Financial Aid Trends for Illinois Colleges

4%

Received Percent Changed

$6,655

Received Amount Changes

For the academic year 2023-2024, 82% of students received grants and/or scholarships and its average aid amount is $19,378.

Compared to the percent of received 10 years ago, more students received the financial aid from 77% to 81%. The average financial aid amount has increased from $11,665 to $18,320 at Illinois Colleges.

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Illinois Colleges since 2014. For that period, the average number of students who received grants aid/scholarships is 225,725, which is 80.22 % of all undergraduate students.

156,396 students which is 60.11% of undergraduate students received federal student loans and the average loan amount: $7,294.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-15230,055 (77%)$11,665120,952 (43%)$3,941189,130 (67%)$7,605
2015-16227,607 (77%)$12,011115,302 (41%)$4,054180,433 (65%)$7,809
2016-17223,455 (76%)$12,528109,915 (40%)$4,046171,682 (62%)$7,541
2017-18220,624 (79%)$13,909107,790 (41%)$4,242162,303 (63%)$7,591
2018-19219,489 (81%)$14,635107,175 (40%)$4,404153,928 (60%)$7,216
2019-20229,905 (83%)$15,190105,417 (39%)$4,418148,942 (58%)$7,054
2020-21229,621 (83%)$16,125104,263 (39%)$4,634139,550 (56%)$7,110
2021-22231,038 (85%)$17,263104,469 (39%)$4,551132,237 (56%)$6,778
2022-23219,729 (81%)$18,320103,587 (39%)$4,842129,361 (54%)$6,939
Average225,725 (80.22%)$14,627108,763 (40.11%)$4,348156,396 (60.11%)$7,294
*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, 41,637 (90.67 % of students) received grants or scholarships and its average amount is $17,822. It can cover 91.12% of tuition & fees ($19,559) based on out-of-state rate. In addition, 26,736 (65.00 % of students) students get helped from the students loans (average amount : $7,021).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-1542,298 (88%)$13,77031,790 (70%)$7,032
2015-1640,536 (87%)$14,29729,956 (71%)$7,213
2016-1740,062 (90%)$15,30928,934 (70%)$7,320
2017-1840,031 (90%)$17,15527,498 (68%)$7,187
2018-1940,469 (91%)$18,21326,690 (67%)$6,931
2019-2043,048 (93%)$19,13426,010 (63%)$6,830
2020-2142,162 (93%)$19,75822,791 (60%)$6,720
2021-2243,009 (92%)$20,70523,634 (59%)$6,843
2022-2343,117 (92%)$22,05923,322 (57%)$7,117
Average41,637 (90.67%)$17,82226,736 (65.00%)$7,021
*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, 19,089 (47.44 % of students) received Pell (federal) grants and its average amount is $4,689. In addition, 17,802 students received State/local government grants/scholarships (38.56 % 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
2014-1519,831 (48%)$4,3966,260 (21%)$1,27717,035 (35%)$4,17238,842 (76%)$10,677
2015-1619,130 (48%)$4,4426,159 (21%)$1,24215,922 (34%)$4,07237,249 (77%)$11,342
2016-1718,289 (48%)$4,3896,126 (22%)$1,23616,306 (37%)$3,99336,924 (81%)$12,161
2017-1818,900 (48%)$4,5826,547 (23%)$1,24617,211 (37%)$4,45136,774 (81%)$13,882
2018-1918,846 (48%)$4,6317,058 (23%)$1,15617,546 (38%)$4,43937,897 (83%)$14,960
2019-2019,407 (46%)$4,75618,744 (43%)$1,21419,589 (40%)$4,91339,926 (83%)$15,029
2020-2118,022 (47%)$4,83919,791 (45%)$1,18918,286 (42%)$4,99040,021 (83%)$15,979
2021-2219,268 (47%)$5,00121,060 (45%)$1,52418,662 (42%)$5,11940,520 (86%)$17,077
2022-2320,107 (47%)$5,1688,498 (25%)$1,34119,659 (42%)$6,46141,148 (84%)$17,170
Average19,089 (47.44%)$4,68911,138 (29.78%)$1,26917,802 (38.56%)$4,73438,811 (81.56%)$14,253

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, 26,736 (65.00 % of students) get any students loan help and its average loan amount is $26,736.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-1531,790 (70%)$7,03231,410 (71%)$6,0153,746 (9%)$11,635
2015-1629,956 (71%)$7,21329,498 (72%)$5,8413,998 (11%)$12,429
2016-1728,934 (70%)$7,32028,476 (70%)$6,0443,794 (10%)$12,846
2017-1827,498 (68%)$7,18727,067 (68%)$5,9933,519 (9%)$12,520
2018-1926,690 (67%)$6,93126,186 (66%)$5,6323,819 (9%)$12,519
2019-2026,010 (63%)$6,83025,566 (63%)$5,4833,638 (9%)$12,857
2020-2122,791 (60%)$6,72022,252 (59%)$5,4643,045 (9%)$13,469
2021-2223,634 (59%)$6,84323,078 (59%)$5,3433,466 (9%)$13,612
2022-2323,322 (57%)$7,11722,835 (56%)$5,2923,308 (10%)$15,437
Average26,736 (65.00%)$7,02126,263 (64.89%)$5,6793,593 (9.44%)$13,036