During the 2022–23 academic year, undergraduate students received more than $240 billion in student aid, including grants, loans, education tax benefits, and work-study programs. Federal grants* Financial Aid Federal work-study Federal education tax credits & deductions Other grants** Federal loans *Federal grants include Pell Grants and veterans benefits. **Grants from colleges, states, private parties, and employers. Source: College Board, 2023 (percentages do not total 100 due to rounding) Financial Aid 34.7% 0.5% 4.5% 44.7% 15.7%
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