Michigan Colleges Financial Aid Trends

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Michigan Colleges since 2013. For that period, the average number of students who received grants aid/scholarships is 219,116, which is 78.22 % of all undergraduate students. 159,887 students which is 56.22% of undergraduate students received federal student loans and the average loan amount: $7,206.

Year	Grant or Scholarship^*		Pell Grants		Federal Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	222,476 (78%)	$9,122	122,640 (44%)	$3,942	191,530 (64%)	$7,686
2014-15	236,701 (78%)	$9,663	132,892 (44%)	$3,953	200,505 (64%)	$7,526
2015-16	225,090 (75%)	$9,996	120,319 (38%)	$4,055	183,900 (59%)	$7,457
2016-17	219,690 (75%)	$10,612	110,666 (37%)	$4,092	174,050 (59%)	$7,449
2017-18	211,965 (76%)	$11,165	106,141 (38%)	$4,191	163,355 (57%)	$7,157
2018-19	208,089 (76%)	$12,039	99,662 (35%)	$4,437	150,187 (53%)	$7,054
2019-20	212,364 (80%)	$12,721	93,509 (34%)	$4,542	140,964 (53%)	$6,931
2020-21	212,898 (82%)	$12,788	84,452 (32%)	$4,600	123,737 (50%)	$6,913
2021-22	222,774 (84%)	$13,898	80,680 (32%)	$4,615	110,754 (47%)	$6,685
Average	219,116 (78.22%)	$11,334	105,662 (37.11%)	$4,270	159,887 (56.22%)	$7,206

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time

Overview

For the last 10 years, on average, 41,891 (90.56 % of students) received grants or scholarships and its average amount is $13,492. It can cover 61.63% of tuition & fees ($21,892) based on out-of-state rate. In addition, 27,991 (62.11 % of students) students get helped from the students loans (average amount : $7,412).

Year	Grants or Scholarships^*		Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	40,259 (87%)	$10,653	31,071 (67%)	$7,338
2014-15	42,405 (88%)	$11,013	31,909 (68%)	$7,277
2015-16	41,979 (89%)	$12,049	30,442 (65%)	$7,386
2016-17	42,524 (88%)	$12,837	30,569 (65%)	$7,594
2017-18	40,868 (90%)	$13,704	29,419 (62%)	$7,413
2018-19	41,610 (90%)	$14,138	28,501 (62%)	$7,386
2019-20	42,060 (93%)	$15,266	26,623 (61%)	$7,550
2020-21	40,298 (94%)	$15,722	21,908 (55%)	$7,466
2021-22	45,014 (96%)	$16,043	21,477 (54%)	$7,299
Average	41,891 (90.56%)	$13,492	27,991 (62.11%)	$7,412

^*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.

^**percentage of number of students receiving aids among all undergraduate students.

Grants/Scholarship

The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 17,851 (41.89 % of students) received Pell (federal) grants and its average amount is $4,578. In addition, 10,075 students received State/local government grants/scholarships (34.89 % of students).

Year	Federal (Pell) Grants		Other Federal		State/Local government		Institutional
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	19,626 (47%)	$4,322	7,350 (24%)	$892	12,153 (38%)	$2,338	34,745 (77%)	$8,690
2014-15	20,615 (49%)	$4,358	6,866 (22%)	$921	11,433 (37%)	$1,969	37,011 (74%)	$8,766
2015-16	19,346 (44%)	$4,469	7,119 (22%)	$978	10,400 (35%)	$2,176	37,187 (77%)	$9,408
2016-17	18,505 (40%)	$4,343	6,573 (20%)	$1,026	12,587 (37%)	$2,120	38,027 (78%)	$10,530
2017-18	18,017 (42%)	$4,489	6,677 (21%)	$1,069	9,576 (36%)	$2,378	37,061 (82%)	$11,086
2018-19	17,763 (40%)	$4,646	6,580 (20%)	$1,008	9,519 (33%)	$2,683	38,053 (81%)	$11,593
2019-20	17,101 (40%)	$4,761	15,606 (40%)	$1,177	9,583 (34%)	$3,081	37,901 (83%)	$12,095
2020-21	14,748 (36%)	$4,906	21,727 (51%)	$1,181	8,222 (33%)	$3,032	36,622 (84%)	$12,589
2021-22	14,937 (39%)	$4,906	25,576 (56%)	$1,619	7,198 (31%)	$3,212	40,625 (88%)	$12,730
Average	17,851 (41.89%)	$4,578	11,564 (30.67%)	$1,097	10,075 (34.89%)	$2,554	37,470 (80.44%)	$10,832

^*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.

^**percentage of number of students receiving aids among all undergraduate students..

Student Loans

The following table describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 27,991 (62.11 % of students) get any students loan help and its average loan amount is $27,991.

Year	Total		Federal student loans		Other student loans
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	31,071 (67%)	$7,338	30,790 (68%)	$6,439	2,900 (7%)	$10,836
2014-15	31,909 (68%)	$7,277	31,411 (68%)	$6,281	3,273 (9%)	$11,097
2015-16	30,442 (65%)	$7,386	29,922 (64%)	$6,018	3,386 (10%)	$11,584
2016-17	30,569 (65%)	$7,594	30,010 (64%)	$5,890	3,469 (12%)	$12,187
2017-18	29,419 (62%)	$7,413	28,873 (62%)	$5,692	3,805 (11%)	$11,904
2018-19	28,501 (62%)	$7,386	27,862 (60%)	$5,365	4,245 (12%)	$12,616
2019-20	26,623 (61%)	$7,550	25,985 (60%)	$5,436	4,384 (12%)	$12,654
2020-21	21,908 (55%)	$7,466	21,268 (54%)	$5,399	3,451 (11%)	$13,321
2021-22	21,477 (54%)	$7,299	20,820 (53%)	$5,454	3,299 (9%)	$13,681
Average	27,991 (62.11%)	$7,412	27,438 (61.44%)	$5,775	3,579 (10.33%)	$12,209

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Grants, Scholarships, and Student Loan Stats Trends for Michigan Colleges

All Undergraduate Students Financial Aid Over Time

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time