by our College Data Analytics TeamMany students will never be charged the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The total cost of going to Hobart Institute of Welding Technology can seem overwhelming, but bear in mind that many students are given some form of financial aid.
What financing options does HIWT offer you, and what will you qualify for? Keep scrolling for more information. Scroll down to see how much school funding could be available to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Use the information below to understand how much financial assistance you may get from Hobart Institute of Welding Technology.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For freshmen starting at Hobart Institute of Welding Technology, 45% of new full-time first-years were awarded at least some aid roughly 205 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 22% | $5,966 |
| Institutional grants & scholarships | 2% | $10,214 |
| Federal Pell grants | 20% | $4,761 |
| State/local grants | 1% | $9,881 |
| Federal student loans | 27% | $5,892 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. Here, some 32% of undergraduates were awarded an average grant or scholarship of $4,728 (covering around 170 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 32% | $4,728 |
| Federal Pell grants | 21% | $4,735 |
| Federal student loans | 27% | $6,064 |
For students living on campus and receiving title-IV aid, grants averaged $3,326.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $18,100 |
| $30,001 – $75,000 | $20,023 |
| Over $75,000 | $23,699 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $21,409 |
| Off-campus title-IV students | $20,705 |
For an estimate tailored to your family circumstances, see HIWT’s NPC: www.welding.org/wp-content/uploads/2019/05/index.html.
The middle student in the debt distribution at HIWT owes $5,500 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,500 |
| Median federal debt (graduates only) | $5,500 |
| Typical 10-year monthly payment (graduates) | $58.31/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The figures below chart the debt distribution at HIWT.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,350 |
| 25th percentile | $5,500 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $9,500 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $6,058 |
| Middle income | $5,500 |
| High income | $5,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $5,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. HIWT.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at HIWT:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2070 |
| Total Stafford loan amount | $12,567,723 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 20 |
| Total GI Bill amount | $511,655 |
| Average GI Bill amount per recipient | $25,583 |
References
More about our data sources and methodologies.