Financial Aid Trends for New Jersey Colleges

6%

Received Percent Changed

$2,110

Received Amount Changes

For the academic year 2023-2024, 80% of students received grants and/or scholarships and its average aid amount is $15,572.

Compared to the percent of received 10 years ago, more students received the financial aid from 73% to 79%. The average financial aid amount has increased from $13,182 to $15,292 at New Jersey Colleges.

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at New Jersey Colleges since 2014. For that period, the average number of students who received grants aid/scholarships is 126,302, which is 77.11 % of all undergraduate students.

98,268 students which is 57.22% of undergraduate students received federal student loans and the average loan amount: $7,149.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-15116,062 (73%)$13,18272,528 (43%)$4,275110,704 (62%)$7,385
2015-16116,937 (72%)$12,98172,479 (42%)$4,271105,309 (61%)$7,294
2016-17117,988 (73%)$13,00372,933 (42%)$4,287106,046 (60%)$7,400
2017-18123,952 (77%)$13,05877,993 (45%)$4,717106,392 (60%)$7,418
2018-19126,811 (77%)$13,44477,700 (43%)$4,989104,691 (58%)$7,343
2019-20131,580 (77%)$13,28775,892 (42%)$4,807101,121 (58%)$7,046
2020-21136,658 (82%)$13,75273,888 (42%)$5,72990,781 (55%)$7,007
2021-22136,352 (84%)$15,21970,703 (41%)$5,76682,226 (51%)$6,699
2022-23130,381 (79%)$15,29269,018 (41%)$5,36077,140 (50%)$6,751
Average126,302 (77.11%)$13,69173,682 (42.33%)$4,91198,268 (57.22%)$7,149
*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, 24,641 (86.00 % of students) received grants or scholarships and its average amount is $15,400. It can cover 57.16% of tuition & fees ($26,944) based on out-of-state rate. In addition, 17,927 (61.78 % of students) students get helped from the students loans (average amount : $7,575).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-1521,668 (83%)$15,08419,042 (68%)$7,590
2015-1622,163 (83%)$15,24418,816 (67%)$7,506
2016-1722,783 (84%)$15,72218,969 (68%)$7,647
2017-1824,604 (84%)$14,60219,450 (65%)$7,046
2018-1926,183 (85%)$14,85720,430 (65%)$7,390
2019-2026,056 (83%)$15,01319,092 (62%)$7,626
2020-2125,394 (91%)$15,28514,808 (54%)$7,403
2021-2225,859 (93%)$16,23515,082 (54%)$7,454
2022-2327,057 (88%)$16,56015,658 (53%)$8,510
Average24,641 (86.00%)$15,40017,927 (61.78%)$7,575
*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, 13,046 (46.67 % of students) received Pell (federal) grants and its average amount is $5,258. In addition, 11,218 students received State/local government grants/scholarships (38.33 % 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
2014-1511,805 (47%)$4,6694,012 (16%)$1,2779,876 (37%)$7,88117,225 (71%)$10,431
2015-1612,074 (47%)$4,6634,099 (18%)$1,32510,070 (38%)$7,85017,113 (70%)$10,770
2016-1712,570 (47%)$4,5904,104 (19%)$1,12510,671 (37%)$8,11518,119 (71%)$10,877
2017-1813,589 (50%)$4,9064,423 (21%)$1,06911,692 (38%)$8,02819,353 (70%)$10,214
2018-1914,496 (45%)$5,2874,936 (21%)$1,01412,973 (43%)$8,17320,693 (72%)$10,330
2019-2013,904 (47%)$5,1337,321 (42%)$1,92312,408 (41%)$8,49220,858 (67%)$10,249
2020-2112,777 (47%)$6,2158,782 (54%)$1,62111,203 (39%)$8,45119,925 (68%)$10,805
2021-2212,636 (46%)$6,1908,444 (54%)$1,90410,479 (36%)$9,09621,502 (79%)$11,045
2022-2313,563 (44%)$5,6715,597 (24%)$1,29011,589 (36%)$9,92723,768 (81%)$11,896
Average13,046 (46.67%)$5,2585,746 (29.89%)$1,39411,218 (38.33%)$8,44619,840 (72.11%)$10,735

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, 17,927 (61.78 % of students) get any students loan help and its average loan amount is $17,927.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-1519,042 (68%)$7,59018,664 (67%)$6,0493,107 (10%)$12,505
2015-1618,816 (67%)$7,50618,340 (66%)$5,8513,222 (10%)$12,888
2016-1718,969 (68%)$7,64718,585 (66%)$5,8973,390 (11%)$13,324
2017-1819,450 (65%)$7,04619,024 (64%)$5,5793,419 (10%)$13,318
2018-1920,430 (65%)$7,39019,930 (64%)$5,6343,807 (11%)$14,444
2019-2019,092 (62%)$7,62618,574 (60%)$5,5763,770 (11%)$14,457
2020-2114,808 (54%)$7,40314,367 (53%)$5,5672,257 (8%)$14,143
2021-2215,082 (54%)$7,45414,672 (53%)$5,2112,560 (8%)$17,195
2022-2315,658 (53%)$8,51015,029 (51%)$5,8042,988 (9%)$16,837
Average17,927 (61.78%)$7,57517,465 (60.44%)$5,6853,169 (9.78%)$14,346