For the academic year 2023-2024, 74% of students received grants and/or scholarships and its average aid amount is $18,485.
Compared to the percent of received 10 years ago, similar percent of students received the financial aid. The average financial aid amount has increased from $11,435 to $17,467 at Indiana Colleges.
The following table and chart show the trends of financial aid for all undergraduate students at Indiana Colleges since 2014. For that period, the average number of students who received grants aid/scholarships is 172,520, which is 73.78 % of all undergraduate students.
114,607 students which is 52.78% of undergraduate students received federal student loans and the average loan amount: $6,942.
| Year | Grant or Scholarship* | Pell Grants | Federal Student Loans | |||
|---|---|---|---|---|---|---|
| Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | |
| 2014-15 | 171,715 (74%) | $11,435 | 85,931 (43%) | $3,968 | 132,597 (60%) | $7,273 |
| 2015-16 | 168,139 (73%) | $12,634 | 79,201 (39%) | $4,005 | 123,635 (56%) | $7,248 |
| 2016-17 | 166,166 (72%) | $12,551 | 75,243 (37%) | $3,958 | 118,587 (56%) | $7,250 |
| 2017-18 | 157,795 (72%) | $14,182 | 71,895 (36%) | $4,218 | 109,426 (54%) | $7,255 |
| 2018-19 | 173,610 (72%) | $15,018 | 84,519 (35%) | $4,299 | 116,999 (52%) | $6,963 |
| 2019-20 | 180,992 (74%) | $15,277 | 82,113 (34%) | $4,347 | 116,167 (50%) | $6,612 |
| 2020-21 | 181,047 (76%) | $16,319 | 79,140 (33%) | $4,570 | 111,176 (50%) | $6,824 |
| 2021-22 | 183,783 (77%) | $16,842 | 74,057 (32%) | $4,580 | 103,241 (49%) | $6,560 |
| 2022-23 | 169,432 (74%) | $17,467 | 71,269 (31%) | $4,820 | 99,639 (48%) | $6,493 |
| Average | 172,520 (73.78%) | $14,636 | 78,152 (35.56%) | $4,307 | 114,607 (52.78%) | $6,942 |
Over the past 10 years, on average, 36,742 (86.67 % of students) received grants or scholarships and its average amount is $16,572. It can cover 82.94% of tuition & fees ($19,981) based on out-of-state rate. In addition, 24,019 (60.89 % of students) students get helped from the students loans (average amount : $7,061).
| Year | Grants or Scholarships* | Student Loans | ||
|---|---|---|---|---|
| Number Received (percent**) | Average Amount | Number Received (percent**) | Average Amount | |
| 2014-15 | 34,370 (83%) | $12,627 | 27,110 (68%) | $7,166 |
| 2015-16 | 35,314 (86%) | $14,036 | 25,948 (65%) | $6,989 |
| 2016-17 | 35,478 (86%) | $15,603 | 25,898 (65%) | $7,212 |
| 2017-18 | 37,280 (88%) | $16,871 | 25,083 (62%) | $7,048 |
| 2018-19 | 37,768 (85%) | $16,773 | 24,364 (57%) | $7,070 |
| 2019-20 | 37,541 (88%) | $17,559 | 23,066 (59%) | $7,149 |
| 2020-21 | 37,941 (88%) | $17,963 | 21,570 (57%) | $6,720 |
| 2021-22 | 38,475 (89%) | $18,394 | 21,530 (58%) | $6,932 |
| 2022-23 | 36,514 (87%) | $19,319 | 21,598 (57%) | $7,264 |
| Average | 36,742 (86.67%) | $16,572 | 24,019 (60.89%) | $7,061 |
The following table shows the trends of grants or scholarships over time. Over the past 10 years, on average, 15,472 (43.22 % of students) received Pell (federal) grants and its average amount is $4,574. In addition, 12,967 students received State/local government grants/scholarships (31.00 % of students).
| Year | Federal (Pell) Grants | Other Federal | State/Local government | Institutional | ||||
|---|---|---|---|---|---|---|---|---|
| Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | |
| 2014-15 | 17,126 (49%) | $4,355 | 6,319 (20%) | $1,069 | 12,755 (27%) | $5,148 | 26,074 (62%) | $10,158 |
| 2015-16 | 16,300 (45%) | $4,310 | 6,550 (21%) | $1,044 | 13,085 (27%) | $5,504 | 27,992 (70%) | $11,550 |
| 2016-17 | 15,548 (42%) | $4,345 | 6,441 (21%) | $1,093 | 12,739 (29%) | $5,602 | 29,115 (76%) | $12,750 |
| 2017-18 | 16,432 (43%) | $4,502 | 6,513 (17%) | $1,108 | 14,195 (35%) | $6,727 | 30,401 (75%) | $13,312 |
| 2018-19 | 16,214 (41%) | $4,529 | 6,785 (17%) | $1,148 | 13,560 (33%) | $6,348 | 32,499 (75%) | $13,607 |
| 2019-20 | 15,683 (44%) | $4,683 | 15,938 (39%) | $1,311 | 13,529 (32%) | $6,619 | 31,090 (72%) | $13,536 |
| 2020-21 | 14,187 (44%) | $4,694 | 20,931 (40%) | $1,424 | 12,445 (32%) | $6,564 | 29,921 (73%) | $14,316 |
| 2021-22 | 13,823 (41%) | $4,684 | 22,147 (45%) | $1,803 | 12,113 (32%) | $6,483 | 31,085 (78%) | $15,752 |
| 2022-23 | 13,938 (40%) | $5,068 | 8,624 (24%) | $1,078 | 12,283 (32%) | $6,621 | 32,280 (77%) | $15,775 |
| Average | 15,472 (43.22%) | $4,574 | 11,139 (27.11%) | $1,231 | 12,967 (31.00%) | $6,180 | 30,051 (73.11%) | $13,417 |
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. Over the past 10 years, on average, 24,019 (60.89 % of students) get any students loan help and its average loan amount is $24,019.
| Year | Total | Federal student loans | Other student loans | |||
|---|---|---|---|---|---|---|
| Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | Number Received (percent) | Average Amount | |
| 2014-15 | 27,110 (68%) | $7,166 | 26,821 (67%) | $6,283 | 3,199 (8%) | $9,979 |
| 2015-16 | 25,948 (65%) | $6,989 | 25,576 (64%) | $6,001 | 3,351 (8%) | $10,176 |
| 2016-17 | 25,898 (65%) | $7,212 | 25,460 (64%) | $6,022 | 4,110 (9%) | $10,367 |
| 2017-18 | 25,083 (62%) | $7,048 | 24,615 (61%) | $5,763 | 3,914 (8%) | $10,860 |
| 2018-19 | 24,364 (57%) | $7,070 | 23,794 (56%) | $5,537 | 4,563 (9%) | $10,969 |
| 2019-20 | 23,066 (59%) | $7,149 | 22,510 (58%) | $5,568 | 3,930 (9%) | $11,736 |
| 2020-21 | 21,570 (57%) | $6,720 | 21,007 (56%) | $5,292 | 3,503 (8%) | $11,873 |
| 2021-22 | 21,530 (58%) | $6,932 | 20,872 (57%) | $5,362 | 3,544 (8%) | $13,065 |
| 2022-23 | 21,598 (57%) | $7,264 | 20,861 (55%) | $5,541 | 3,603 (9%) | $14,062 |
| Average | 24,019 (60.89%) | $7,061 | 23,502 (59.78%) | $5,708 | 3,746 (8.44%) | $11,454 |