Soaring college tuition is making financial aid a necessity for more students — and that’s not getting any cheaper either.
Grants and student loans have risen by more than 50 percent. Financial aid per student was up from $9,129 in 2000 to $14,396 in the 2010-2011 school year.
The composition of that aid has changed as well. Federal loans and grants have become the largest sources of financial aid for most students, while private loans have become less popular.