Scholarship Statistics 2025

Bold.org provides free data on education statistics, focusing on financial aid and scholarships. In the interest of fighting student debt and making college affordable for all students, we believe this information should be accessible for everyone.

Statistics Report Summary

• The average total cost of tuition, room and board, and fees at a four-year institution in the 2022-2023 school year was $30,884, a 139% increase from the 2000-2001 school year.
• The average total cost of tuition, room and board, and fees at a four-year institution in the 2000-2001 school year was $12,922.
• The U.S. Department of Education awards over $120 billion annually through grants, work-study funds, and student loans to students in need.
• Bold.org, a private student fintech and scholarship company, awards an average of $6.38 million annually through scholarships to students in need.

Average College Costs

• The average total cost of attendance at a four-year public institution in the 2022-2023 school year was $22,389.
• The average total cost of attendance at a four-year private institution in the 2022-2023 school year was $49,654.
• The average total cost of attendance at a two-year public institution in the 2022-2023 school year was $11,953.
• The average total cost of attendance at a two-year private institution in the 2022-2023 school year was $28,792.

Student Loan Rates and Statistics

• The average interest rate for a 5-year variable private student loan in March 2025 is 6.04%.
• The average interest rate for a 10-year fixed private student loan in March 2025 is 7.60%.
• The fixed interest rate for federal direct subsidized loans and direct unsubsidized loans for undergraduate students is 6.53%.
• The fixed interest rate for federal direct unsubsidized loans for graduate or professional students is 8.08%.
• The fixed interest rate for federal direct PLUS loans for parents and graduate or professional students is 9.08%.

General Scholarship Funding and Distribution

• 58% of American families use scholarships to pay for some college tuition costs each year.
• Over 1.7 million scholarships are awarded each year.
• The largest federal scholarship fund, the Pell Grant, provides support to 7.5 million students each year.
• The U.S. Department of Education awards around $46 billion through scholarships each year.
• 16% of students receive state scholarships, and 13% of students receive private scholarships during their postsecondary education.
• Around one in eight college students will receive a scholarship.
• The average student has a 12.5% chance of winning a scholarship of any monetary value.
• Of the students who receive scholarships, over 97% receive less than $2,500 in funding.
• Only 0.2% of students who receive scholarships are awarded $25,000 or more.
• Around 0.1% of students receive full-ride scholarships, which cover the total cost of education and living expenses.
• The average high school student qualifies for up to 100 scholarships.

Scholarship Distribution by Platform

• Since its establishment in 2020, Bold.org has awarded a total of $34.4 million in scholarships to 5,545 students.
• Since its establishment in 1958, Scholarship America awarded a total of $5.7 billion in scholarships to 3.2 million students.
• Since 2019, the College Board has awarded over $20 million in scholarships to over 24,000 students.
• In 2024, Bold.org distributed $8.42 million in direct financial aid.
• In 2024, Scholarship America distributed $315 million in direct financial aid.
• Since 2020, Bold.org has published 4,229 scholarships.
• In 2024, Bold.org published 1,242 scholarships.
• The average award amount winners receive from Bold.org is $1,778.
• The largest scholarship amount Bold.org has awarded is $50,000.

Average State Aid Projections for 2025

• The U.S. Department of Education estimates that $39.3 billion will be distributed through Federal Pell Grants.
• The U.S. Department of Education estimates that $910 million will be distributed through Federal Supplemental Education Opportunity Grants.
• The U.S. Department of Education estimates that $1.2 billion will be distributed through Federal Work-Study programs.
• In total, the U.S. Department of Education estimates that $41.4 billion will be distributed through all federal postsecondary education programs.

Largest Federal Scholarship Fund: Pell Grant Statistics

• Founded in 1972, the Pell Grant provides support for around 7 million students each year (1/3 of undergraduate students). 
• Over 50 years, the Pell Grant has provided college tuition assistance to 80 million low-income students.
• In the 1975-76 academic year, the maximum Pell Grant award was worth over 75% of the average cost of attendance at a four-year public university. This included tuition, fees, and living expenses.
• In the 2022-2023 academic year, the maximum Pell Grant award was worth 30% of the average cost of attendance at a four-year public university.
• In the 2022-2023 academic year, the average award provided by the Pell Grant to undergraduate university students was $4,875.
• In the 2021-2022 academic year, 33% of bachelor’s degree-granting institutions and 49% of community colleges were affordable to Pell Grant recipients. Affordability was measured by the National College Attainment Network. 

Profile of Students Receiving Financial Aid in 2020

• 71.4% of all undergraduates receive some aid, either from federal or nonfederal sources.
• Of female undergraduate students, 59.9% received federal aid, and 51.4% received nonfederal aid.
• Of male undergraduate students, 50.8% received federal aid, and 49.3% received nonfederal aid.
• 57.7% of American Indian/Alaska Native undergraduate students received federal student aid.
• 47.2% of Asian undergraduate students received federal student aid.
• 71.7% of Black undergraduate students received federal student aid.
• 57.6% of Hispanic undergraduate students received federal student aid.
• 56.6% of Pacific Islander undergraduate students received federal student aid.
• 52.9% of White undergraduate students received federal student aid.
• 54.3% of undergraduate students identifying as two or more races received federal student aid.
• White students have a 14.2% chance of receiving a scholarship, while minority students’ chances of winning a scholarship are 11.2%. 

Athletic Scholarships

• The total value of scholarships in NCAA I schools was $2.76 billion in 2020.
• The total value of scholarships in NCAA II schools was $752 million in 2020.
• Football was the college sport with the highest participation, with 899 participating schools and 93,776 total athletes. 
• Soccer was the college sport with the second-highest participation, with 1,733 participating schools and 84,087 total athletes. 

Scholarship Outcomes

• A survey of California high school seniors found that students eligible for performance-based scholarships allocate more time for educational activities, consequently decreasing time spent on other activities like work and leisure.
• Data from two New York City community college scholarship programs shows that receiving a scholarship encouraged full-time enrollment. Full-time enrollment increased by 4.1% in the first semester students received a scholarship, and increased by 6% in the second semester. 
• A study on the effects of the Georgia HOPE scholarship, which provides grade incentives to students but not credit incentives, found that the scholarship reduced the likelihood of students registering for a full credit load. In addition, the scholarship increased the likelihood that students would withdraw from courses. While not conclusive regarding the effects of all scholarships on students, this may be an example of the unintended effects scholarships can have in motivating educationally unproductive habits.

State Aid Resources for Students

Sources

1. Average Undergraduate Tuition for Full-Time Students (1963-64 through 2022-23)
2. Federal Student Aid | U.S Department of Education
3. Best Private Student Loans Of 2025
4. Interest Rates and Fees for Federal Student Loans
5. Scholarship America
6. BigFuture Scholarships Are Expanding to Include Students in the Class of 2027
7. Student Loans Owned and Securitized
8. What is the average amount of grant or scholarship aid from the federal government, state/local government, or the institution awarded to full-time, first-time undergraduate students?
9. Fiscal Year 2023-FY 2025 President's Budget State Tables for the U.S. Department of Education
10. Percentage of undergraduates receiving financial aid, by type and source of aid and selected student characteristics: Academic year 2019-20
11. Can Scholarships Alone Help Students Succeed?
12. Total Athletic Scholarships & average per athlete | Scholarship Stats.com
13. Pell Grants - National College Attainment Network
14. College Affordability - National College Attainment Network
15. Financial Aid: What is the average amount of Pell grants awarded to undergraduate students?
16. EconPapers: Student Responses to Merit Scholarship Retention Rules
17. U.S. Scholarship Statistics: The Latest Data, Facts And Costs
18. Financial Incentives and Educational Investment: The Impact of Performance-Based Scholarships on Student Time Use