According to the National Center for Education Statistics (NCES), more than 63% of students received financial aid during the 2003-2004 academic year, compared to just 55% in 1999-2000. Not only are more students receiving money, but they are receiving more money as well--an average of $1,200 more per year than four years ago.

To conduct this study, NCES polled more than 80,000 undergraduates and 11,000 graduate students. Here are some of the other interesting findings:

• 27% of undergraduate students received Pell Grants
• the average Pell Grant received by full-time students was $3,100
• less than 10% of students received work-study aid
• more than half the students received "free" money and about one-third took out loans

This study has been conducted every three or four years since 1986. For more details, go to http://nces.ed.gov/pubsearch.

Tip:  If you're like the majority of students and looking for financial aid, be sure to check out Reference Service Press's award-winning financial aid directories for undergraduates or graduate students; you'll find billions of dollars in funding described there.