U.S. college students have amassed $1.8 trillion in federal student loan debt, the second-largest category of consumer debt after home mortgages. But some also get money in the form of state and federal grants that don’t need to be repaid, as shown in today’s Map Monday. States cover the lion’s share of higher education costs, from funding the institutions to providing student aid, but federal grants are integral to making college affordable. About 75% of college students require financial aid to pay tuition and fees, as NCSL’s bipartisan Task Force on Higher Education reported last year. Utah Sen. Ann Millner (R), one of the task force co-chairs, says in a recent NCSL Facebook Town Hall that the report covers the state and federal relationship on funding, making college more affordable and ensuring degrees have high value.
Sources:
NCSL Higher Education Task Force
Education Data Initiative