(CNSNews.com) - As President Barack Obama was preparing this week to embark on a bus tour on which he intends to propose ways to “fundamentally rethink and reshape” the higher education system in the United States, the U.S. Department of Education’s National Center for Education Statistics released a new report on the financial aid paid to American college students.
In the 2011-2012 school year, says the report, the federal government provided 71.4 percent of full-time college students with some form of taxpayer-funded aid for their education.
According to the report, 55.2 percent of full-time college students in the 2011-2012 school year took out direct federal student loans, 47.4 percent received a federal grant, and 10.5 percent were in some type of federally backed work study program.
On average, full-time college students received $10,500 in federal aid during the year.
The average value of the direct student loans made to a full-time college student in 2011-2012 was $7,000, according to the report. The average value of the Pell Grants made to full-time students was $4,400.
Via: CNS News
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