FOR IMMEDIATE RELEASE
Contact: Allie Arcese
Director of Communications
WASHINGTON, D.C., FEBRUARY 1, 2023 —
The Department of Education on Wednesday released data showing pandemic relief funds provided to colleges and universities since the start of 2021 resulted in direct financial aid to millions of college students, helping many who would otherwise be at risk of stopping or dropping out remain enrolled.
“Today’s data shows the powerful impact that need-based grant aid — even a small amount — can have for students on the brink of a financial emergency. What’s more, the aid was largely directed to the students who needed it most: those from low-income families and those attending under-resourced institutions. The results of today’s report are a testament to the hard work of financial aid offices across the country, who spent countless hours navigating complex regulations and guidance — at a time when many are facing severe staffing shortages — to ensure money got into the hands of students.”
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 32,000 financial aid professionals at approximately 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the U.S. Based in Washington, DC, NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators.
Publication Date: 2/1/2023