Sixty percent of full-time college students rely on financial aid to cover their educational expenses, and half of these students receive aid from more than one source, said Camille Ryan, co-author of the survey.
Ryan said the growth of financial aid dependence is attributable, at least in part, to increases in the number of full-time college students.
"(Over the last 20 years) we're seeing more and more students enrolling in college," she said. "We're seeing more older people, more women and more minorities."
U.S. Census Bureau representative Mike Bergman said the study indicated that full-time college enrollment in the United States jumped from 5.6 million students in 1994 to 7.1 million in 1997.
Bergman said one-half of the students receiving aid come from families with an annual income of less than $50,000.
"The average amount of aid received is about $6,000," he said, adding that the most common sources of aid are student loans, fellowships, and scholarships.
Ryan said a lot of the aid awarded to students is need-based because those who might once have not gone to college now are finding a degree necessary.
"Our economy is going from more manufacturing-oriented to more service-oriented," she said. "You need a degree for even the simplest of jobs."
With financial aid on the rise, the UNC system is working to meet students' needs, said Steve Brooks, executive director of the N.C. State Education Assistance Authority.
