Financial Aid Trends for Puerto Rico Colleges

-6%

Received Percent Changed

$776

Received Amount Changes

For the academic year 2023-2024, 84% of students received grants and/or scholarships and its average aid amount is $6,488.

Compared to the percent of received 10 years ago, less students received the financial aid from 88% to 82%. The average financial aid amount has increased from $5,181 to $5,957 at Puerto Rico Colleges.

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Puerto Rico Colleges since 2014. For that period, the average number of students who received grants aid/scholarships is 133,741, which is 86.22 % of all undergraduate students.

42,175 students which is 26.67% of undergraduate students received federal student loans and the average loan amount: $4,617.

YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-15152,466 (88%)$5,181142,119 (82%)$4,39348,738 (28%)$4,524
2015-16149,506 (86%)$4,778140,961 (82%)$4,32752,540 (31%)$4,288
2016-17144,043 (85%)$4,958136,830 (81%)$4,50752,929 (28%)$4,177
2017-18138,506 (85%)$5,111131,631 (81%)$4,74047,469 (29%)$4,597
2018-19133,654 (86%)$5,136126,854 (81%)$4,84641,026 (29%)$4,485
2019-20137,019 (88%)$5,829124,424 (81%)$5,13846,155 (28%)$4,548
2020-21123,593 (88%)$5,972108,308 (78%)$5,16830,718 (22%)$4,859
2021-22120,827 (88%)$6,301101,344 (77%)$5,07233,470 (23%)$5,010
2022-23104,054 (82%)$5,95795,630 (76%)$5,39126,529 (22%)$5,063
Average133,741 (86.22%)$5,469123,122 (79.89%)$4,84242,175 (26.67%)$4,617
*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, 25,681 (92.11 % of students) received grants or scholarships and its average amount is $6,079. It can cover 105.01% of tuition & fees ($5,789) based on out-of-state rate. In addition, 3,858 (16.11 % of students) students get helped from the students loans (average amount : $3,649).

Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2014-1530,604 (91%)$5,2173,794 (17%)$3,277
2015-1628,885 (92%)$5,1074,300 (19%)$3,651
2016-1728,835 (91%)$5,3074,665 (16%)$3,143
2017-1825,999 (91%)$5,5903,850 (16%)$3,457
2018-1924,519 (93%)$5,8473,954 (18%)$3,430
2019-2026,483 (93%)$6,8194,319 (17%)$3,543
2020-2120,527 (92%)$6,8991,683 (14%)$4,147
2021-2222,309 (95%)$7,1814,954 (14%)$3,973
2022-2322,972 (91%)$6,7443,204 (14%)$4,220
Average25,681 (92.11%)$6,0793,858 (16.11%)$3,649
*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, 24,507 (88.78 % of students) received Pell (federal) grants and its average amount is $5,440. In addition, 5,397 students received State/local government grants/scholarships (26.44 % 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
2014-1529,392 (88%)$4,9118,268 (32%)$48112,154 (43%)$4515,832 (23%)$1,042
2015-1628,257 (90%)$4,8368,199 (37%)$4828,757 (32%)$2865,782 (25%)$902
2016-1728,055 (90%)$5,0329,091 (34%)$4105,787 (20%)$4296,342 (24%)$1,028
2017-1825,240 (89%)$5,2529,897 (42%)$4735,213 (23%)$4416,187 (26%)$937
2018-1923,739 (91%)$5,52611,342 (45%)$4515,634 (30%)$5086,615 (30%)$800
2019-2025,098 (89%)$5,93617,697 (73%)$1,0622,690 (26%)$6336,802 (32%)$930
2020-2118,857 (86%)$5,83716,880 (76%)$1,4042,001 (20%)$6436,242 (38%)$926
2021-2220,438 (88%)$5,68319,392 (73%)$1,7662,909 (23%)$5596,344 (35%)$1,220
2022-2321,483 (88%)$5,95012,542 (58%)$9153,427 (21%)$6666,826 (33%)$1,144
Average24,507 (88.78%)$5,44012,590 (52.22%)$8275,397 (26.44%)$5136,330 (29.56%)$992

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, 3,858 (16.11 % of students) get any students loan help and its average loan amount is $3,858.

YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2014-153,794 (17%)$3,2773,787 (18%)$3,1657 (2%)$5,910
2015-164,300 (19%)$3,6514,287 (21%)$3,40413 (1%)$5,315
2016-174,665 (16%)$3,1434,663 (16%)$3,1173 (1%)$3,964
2017-183,850 (16%)$3,4573,849 (16%)$3,4264 (0%)$5,661
2018-193,954 (18%)$3,4303,951 (18%)$3,4013 (1%)$5,000
2019-204,319 (17%)$3,5434,316 (17%)$3,5153 (1%)$5,000
2020-211,683 (14%)$4,1471,679 (14%)$4,1464 (1%)$5,063
2021-224,954 (14%)$3,9734,953 (14%)$3,9571 (6%)$7,500
2022-233,204 (14%)$4,2203,204 (14%)$4,09311 (4%)$11,741
Average3,858 (16.11%)$3,6493,854 (16.44%)$3,5805 (2.13%)$6,128