Financial Aid Trends for Massachusetts Colleges

3%

Received Percent Changed

$8,910

Received Amount Changes

For the academic year 2023-2024, 76% of students received grants and/or scholarships and its average aid amount is $26,521.

Compared to the percent of received 10 years ago, more students received the financial aid from 73% to 76%. The average financial aid amount has increased from $16,519 to $25,429 at Massachusetts Colleges.

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Massachusetts Colleges since 2014. For that period, the average number of students who received grants aid/scholarships is 181,404, which is 74.22 % of all undergraduate students.

132,893 students which is 54.11% of undergraduate students received federal student loans and the average loan amount: $6,873.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-15179,445 (73%)$16,51971,404 (31%)$4,094149,166 (59%)$7,260
2015-16177,753 (70%)$17,69369,027 (29%)$4,154145,758 (57%)$7,129
2016-17179,300 (72%)$18,50367,762 (28%)$4,192144,125 (56%)$7,146
2017-18180,844 (72%)$19,20969,930 (29%)$4,352141,244 (55%)$6,966
2018-19180,421 (72%)$20,86367,560 (28%)$4,531136,520 (55%)$6,797
2019-20184,650 (75%)$21,41465,650 (28%)$4,570132,214 (54%)$6,791
2020-21187,270 (79%)$21,63961,897 (28%)$4,718118,775 (51%)$6,742
2021-22188,330 (79%)$23,12559,862 (27%)$4,683116,947 (51%)$6,472
2022-23174,619 (76%)$25,42957,665 (26%)$5,036111,291 (49%)$6,554
Average181,404 (74.22%)$20,48865,640 (28.22%)$4,481132,893 (54.11%)$6,873
*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, 41,520 (83.44 % of students) received grants or scholarships and its average amount is $23,329. It can cover 92.31% of tuition & fees ($25,271) based on out-of-state rate. In addition, 29,767 (61.44 % of students) students get helped from the students loans (average amount : $8,469).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-1540,144 (81%)$18,36132,385 (67%)$8,186
2015-1640,281 (81%)$20,22331,526 (64%)$8,260
2016-1740,651 (82%)$21,22631,816 (64%)$8,607
2017-1841,417 (82%)$22,24031,394 (64%)$8,415
2018-1942,287 (82%)$23,51430,794 (62%)$8,235
2019-2042,966 (85%)$24,94530,258 (61%)$8,843
2020-2141,506 (87%)$24,31325,634 (58%)$8,048
2021-2243,451 (87%)$26,39127,452 (58%)$8,430
2022-2340,975 (84%)$28,74526,640 (55%)$9,197
Average41,520 (83.44%)$23,32929,767 (61.44%)$8,469
*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, 13,700 (31.78 % of students) received Pell (federal) grants and its average amount is $4,718. In addition, 11,400 students received State/local government grants/scholarships (22.78 % 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
2014-1513,874 (34%)$4,2827,662 (16%)$1,42413,765 (25%)$1,72736,623 (77%)$16,913
2015-1613,592 (32%)$4,4327,825 (16%)$1,44813,485 (23%)$1,99237,104 (77%)$18,261
2016-1713,687 (31%)$4,4517,859 (16%)$1,38910,672 (21%)$2,27638,707 (79%)$19,250
2017-1814,532 (33%)$4,6008,871 (17%)$1,40511,361 (23%)$2,05139,546 (78%)$20,190
2018-1914,283 (32%)$4,7388,645 (19%)$1,53311,022 (22%)$2,03540,587 (79%)$21,692
2019-2014,052 (31%)$4,87415,319 (31%)$1,61511,306 (21%)$2,22541,232 (81%)$22,455
2020-2112,905 (32%)$4,89315,716 (33%)$1,80610,526 (26%)$2,24539,405 (83%)$22,415
2021-2213,246 (31%)$4,94217,380 (36%)$2,01810,069 (22%)$2,73840,977 (82%)$24,308
2022-2313,133 (30%)$5,2538,633 (18%)$1,65310,394 (22%)$3,26340,044 (81%)$25,970
Average13,700 (31.78%)$4,71810,879 (22.44%)$1,58811,400 (22.78%)$2,28439,358 (79.67%)$21,273

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, 29,767 (61.44 % of students) get any students loan help and its average loan amount is $29,767.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-1532,385 (67%)$8,18631,674 (65%)$5,8035,705 (15%)$13,087
2015-1631,526 (64%)$8,26030,621 (62%)$5,6695,972 (15%)$14,097
2016-1731,816 (64%)$8,60731,036 (63%)$5,5986,348 (16%)$14,845
2017-1831,394 (64%)$8,41530,623 (62%)$5,4936,589 (15%)$15,405
2018-1930,794 (62%)$8,23529,908 (61%)$5,1317,145 (14%)$15,028
2019-2030,258 (61%)$8,84329,386 (60%)$5,0857,344 (15%)$16,125
2020-2125,634 (58%)$8,04824,685 (57%)$5,0765,337 (12%)$15,656
2021-2227,452 (58%)$8,43026,573 (56%)$4,9676,062 (13%)$18,344
2022-2326,640 (55%)$9,19725,816 (54%)$5,1495,917 (13%)$18,224
Average29,767 (61.44%)$8,46928,925 (60.00%)$5,3306,269 (14.22%)$15,646