..."Other surveys also point toward students struggling to afford basic necessities during the pandemic. The National Association of Student Financial Aid Administrators, a trade organization of university financial aid professionals, released an analysis of how students spent emergency stimulus money based on surveys given to roughly 18,000 people between March and April 2022. The group also partnered with the NASPA, Student Affairs Administrators in Higher Education, another higher education trade group, and HCM Strategists, a consulting firm.
On average, their analysis found, students received between $1,000 to $2,000 in emergency aid, though just over 60% reported getting financial assistance. The majority of students used their stimulus funding on food, books and housing costs, and roughly four in ten students spent the money on transportation.
About a third of students directed the emergency funding to 'upcoming tuition, technology devices, internet service, or utilities.” About 90% of those who received aid said the support helped them to “experience less stress and better focus on their studies.'"
NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 10/19/2022