Three-quarters of all full-time undergraduate college students received some sort of financial aid during the 2003-04 academic year, according to a report by the National Center for Education Statistics.
The federal report found that that the average amount of annual aid per student was $9,900. About half of students took out loans, of about $6,200 on average, and 62 percent received grants, averaging about $5,600.
Forty percent received both grants and loans, for an average total aid package of $13,600. About one quarter of full-time undergraduate students had their entire tuition covered by grant aid.