Abstract
This article describes the aggregate financing of student aid by the federal government, state governments, and institutions over the past 25 years. The major trends in student aid funding are sketched in historical perspective with attention directed to federal program changes that precipitated funding changes. All major programs are covered, and figures are presented in current and constant dollars. Trends in the composition of aid delivered (grants, loans, and work-study) are also discussed. Over time comparisons in the numbers of recipients and aid per recipient are given by programs. Changes in educational costs are compared with changes in income and aid to show the increased difficulty for families and students to pay for higher education in the 1980s.
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