Financial Aid Trends for Alabama Colleges

-1%

Received Percent Changed

$2,583

Received Amount Changes

For the academic year 2023-2024, 79% of students received grants and/or scholarships and its average aid amount is $11,025.

Compared to the percent of received 10 years ago, less students received the financial aid from 80% to 79%. The average financial aid amount has increased from $7,266 to $9,849 at Alabama Colleges.

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Alabama Colleges since 2014. For that period, the average number of students who received grants aid/scholarships is 116,840, which is 78.44 % of all undergraduate students.

80,757 students which is 59.00% of undergraduate students received federal student loans and the average loan amount: $7,151.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-15115,141 (80%)$7,26662,586 (55%)$3,99790,397 (67%)$7,309
2015-16113,137 (77%)$7,26058,517 (51%)$3,93287,581 (63%)$6,949
2016-17116,400 (79%)$7,81256,705 (50%)$3,93587,030 (64%)$7,062
2017-18118,147 (79%)$8,77658,324 (51%)$4,36485,196 (62%)$7,698
2018-19118,907 (76%)$8,89456,589 (47%)$4,55282,633 (58%)$7,497
2019-20118,575 (78%)$9,63755,875 (47%)$4,64980,228 (57%)$7,435
2020-21116,089 (77%)$9,18251,393 (43%)$4,66374,828 (55%)$6,880
2021-22121,775 (81%)$9,63650,300 (45%)$4,67570,696 (53%)$6,639
2022-23113,392 (79%)$9,84949,002 (44%)$5,07168,222 (52%)$6,888
Average116,840 (78.44%)$8,70155,477 (48.11%)$4,42680,757 (59.00%)$7,151
*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.

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

Over the past 10 years, on average, 23,857 (90.67 % of students) received grants or scholarships and its average amount is $10,119. It can cover 45.76% of tuition & fees ($22,113) based on out-of-state rate. In addition, 15,156 (66.33 % of students) students get helped from the students loans (average amount : $6,918).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-1522,403 (88%)$8,28216,322 (72%)$6,582
2015-1623,011 (90%)$9,38816,019 (68%)$6,643
2016-1723,306 (87%)$9,44816,308 (67%)$6,390
2017-1823,620 (92%)$10,23116,254 (72%)$6,908
2018-1923,044 (91%)$10,06015,227 (69%)$6,856
2019-2024,621 (94%)$10,31414,825 (67%)$7,308
2020-2123,480 (89%)$11,12413,334 (61%)$7,105
2021-2225,662 (92%)$11,13613,871 (60%)$7,082
2022-2325,565 (93%)$11,08914,243 (61%)$7,388
Average23,857 (90.67%)$10,11915,156 (66.33%)$6,918
*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.

The following table shows the trends of grants or scholarships over time. Over the past 10 years, on average, 10,086 (54.33 % of students) received Pell (federal) grants and its average amount is $4,734. In addition, 2,259 students received State/local government grants/scholarships (22.56 % of students).

YearFederal (Pell) GrantsOther Federal State/Local governmentInstitutional
Number Received (percent)Average AmountNumber Received (percent)Average Amount Number Received (percent)Average AmountNumber Received (percent)Average Amount
2014-1510,968 (61%)$4,1892,695 (21%)$1,0502,301 (25%)$1,27417,476 (64%)$6,818
2015-1610,536 (55%)$4,4302,651 (17%)$1,1202,052 (22%)$1,04118,252 (69%)$7,684
2016-179,845 (51%)$4,2692,274 (18%)$1,2112,037 (25%)$2,06818,684 (70%)$8,443
2017-1810,200 (57%)$4,5592,184 (19%)$1,6201,961 (22%)$2,03119,512 (73%)$9,174
2018-1910,194 (58%)$4,8282,395 (20%)$1,5562,306 (24%)$1,89219,023 (68%)$8,392
2019-209,898 (54%)$4,8788,475 (34%)$1,4102,317 (25%)$1,85720,016 (72%)$8,558
2020-219,150 (49%)$4,9846,370 (33%)$1,6732,193 (21%)$1,74620,896 (76%)$8,988
2021-229,846 (51%)$5,1328,770 (28%)$1,6892,402 (19%)$1,87522,848 (80%)$8,499
2022-2310,140 (53%)$5,3392,731 (19%)$1,5302,763 (20%)$1,97323,205 (79%)$9,340
Average10,086 (54.33%)$4,7344,283 (23.22%)$1,4292,259 (22.56%)$1,75119,990 (72.33%)$8,433

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, 15,156 (66.33 % of students) get any students loan help and its average loan amount is $15,156.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-1516,322 (72%)$6,58216,084 (71%)$5,9991,372 (5%)$9,858
2015-1616,019 (68%)$6,64315,657 (66%)$5,8451,641 (7%)$10,615
2016-1716,308 (67%)$6,39015,863 (65%)$5,6141,639 (7%)$11,253
2017-1816,254 (72%)$6,90815,814 (71%)$6,1631,690 (6%)$11,268
2018-1915,227 (69%)$6,85614,883 (68%)$5,9341,794 (6%)$11,295
2019-2014,825 (67%)$7,30814,313 (65%)$6,1841,991 (7%)$13,008
2020-2113,334 (61%)$7,10512,974 (60%)$6,0971,477 (5%)$13,802
2021-2213,871 (60%)$7,08213,431 (59%)$6,0081,688 (5%)$13,376
2022-2314,243 (61%)$7,38813,791 (60%)$6,2441,915 (5%)$14,369
Average15,156 (66.33%)$6,91814,757 (65.00%)$6,0101,690 (5.89%)$12,094