Figure 4: Percentage of Full-time, First-year Students Receiving Pell Grants

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Source: Author’s calculations based on data from the Integrated Postsecondary Education Data System (IPEDS).

Note: Sample is restricted to public and private, non-profit four-year institutions with more than 250 full-time, first-time students in 2021-22. The percentage of students receiving Pell Grants is calculated on this subset of students. Small, medium, and large endowments are defined as those with endowments per FTE that are less than $100,000, $100,000 to $500,000, and greater than $500,000.