by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
Curious about the financial aid opportunities at BFIT and what you may be eligible for? Explore the answers here.
$12,602.00 is the typical Benjamin Franklin Institute of Technology’s first year financial aid package. 99% of first-year students are awarded financial aid, primarily comprising grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
Worried about the student loans that might be part of a financing offer? View the average amount of debt per student at Benjamin Franklin Institute of Technology.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The following numbers apply to scholarships and grants largely offered by the school itself.
99% of new students (191 total) were offered scholarships at Benjamin Franklin Institute of Technology, averaging $8,126.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 72% of first-year students (138 total) got a federal grant, for about $5,101.00 per person.
Amount of Financial Assistance Per Income Level
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 52.60% | $14,996.00 |
| Income 30k-48k | 12.50% | $11,233.00 |
| Income 48k-75k | 9.90% | $12,607.00 |
| Income 75k-110k | 7.29% | $7,421.00 |
| Income 110k + | 3.65% | $6,260.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
191 BFIT undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $12,602.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.
