Scholarship is the most crucial part of the student’s academics. The average tuition fees in the US increased in 2020-2021, which affected the financial arrangements of many students.
But the Scholarship statistics in the US might help you to find the solution to this situation.
There are many types of scholarships and grants available for public and private institutions by which students can take advantage to waive the fees.
According to the latest statistics, the average scholarship provided to a student is $7,400. Most of the scholarships are merit-based or need-based.
In this article, I have compiled the most recent stats about scholarships in the US that will give you an idea of different types of financial aid, grants, scholarships provided by public and private institutes, and the various funding sources of scholarships.
Scholarship Statistics: General Stats
There is a wide range of scholarships available for students. Also, many financial aid options are available when looking for scholarships.
Below are some general statistics that will answer your questions like how to get qualify for the scholarships and how many scholarships are given every year.
- According to Dickler statistics 2020, there are more than 1.7 million private scholarships and fellowships provided in the US each year.
- Research states that 25% of college students receive scholarships in terms of money.
- One out of eight college students received the scholarship. (Kantrowitz, 2019)
- For graduate and undergraduate students, the overall scholarship provided each year is 1,581,000, according to Scholly 2020.
- 0.2% of US students get awarded a scholarship of $25,000.
- 58% of the families utilized the scholarship to pay for college tuition in 2020.
- The Pell grant is the most significant federal scholarship that provides financial aid to around 7.5 million students.
- 13% of the students get private scholarships, while 16% receive state scholarships.
- $8.8 billion students received need-based scholarships in 2020.
- Around 4% of students have a 3.5 to 4 GPA.
- According to Kantrowitz 2021, private scholarships received by 50% of the students experienced scholarship displacement.
- While 62 %of the schools reduced institutional grants, 24% reduced student employment, and 55% of the chills reduced their school loans.
- 31% of the students who informed schools about their private scholarships faced reduced institutional grants.
- Only .01% of the students get awarded full-ride scholarships.
- A regular high school student can earn 50 to 100 scholarships with the needed qualifications.
- According to the ThinkImpact 2021, 1.5% of students get nearly as rare as full-tuition scholarships.
- A $1.6 billion scholarship was awarded to the 1.58 million students in 2015-2016.
- The average student receives a scholarship of around $4,202.
- The median amount of scholarship used by the students was $7,923.
- 79% of the students depend on scholarships more than parents, with 63% relying on scholarships.
- The overall grants and scholarships helped 19% of the college expenses to pay.
- The research from the education data states that there is an estimated $46 billion in scholarship money awarded by the U.S Department of Education per year.
- First-time undergrads at four-year colleges who receive federal scholarships and grants typically receive an annual scholarship of around $13,690.
- There are 5% of the students in the graduate programs who got enough scholarships from the college to cover the 100% of their college expenses.
- 9% of the students earned enough scholarships to cover 75% of the tuition.
- 8% of the students were awarded enough funds that cover 50% of the total college costs.
- 7% of students received enough scholarships to cover the 90% of the costs.
- Federal scholarships are received by 48% of the students.
- Athletes receive scholarships of around $5000 on average.
- Around 7 million students apply for the scholarships, and among them, only 1% get qualified for the scholarships.
- According to admissionsly, the collegiate association awards total funds of more than $2.9 billion every year.
- 36% of the students receive scholarships that are provided by foundations, private companies, and civic groups.
- The students who receive scholarships from state and local government are 31%.
Statistics on Different Types of Scholarships
There are many ways in which students can earn scholarships besides need-based scholarships. Those who perform considerable skills in academics like athletics and other extracurricular activities may get a scholarship from the colleges.
Let’s have a look at different types of scholarships.
The most common scholarships that are awarded to students are need-based scholarships. These grants are specially provided to students from low-income family backgrounds. Students can apply for these scholarships to avail the benefits of low tuition fees.
- Need-based scholarships are mostly provided by schools, states, corporations, the federal government, and various non-profit organizations.
- According to ThinkImpact, need-based scholarships of around $8.8 billion are provided to students each year.
- The average need-based scholarship received by each student is $4000.
- There are around 53.3% of high school students who completed the Free Application for Federal Aid (FAFSA) in 2021, representing a 2.5% decrease from 2020.
- In 2021, a total of 85% of the students were awarded need-based financial aid.
- According to Leonhardt 2020, 38% of students worry about insufficient funds for the current semester to cover.
- Louisiana has the highest FAFSA completion rate in 2021, with a rate of 73.7%.
- Similarly, Tennessee has 71.6%, Illinois has 65.7%, Washington has a rate of 66%, and New Jersey has a 64.3% rate of FAFSA com[letion rate. (Postsecondary National Policy Institute, 2021)
- The research from ThinkImpact 2021 states that 58% of U.S. families holding need-based scholarships get higher education expenses.
- According to Fidelity Investments 2021, the top consideration for students in high school selecting a college is the cost to the family, followed by financial aid with 19%.
- In addition, 49% of parents of students in high school think that it is important to support paying for college.
- This is followed by financial aid at 445, general savings at 33%, student loans at 35%, and parents’ income at 25%. (Fidelity Investments,2021)
- 16% of the students were need-based, and 18% of the recipients were awarded merit-based scholarships.
- In 2015, more than $8.8 billion in funds were awarded in need-based grants.
- In California, the need-based scholarship has an expenditure of over $1.8 billion, which makes up to a 37.2% increase.
- 20 states implemented 40 pieces of legislation for need-based scholarships in 2017.
Following are the stats explained by the race who received need-based scholarships (2016).
|Race||Percentage of Federal Aid Received|
|American Indian/Alaskan Native||77.4%|
Merit-based scholarships are for those who are proficient in their academics. These merit-based scholarships provide finances to support them financially. They are also based on some extracurricular activities that students perform.
- The average merit-based scholarship received by the students is around $4,700 each.
- According to the ThinkImpact 2021, 22% of the undergraduates received merit-based scholarships.
- Students with 3.5 GPAs (17%) or more than are more likely to get awarded with private scholarships.
- Kantrowitz 2019 stated that students with an average GPA of 3.5 to 4.0 are more likely to get a private scholarship than those with a GPA lower than 3.0.
- In 2019-2020, the number of students who received merit-based scholarships are 22%.
- Students at private institutions who received merit-based scholarships are 25%.
- The students who scored more than 1000 on SAT exam are more likely to get awarded with private scholarships at 12.9% more than students who scored less than 1000 (7.8%).
- However, students who scored 21 (12.4%) or higher on the ACT are more likely to get private scholarships than those students who have scored less than 21 (7.7%).
- 11.5% of the students in non-STEM fields are granted private scholarships, while 16.2% of the students in STEM fields are awarded with private scholarships.
- Morning Consult 2021 observed that 48% of the students who are athletes believe that academic grants compensate for their studies and 26% do not.
- 56% of moderate universities offered financial aid, and 28% of less selective colleges provided financial aid.
- The southeast universities that offered merit aid are 24%.
- Only 18% of the students at public universities received merit-based scholarships.
Following are the detailed stats that explain the likelihood of receiving private academic scholarships by GPA. (Source: Saving for college, 2019)
|Average GPA||Percent of Private Academic Scholarship|
|3.5 or higher||17%|
|3.0 to 3.4||13.1%|
|2.5 to 2.9||10.4%|
|2.0 to 2.4||8.3%|
|Less than 2.0||7%|
These kinds of statistics and grant is provided to the students who are scouted and groomed to compete in athletics leagues like National Collegiate Athletic Association (NCAA).
- In 2019, 57% of the students received athletic scholarships.
- The athletic scholarships are offered to less than 2% of high school student-athletes (Next College student 2021).
- The NCAA stated that only 1.3% of high school athletes would receive scholarships or grants.
- For division I schools. The average scholarship was $14,270 per year for male students and $15,162 for female students.
- Similarly, for division II, male students received an average grant of $5,548 and $6,814 for female students.
- Male students tend to receive more scholarships than female students.
- Each year, the NCAA provides more than $2.9 billion in athletic scholarships and grants for more than 150,000 student-athletes.
- The amount granted to athletic students costs around $3.1 billion each year for NCAA divisions I and II alone.
- The highest number of athletic scholarships that are available in the U.S for male sports are football (27,304).
- Similarly for track and cross country (12,271) comes in second place in the highest number of athletic scholarships available.
- The highest number of athletic scholarships available for women are track and cross country, with 16,620, and basketball with 10,222 (Scholarships stats 2022).
- Basketball is the sport that receives the largest financial aid from NCAA athletic scholarships for male students $38,246.
- Ice hockey receives the most money on average from National collegiate athletic association athletic scholarships for female students, at $41,693.
Below is the maximum number of available college athletic scholarships for Division I.
|Sports||Maximum number of available athletic scholarships for male||Maximum number of available athletic scholarships for female|
|Swimming and Diving||9.9||14|
|Track and Field||12.6||18|
Funding Sources for Scholarship Statistics
There is a wide range of funding sources available, like private sources and state and federal sources. The following stats provide detailed information on the funding sources for scholarships.
- In 2018, the number of students who received financial aid from the Pell grant is around 7.5 million.
- The maximum amount granted per student in 2020 is $6,345.
- In 2007-2008, the number of students who received federal aid in the form of a Pell grant was 27%.
- In 2007-2008, 165 of the students received state grants.
- In 2022, the National Scholarship Program provided around 8,700 grant awards totaling around $40 million.
- According to NCES 2021, institutional grants are the largest source of student scholarships in private four-year non-profit institutions at 83%.
- Student loans are the top source at 70% in the case of four-year profit schools.
- The next are federal grants at 65%, institutional grants at 30%, and state grants at 11%.
- Institutional grants are the largest source of public four-year schools at 51%.
- Then followed by student loans at 44%, local grants at 38%, and federal grants at 37%.
- For two-year private institutes, student loans are the largest source of student scholarships, with 88% for nonprofit institutes and 74% for for-profit schools.
- Institutional awards ($58 billion), federal loans ($45 billion), federal Pell Grants ($26 billion), state grants ($13 billion), and private and employer grants ($12 billion) are the types of student aid that provide the most funding for undergraduates (College Board, 2021).
- Federal loans ($39 billion) are the largest source of funding for graduate students, followed by institutional grant funding ($13.4 billion), private and employer grants ($4.2 billion), federal veterans benefits ($1.7 billion), and federal education tax benefits ($4.2 billion) (College Board, 2021).
- In terms of funding aid expenses for higher education, the District of Columbia has the highest percentage allotment (35%), followed by South Carolina (34%), Louisiana (28%), Virginia (28%), Kentucky (24%), and Georgia (24%) (College Board, 2021).
Following are the detailed stats on the biggest sources of student scholarships for four-year colleges.
|Type of Grants||Private Non-profit||Private for-profit||Public|
Public VS Private College Statistics
Public schools offer lower tuition fees as compared to private schools. But private schools provide grants and various scholarships with larger monetary values that make education more affordable.
According to the latest statistics, four-year non-profit education institutes provide the highest chances of different scholarships.
- The federal government provides 62% of the grants to students from private for-profit institutions. (Hanson, 2021)
- While public university students tend to receive 38% from the Federal government. (Hanson, 2021)
- On average, a student who is provided a scholarship at a private 4-year college receives $10,230 more than a student in a public 4-year college.
Private institutes provide around $74 billion in scholarship funds per year.
- The Unites Negro college provides funds for more than 400 different scholarships.
- The Coca-Cola scholars foundation provides a scholarship award of around $20,000.
- A $12,000 maximum scholarship is awarded per student by Miss America Foundation.
- The Society of Women Engineers awarded a total of 230 scholarships and grants in 2016.
- These scholarships amounted to $750,000 in total in 2016.
- The total amount of $5,000 to $20,000 is offered by the Center for Women in Technology (CWIT) each year for a maximum of 4 years.
Following is the detailed government scholarship aid per student by private and public 4-year colleges:
|Income level||4-year public college||4-year private college|
|All income level||$9,950||$18,430|
|$0 to $30,000||$13,910||$18,930|
|$30,001 to $48,000||$13,380||$12,560|
|$48,001 to $75,000||$9,590||$13,650|
|$75,001 to $110,000||$5,320||$11,980|
|$110,001 or more||$3,150||$15,680|
Public scholarships are generally awarded based on student needs. The other scholarships provided by public institutes are athletic awards, state residency scholarships, program major-specific scholarships, and college-specific awards.
- The U.S department of education provides an amount of more than $46 billion in scholarship money each year.
- There are Pell grants reserved for students with families who have a low income of below $25,000.
- The median Pell grant scholarship is $4,491 per student.
- The Federal Supplemental Education Opportunity Grant (FSEOG) makes it mandatory that participating institutions put 25% of the money they receive into the program.
Following is the division of the total Federal Grant Money by College Major:
|Major||Total Grant Aid received|
|Business and Management||15.9%|
|Social and Behavioral sciences||7.0%|
|Computer and Information Science||4.6%|
|Vocational and Technical||3.2%|
|Other Technical and professional||12.3%|
Conclusion: Scholarship Statistics
I have listed all the important stats about the scholarships provided by private and public institutes in the US.
Students have access to various options of different types of scholarships that include need-based as well as merit-based scholarships.
So which scholarship option would you like to opt for? Let us know in the comment section below.
Also, if I have missed something to mention in the above stats, share it with me in the comment section.
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