States awarded 11% more financial aid in 2022-23 than the previous year, marking the largest increase in a decade due to federal COVID-19 subsidies.
In 2022, states distributed $16.6 billion in aid, up from $14.9 billion, with 74% of it being need-based aid, showcasing a significant focus on supporting low-income students.
States like California and Georgia led in grant increases, with Georgia seeing a rise of over 1,000% after launching a need-based grant program.
The majority of aid went to just eight states, highlighting regional disparities in access to financial support, particularly for those needing need-based assistance.
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