by our College Data Analytics TeamMost students are not billed the full sticker price of a school. Rather, they are offered a financial aid plan that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The total cost of going to Lamar Institute of Technology can seem tremendous, but do not forget that almost all students are given some form of financial help.
What financial assistance options will Lamar Institute of Technology offer you, and what will you qualify for? Read on for more information. Read on to learn just how much financial aid will be open to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Use the information below to understand how much financial assistance you may get from Lamar Institute of Technology.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
For incoming first-year students at Lamar Institute of Technology, 77% of new full-time first-years were awarded at least some aid around 361 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 77% | $6,497 |
| Institutional grants & scholarships | 28% | $2,089 |
| Federal Pell grants | 57% | $5,866 |
| State/local grants | 16% | $6,435 |
| Federal student loans | 19% | $6,085 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Lamar Institute of Technology, approximately 32% of undergraduate students received gift aid averaging $7,109 (across roughly 1682 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 32% | $7,109 |
| Federal Pell grants | 26% | $4,697 |
| Federal student loans | 13% | $6,642 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $5,379.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $7,425 |
| $30,001 – $75,000 | $8,676 |
| Over $75,000 | $12,117 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
After grants and scholarships come off the published price, what remains is the net price — the best estimate of true out-of-pocket cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $13,866 |
| Off-campus title-IV students | $8,167 |
For an estimate tailored to your family circumstances, see Lamar Institute of Technology’s net price tool: apps.highered.texas.gov/net-price-calculator/.
A typical borrower at Lamar Institute of Technology leaves with $8,287 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $8,287 |
| Median federal debt (graduates only) | $13,076 |
| Typical 10-year monthly payment (graduates) | $138.63/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Looking only at the median can be misleading because it hides the spread. These percentiles trace how cumulative federal debt is spread among borrowers at Lamar Institute of Technology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,000 |
| 25th percentile | $3,435 |
| 75th percentile | $11,996 |
| 90th percentile (highest-debt students) | $19,996 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $8,808 |
| Middle income | $8,250 |
| High income | $6,500 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $8,540 |
| Continuing-generation students | $7,003 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $9,500 |
The figure below distills the debt data into a single burden category for Lamar Institute of Technology.
Most undergraduate borrowing runs through the federal Stafford loan program. The annual Stafford volume below reflects program activity at Lamar Institute of Technology:
| Metric | Value |
|---|---|
| Stafford loan recipients | 6506 |
| Total Stafford loan amount | $65,035,142 |
The GI Bill and DoD Tuition Assistance are the main federal aid routes for veterans and service members.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 86 |
| Total GI Bill amount | $165,823 |
| Average GI Bill amount per recipient | $1,928 |
References
More about our data sources and methodologies.