Each year the National Association of State Student Grant and Aid Programs (NASSGAP) completes a survey regarding state-funded expenditures for postsecondary student financial aid. This report, the 48th annual survey, represents data from academic year 2016-17. Data is provided regarding state-funded expenditures for student financial aid and illustrates the extent of efforts made by the states to assist postsecondary students. Highlights include: (1) In the 2016-17 academic year, the states awarded about $12.8 billion in total state funded student financial aid, an increase of about 2.8 percent in nominal terms and about 1 percent in constant dollar terms from the $12.5 billion in aid awarded in 2015-16; (2) The majority of state aid (86 percent) remains in the form of grants. In 2016-17, about 4 million grant awards were made representing about $11 billion in need and nonneed-based grant aid. This represents an increase of about 2.3 percent from the $10.7 billion in grants awarded in 2015-16. Of the grant money awarded in 2016-17, about 76 percent was need-based and 24 percent was non-need-based, a slight increase in need-based aid from last year; (3) Funding for undergraduate need-based grant aid increased nationwide from just under $8 billion in 2015-16 to about $8.2 billion in 2016-17, an increase of about 3 percent in nominal terms; (4) Eight states (California, New York, Texas, Pennsylvania, New Jersey, Illinois, Washington, and Virginia) collectively awarded about $5.6 billion in undergraduate need-based grant aid, accounting for about 70 percent of all aid of this type; and (5) States provided about $1.8 billion in nongrant student aid, including loans, loan assumptions, conditional grants, work-study, and tuition waivers, an increase of 5 percent from last year. Tuition waivers accounted for the largest portion of the nongrant aid increase. [For the previous report, "47th Annual Survey Report on State-Sponsored Student Financial Aid: 2015-2016 Academic Year," see ED588511.]