by our College Data Analytics TeamMost students will not be asked to pay the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at Carnegie Institute can sound tremendous, but do not forget that almost all students get some type of financial help.
What financing options does Carnegie Institute offer, and what will you qualify for? Keep scrolling for more information. Keep going to see what amount of financial assistance could be accessible to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. The figures below will help you estimate the aid you might receive from Carnegie Institute.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
For freshmen starting at Carnegie Institute, 67% of new full-time first-years were awarded at least some aid (about 4 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 50% | $7,998 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 50% | $5,907 |
| State/local grants | 17% | $4,755 |
| Federal student loans | 17% | $8,467 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. Across the undergraduate body at Carnegie Institute, about 71% of undergrads got grants or scholarships worth on average $4,723 (for some 73 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 71% | $4,723 |
| Federal Pell grants | 63% | $4,941 |
| Federal student loans | 76% | $11,647 |
For students living on campus and receiving title-IV aid, grants averaged $4,810.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $11,036 |
| $30,001 – $75,000 | $16,108 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $17,042 |
| Off-campus title-IV students | $14,418 |
For an estimate tailored to your family circumstances, see Carnegie Institute’s NPC: www.carnegie-institute.edu/net-price-calculator/.
Graduating students at Carnegie Institute carry a median federal student debt of $8,568 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,568 |
| Median federal debt (graduates only) | $9,336 |
| Typical 10-year monthly payment (graduates) | $98.98/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at Carnegie Institute.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,927 |
| 25th percentile | $4,510 |
| 75th percentile | $16,653 |
| 90th percentile (highest-debt students) | $21,633 |
Median debt varies by family income, by first-generation status, and by dependency status.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $7,149 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,134 |
| Continuing-generation students | $12,837 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,502 |
| Independent students | $9,500 |
The figure below distills the debt data into a single burden category for Carnegie Institute.
Stafford loans make up the bulk of federal direct lending to undergraduates. The totals below capture Stafford lending at Carnegie Institute:
| Metric | Value |
|---|---|
| Stafford loan recipients | 1454 |
| Total Stafford loan amount | $12,191,140 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 1 |
| Total GI Bill amount | $10,875 |
| Average GI Bill amount per recipient | $10,875 |
References
More about our data sources and methodologies.