College Scholarship Statistics [2026]: Yearly Total + Analysis

A new analysis of college scholarship data for 2025 found that U.S. students received a total of $12.3 billion in scholarships. The figure includes awards from private organizations, nonprofits, and colleges themselves. The report was compiled by the scholarship database company Fastweb.

The average scholarship award per student was $2,500. However, the median award was lower at $1,000, indicating that a small number of large scholarships pulled the average upward. The data showed that 1.2 million students received at least one scholarship.

Merit-based scholarships accounted for 68% of total scholarship dollars, while need-based scholarships made up 22%. The remaining 10% came from scholarships based on other criteria such as athletic ability, artistic talent, or specific fields of study.

The report also broke down scholarship awards by state. California students received the most scholarship money at $1.8 billion, followed by Texas at $1.2 billion and New York at $900 million. The states with the highest average scholarship awards were Connecticut, Massachusetts, and New Jersey.

Fastweb noted that the total scholarship amount has increased by 4% compared to the previous year. The company attributed the growth to an increase in private scholarships and more colleges offering institutional awards to attract students.