Released on = July 30, 2007, 1:02 pm

Press Release Author = Brooke Heath

Industry = Education

Press Release Summary = New reports indicate that over 75 percent of American
students rely on some type of financial aid to fund their educations.

Press Release Body = July 30, 2007-According to a recent report, more than
three-quarters of American undergraduate students receive some type of financial aid
to assist them with paying for college. The report, which was released by the U.S.
Department of Education's data collection and analysis division, also shows that
financial aid comes from the federal government for more than 60% of these students.
The National Center for Education Statistics also reported in its Digest of
Education Statistics for the 2005-2006 academic year that 54% of part-time
undergraduates received financial aid. Of that 54%, 38% received federal aid.
According to Higher Education Washington, Inc.'s NewsLine, the Digest also reported
the following statistics on financial aid:

. Full-time students received an average of $9,899 per year in financial aid.
o Of that aid, the average amount of federal aid was $7,304.

. Almost 50% of full-time students borrowed educational loans.
o 48.5% of full-time students took out federal loans.
o 9% of full-time students took out private loans.

. Part-time students received an average of $4,860 per year in financial aid.
o Of that aid, the average amount of federal aid was $4,765.

. 25% of part-time students borrowed educational loans.
o Almost 24% of part-time students took out federal loans.
o Almost 4% of part-time students took out private loans.

. The average cost of public four-year universities is more than $13,000 per year.

. The average cost of private four-year universities is more than $36,000 per year.

The entire report will be available in print on August 31; it can be accessed online
now at http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid

Web Site = http://www.edfed.com

Contact Details = 175 S. Lake Ave.
Suite 200
Pasadena, CA 91101
626-234-9423
bheath@edfed.com