by our College Data Analytics TeamMost students are not billed the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The price tag of going to Hennepin Technical College can appear overwhelming, but bear in mind that many students obtain some kind of financial aid.
Just what financial aid solutions can Hennepin Technical College provide, and just what are you going to be eligible for? Keep reading for answers. Scroll down to discover what amount of financial assistance could be accessible to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Use the information below to understand how much financial assistance you may get from Hennepin Technical College.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Among first-time, full-time freshmen at Hennepin Technical College, 75% of new full-time first-years were awarded at least some aid (about 246 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 56% | $6,364 |
| Institutional grants & scholarships | 3% | $1,801 |
| Federal Pell grants | 44% | $5,194 |
| State/local grants | 51% | $2,290 |
| Federal student loans | 25% | $5,452 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. Here, about 48% of undergraduates were awarded an average grant or scholarship of $4,690 (among about 1853 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 48% | $4,690 |
| Federal Pell grants | 29% | $4,049 |
| Federal student loans | 20% | $6,907 |
On-campus students receiving title-IV aid were awarded grants averaging $5,760.
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 | $8,763 |
| $30,001 – $75,000 | $9,522 |
| Over $75,000 | $15,129 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $10,272 |
| Off-campus title-IV students | $10,925 |
For an estimate tailored to your family circumstances, see Hennepin Technical College’s net price tool: www.minnstate.edu/admissions/calculator/hennepin.html.
The median federal debt load at Hennepin Technical College comes to $9,500 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,500 |
| Median federal debt (graduates only) | $11,433 |
| Typical 10-year monthly payment (graduates) | $121.21/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The numbers below show the full range, not just the middle of the distribution. Use the percentiles below to see the debt range at Hennepin Technical College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,042 |
| 75th percentile | $19,812 |
| 90th percentile (highest-debt students) | $32,501 |
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 | $11,000 |
| Middle income | $9,500 |
| High income | $8,708 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,399 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $6,500 |
| Independent students | $11,179 |
A handful of calculated indicators summarize the debt outlook at Hennepin Technical College.
Most undergraduate borrowing runs through the federal Stafford loan program. Below is the annual Stafford program activity at Hennepin Technical College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 16869 |
| Total Stafford loan amount | $259,081,413 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 73 |
| Total GI Bill amount | $269,096 |
| Average GI Bill amount per recipient | $3,686 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.