College Factual  by our College Data Analytics Team
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Can You Afford Illinois Institute of Technology?

Concerned about paying for college? Take a look at Illinois Tech’s financial aid options, including grants, scholarships, and student loans, then calculate the net price based on your income level to determine if you can afford to attend this school.

2020 - 2021 Costs Between $24,918 and $70,908

Feeling a little stressed about paying $70,908 to attend Illinois Institute of Technology each year? This number can be deceiving, and for many, the net price you pay will be less.

While there is no tuition reduction for Illinois students, 100.0% of freshmen receive some form of financial aid, with the average amount totaling $36,960. Students from low-income families receive an average of $45,990 in aid during their first year.

Cost (no aid)

Tuition and fees$50,230
+ Room and board$15,328
+ Other expenses$5,350
Total cost$70,908
Affordability Score (4 out of 100)
more expensive
less expensive

Net Price (with average aid)

Total cost$70,908
- Grants and scholarships$36,960
Net price$33,948
Affordability Score (14 out of 100)
more expensive
less expensive

Average Net Price for Low Income Undergraduates

Total cost$70,908
- Grants and scholarships$45,990
Net price$24,918
Affordability Score (28 out of 100)
more expensive
less expensive

Learn more about tuition and fees, room, board and other expenses, and financial aid options at Illinois Tech.

Projected Costs Between $104,184 and $460,443 For a Four Year Degree. Between $51,434 and $219,677 For a Two Year Degree.

Looking at the total projected cost of a college education over the course of two / four (or more) years can feel a little overwhelming. However, doing so will help better prepare you for the financial commitment you are making.

The overall cost for on-campus students to attend Illinois Tech in 2020 - 2021 was $70,908. To calculate future costs, we looked at the prior five years of data and determined that this cost increased an average of 4.7% each year. If this trend continues, we expect the full cost for incoming freshmen to be $77,715 during their first year. By their senior year, that cost will be approximately $89,171 for a bachelor degree candidate ($81,360 for an associate degree candidate) for a total of $333,421 over the course of four years ($159,075 over the course of two years). These numbers do not take into consideration financial aid, which reduces this overall cost by varying amounts per student.

Remember, the full costs quoted above are not what most students will pay, and the net price varies quite a bit based on individual circumstances.

Average Net Price at Illinois Institute of Technology

Cost With Interest

The tables below outlines how the overall degree net cost can vary depending on your situation. This table also highlights the impact student loans can have on the overall cost of college.

Projected 2-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*4.6%4.7%
Freshman year$25,555$37,150$77,715
Senior year$25,879$38,863$81,360
Total 2-year net price$51,434$76,013$159,075
10-year loan interest @ 6.8%$19,595$28,958$60,602
Total monthly payment$592$875$1,831
Total amount paid$71,029$104,971$219,677
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*4.6%4.7%
Freshman year$25,555$37,150$77,715
Senior year$26,541$42,529$89,171
Total 4-year net price$104,184$159,196$333,421
10-year loan interest @ 6.8%$39,690$60,648$127,021
Total monthly payment$1,199$1,832$3,837
Total amount paid$143,874$219,843$460,443

Visit net price and financial aid to learn more about the total cost of attending Illinois Institute of Technology.

Further Questions to Consider

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