News from APA’s Center for Workforce Studies
How much (and what kind of) financial aid
do undergraduate psychology majors receive?
1 Collapsed across institution type and in-state/out-of-state tuition rates. 2004 dollars were adjusted for inflation to 2013 dollars, using the Consumer Price
Index inflation calculator: www.bls.gov/inflation_calculator.htm.
2 U.S. Department of Education, National Center for Education Statistics, Integrated Postsecondary Education Data System (IPEDS). (2004-13). Pricing and
Tuition Surveys [Data files and dictionaries]. Retrieved from https://nces.ed.gov/ipeds/datacenter/DataFiles.aspx.
3 Undergraduates include full-time, first-time degree students enrolled in 4- or 5-year bachelor’s degree programs with a major in psychology.
4 Definitions for federal grants, state/local grants, student loans and institutional scholarships/fellowships can be found in IPEDS data dictionary for the 2013
Student Financial Aid and Net Price Survey at https://nces.ed.gov/ipeds/datacenter/DataFiles.aspx.
5 Includes all financial aid that falls under one of the four categories described in this Datapoint. Excludes loans made directly to or by parents or tuition
payments made by parents and/or other family members or friends.
From 2004 to 2013, annual tuition for students
earning a bachelor’s degree in psychology
increased by 37 percent, from $13,188 to $18,037.1, 2
These undergraduates3 relied on federal and
state grants, student loans and institutional
scholarships and fellowships to help pay for their
4 The type and amount of financial aid
often depended on the type of institution in which
the student was enrolled.
• In 2013, 34 percent of all financial aid5 for
psychology undergraduates attending a public
institution came from student loans ($6,295),
followed by 25 percent in scholarships and
fellowships, 24 percent in federal grants, and 17
percent in state/local grants.
• For private not-for-profit institutions, 50 percent
of financial aid came from scholarships and
fellowships ($15,989), followed by student loans,
federal grants, and state/local grants.
• For private for-profit institutions, 44 percent of
all financial aid for psychology undergraduates
came from student loans ($8,020), followed
by federal grants ( 26 percent), scholarships/
fellowships ( 17 percent) and state/local grants
( 13 percent).
— Peggy Christidis, PhD, Daniel Manjarrez, Karen Stamm, PhD, and Luona Lin, MPP
For more information, contact APA’s Center for Workforce Studies at firstname.lastname@example.org.
Mean annual amount of financial aid received
by psychology undergraduates by type of institution, 2013
Public Private not-for-profit
n Federal grants n State/local grants n Student loans n Scholarships and fellowships