NATION : Student Aid Up to $27.9 Billion
Student aid reached a record $27.9 billion in the 1989-90 school year but has failed to keep up with the sharp, decade-long rise in the cost of attending college, the College Board reported today.
Federal aid, adjusted for inflation, actually declined 3% during the decade, according to the board’s annual report, “Trends in Student Aid: 1980-1990.”
Rapid growth in aid from state and institutional sources has picked up some of the slack but not nearly enough to keep pace with college costs that have more than doubled during the 1980s, the report concluded.
Institutional aid--grants and loans awarded by colleges out of their own resources--shot up 90%, and state grants increased 52% even after adjusting for inflation.
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