by our College Data Analytics TeamA lot of 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 total cost of going to Institute of Technology can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial aid options can Institute of Technology offer, and what will you qualify for? Keep reading for more information. Keep going to find out just how much financial aid will be open to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Continue reading to find information to help you understand just how much assistance you can expect to receive from Institute of Technology.
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.
Looking at the entering class at Institute of Technology, 93% of first-time, full-time freshmen received some form of financial aid (about 233 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 60% | $6,500 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 55% | $5,604 |
| State/local grants | 6% | $11,651 |
| Federal student loans | 69% | $7,321 |
The best aid is gift aid: grants and scholarships that carry no repayment obligation. At this school, approximately 52% of undergraduate students received gift aid averaging $6,433 (for some 261 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 52% | $6,433 |
| Federal Pell grants | 48% | $5,647 |
| Federal student loans | 58% | $7,379 |
For students living on campus and receiving title-IV aid, grants averaged $4,280.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $32,500 |
| $30,001 – $75,000 | $32,860 |
| Over $75,000 | $35,073 |
Remember these are net prices — what families pay after gift aid, not before.
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 | $37,376 |
| Off-campus title-IV students | $33,197 |
To get a personalized net price estimate, try Institute of Technology’s online cost calculator: www.iot.edu/financial-aid/net-price-calculator/.
The median federal debt load at Institute of Technology comes to $9,500 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,500 |
| Median federal debt (graduates only) | $9,500 |
| Typical 10-year monthly payment (graduates) | $100.72/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
The numbers below show the full range, not just the middle of the distribution. The four reference points below map the debt distribution at Institute of Technology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,166 |
| 25th percentile | $5,497 |
| 75th percentile | $9,500 |
| 90th percentile (highest-debt students) | $12,667 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $9,500 |
| Middle income | $9,500 |
| High income | $7,787 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
These indicators are derived from the underlying debt data and summarize the overall picture at Institute of Technology.
Most undergraduate borrowing runs through the federal Stafford loan program. Below is the annual Stafford program activity at Institute of Technology:
| Metric | Value |
|---|---|
| Stafford loan recipients | 2913 |
| Total Stafford loan amount | $26,305,930 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 7 |
| Total GI Bill amount | $45,572 |
| Average GI Bill amount per recipient | $6,510 |
References
More about our data sources and methodologies.