In Scholaroo’s recent student financial aid index report, the scholarship-tracking service investigated the amount of money each state is allocating to its students through assistance programs. The report broke it down by each undergraduate student on average, by state.
“Student Financial Aid is a key factor in making college more accessible and affordable for post-secondary students,” the report noted. “It helps them achieve their academic goals by alleviating the financial burden of tuition and other fees associated with attending college.”
Here are the 10 states that spend the most money on their undergraduate students in ranked order:
- South Carolina – $3,052
- Tennessee – $2,252
- New Mexico – $2,242
- Georgia – $2,160
- New Jersey – $2,038
- California – $1,751
- Louisiana – $1,632
- Kentucky – $1,615
- Virgina – $1,391
- New York – $1,371
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Per the data, South Carolina’s financial aid spending compared to other states is significant. While the states in second through 10th place saw an average $110 spending difference between them, top-ranked South Carolina spends $800 more per student on average than second-place Tennessee and $1,681 more than what 10th-place New York is reportedly spending. Montana spends the least amount per student at $36.
The report also analyzed data focused on online search results related to student financial aid over the past five years, finding a 40% increase in searches this past fall semester compared to pre-pandemic levels.
The entire ranking and search data can be found in Scholaroo’s report.
