The National Association of Student Financial Aid Administrators' (NASFAA) National Student Aid Profile is an annual publication designed to give a high-level overview of the federal student financial aid programs that provide funding to millions of students each year. This report presents an overview of: (1) The Federal Pell Grant Program; (2)…

The Federal Pell Grant program is the largest program providing need-based grant aid to postsecondary students. In FY2023, the program made $31 billion in grant aid available to approximately 6.5 million low-income undergraduate students. Congress has considered several legislative proposals concerning Pell Grants in recent years, and it may…

Single Stop is a U.S. nonprofit organization that offers U.S. colleges services and tools to help students achieve economic security. Its portfolio of options includes an online platform that screens students' eligibility for public benefits programs, a search tool that connects students to community and college resources, and case management…

In July 2025, President Trump signed the Republican-led H.R. 1, the "One Big Beautiful Bill" (OBBB) into law. The new law is a sweeping tax and spending package that forgoes trillions in federal revenues to award tax cuts to the wealthy while stripping essential care and protections from women and families. While implementation of the…

Congress has provided authority to the U.S. Department of Defense (DOD) to fund off-duty voluntary education for Active and Reserve Component servicemembers. Congress and DOD have conceived of tuition assistance (TA) as a quality-of-life benefit, force-shaping tool, and a mechanism for developing human capital in the Armed Forces. The TA program,…

For 25 years, the National Association of Student Financial Aid Administrators (NASFAA) has surveyed financial aid professionals to understand the environment in which they administer student aid. These surveys identify resource shortages that may hinder the delivery of financial aid services, explore the causes of these shortages, and assess the…

This fact sheet outlines how the Federal Pell Grant serves as a key tool for addressing educational inequities faced by Latino students, who are disproportionately impacted by the racial wealth gap and systemic financial barriers to higher education.

More Latino students are attending college than ever before, bringing urgency to remove financial barriers that stand in the way of their academic goals and the promise of the American Dream. As the fastest-growing group within the national and postsecondary population, Latinos are vital to our nation's prosperity and progress. Seal of…

The reconciliation bill House Republicans passed outlines several proposed changes to higher education financing, including a new risk-sharing formula that would have colleges pay back a portion of their students' unpaid student loan bills. The amount colleges must pay is based on borrowers' unpaid loan payments each year (missed payments or…

The Concurrent Resolution on the Budget for FY2025 (H.Con.Res. 14) includes reconciliation instructions for the House Committee on Education and the Workforce (EDW) and the Senate Committee on Health, Education, Labor, and Pensions (HELP) to reduce spending within their jurisdictions by at least $330 billion and at least $1 billion, respectively,…

Many students work during college to offset rising costs, but significant time on the job affects postsecondary outcomes. Analyzing the High School Longitudinal Study (N = 4,418), this article estimates the effects of hours worked on grades, credits earned, persistence, stopping out (i.e., unenrolling for 5 months before reenrolling), and dropping…

Certain statewide promise programs require students to demonstrate financial need, while state performance funding policies sometimes incorporate a financial bonus that incentivizes colleges to enroll or graduate low-income students. We use data on public, 4-year colleges from 2007-2008 to 2019-2020, and incorporate difference-in-differences…

Research shows the economic benefits of postsecondary degree attainment, including higher earnings and lifetime wages. However, the full cost of college attendance is too high for most students even after receiving tuition assistance, such as grants and scholarships, making access to college inequitable, especially for low-income students and…

The coronavirus pandemic brought unprecedented challenges to higher education, intensifying long-standing systemic inequities in college affordability and access. For many students, the total cost of attendance exceeds what they can afford, even with financial aid. The Higher Education Emergency Relief Fund (HEERF) provided a crucial financial…

Online education has grown rapidly over the past decade. By 2020, one in four undergraduates were enrolled in exclusively online programs, double the number enrolled in 2012. The policy landscape concerning online education changed markedly with the establishment of the State Authorization Reciprocity Agreement (SARA) in 2014. This regulatory…