsecondary Student Aid Study (NPSAS:16) Data File Documentation report.
By Tracy Hunt-White