Thanks to a recent federal spending plan, students with financial need could receive an additional $600. According to NASFAA (the National Association of Student Aid Financial Administrators), roughly half of American Indian/Alaska Native and Hispanic students receive a Pell grant each year. Additionally, first-generation college students, student parents, and almost 40% of student veterans are Pell Grant recipients.
In 2020-21, approximately 6.4 million students received a Pell Grant. During the same year, the average grant amount was $4,166, and total federal expenditures for the program totaled $26.5 billion.
In the 2021-22 award year, Pell Grants ranged from $650 to $6,495. In 2022-23, Pell Grant amounts will range from $692 to $6,895. The Pell Grant amount students receive is based on their institution’s cost of attendance and family’s financial need.
Schools typically determine a student’s Pell Grant eligibility before calculating eligibility for other federal student aid programs. NASFAA has asked Congress to double the maximum Pell Grant to $13,000 and restore its purchasing power.
One recent study found the average financial aid package offered to students with financial needs at U.S. colleges was almost $21,000. According to LendingTree, among the top 50 colleges found to offer the most student aid, the annual tuition and fees were $47,000, compared to the average in-state tuition and fees, which comes to just under $10,000.
Other key findings of the LendingTree study showed that 50 of the top schools were private colleges or universities. All Ivy League schools made the list, with Columbia University leading by offering aid packages averaging $55,521. Of the top 50 colleges with the largest financial aid packages, 46 reported meeting the full demonstrated financial need for every qualifying student.
With a full-time equivalent undergraduate student enrollment that is at least 25 percent Hispanic, the University of Arizona (UArizona) was designated as a Hispanic Serving Institution (HSI) in 2018. HSIs are not-for-profit institutions of higher learning.
UArizona is ranked as a premier public research and development institution in the southwestern state, with total research expenditures of over $730 million. Of almost 50,000 students, 36, 000 are undergraduates and more than 10,000 are graduates. Nine out of 10 students receive financial aid.
“For most students planning to attend college or career school, financial aid is essential,” states Federal Student Aid, an office of the U.S. Department of Education. Like most colleges, UArizona uses Free Application for Federal Student Aid (FAFSA) data to award aid. But here’s a list of the different types of scholarships and financial aid at UAriozna:
Federal Work Study (FWS)
Last June, UArizona and 19 other top U.S. research universities announced the formation of the Alliance of Hispanic Serving Research Universities, dedicated to increasing opportunities for a population that has been historically underserved by higher education.
DYK | Applying for the FAFSA before your school's priority date increases your chance of receiving need-based aid.@ASU priority date: January 15@NAU priority date: April 1@UArizona priority date: March 1 (continuing students), April 1 (freshman)
— Arizona Board of Regents (@AZRegents) December 27, 2022
According to the @NSF, @uazresearch once again ranks among the nation's best.
🔭 No. 1 in astronomy/astrophysics
📈 $770M in total expenditures
⏫ No. 20 among public universitiesRead more: https://t.co/wUKiKhJZlf
— University of Arizona (@uarizona) December 19, 2022
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