Financial aid = loans.
They get the opportunity to take out more loans, the poorer their parents are. I got a small pell grant a few years, but most of my college was all loans from the student aid office.
They get the opportunity to take out more loans, the poorer their parents are. I got a small pell grant a few years, but most of my college was all loans from the student aid office.
"27% of students received Federal Student Loans averaging $4,835 and 10% of undergrads took out private student loans averaging $11,058."
Financial aid also includes grants, both school-issued and outside (public and private), and it includes both merit-based aid and need-based aid.