I might have titled this post: A Sign of the Times...
The Federal Student Aid Data Center site updated figures last month for Pell Grants. Here are stats on recipients, grants and average grant size for the past four years with annual changes in the right hand columns:
| Recipients | Grants | Average | Avg | ||||
| Acad. Yr. | (in millions) | (In $MM) | Grant Size | Recipients | Grants | Grant Size | |
| 06-07 | 5.29 | $12,792 | $2,419 | ||||
| 07-08 | 5.69 | $14,675 | $2,580 | 8% | 15% | 7% | |
| 08-09 | 6.32 | $18,284 | $2,892 | 11% | 25% | 12% | |
| 09-10 | 8.23 | $29,361 | $3,566 | 30% | 61% | 23% |
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Observations:
- The 61% growth in Pell Grants to an annual figure of $29.4 billion was driven by both a 30% increase in recipients to 8.23 million and a 23% increase in average grant size to $3,566. The maximum Pell Grant for the 2009-10 academic year was $5,350. The maximum grant is $5,550 for the 2010-11 academic year.
- With NCES estimating that 18.4 million students would attend two year and four-year institutions in fall 2009, that would mean almost 45% of those in attendance received a Pell Grant for 2009-10. If you assume 100% of students at proprietary schools are Pell-eligible, that suggests that about 1 in 4 students at public and private non-profits are Pell-eligible.
- For those wondering how the percentage of recipients and grants broke out by sector, 63% of grant recipients and 62% of the grant volumes came from students at public institutions with for-profits next at 25% of recipients and dollar value of grants (Recipients and Grants in Millions):
| School Type | Recipients | Grants |
| PRIVATE-NONPROFIT | 1.01 | $3,877 |
| PROPRIETARY | 2.06 | $7,339 |
| PUBLIC | 5.16 | $18,145 |
| 8.23 | $29,361 | |
| PRIVATE-NONPROFIT | 12% | 13% |
| PROPRIETARY | 25% | 25% |
| PUBLIC | 63% | 62% |
| 100% | 100% |
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