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 price tag of going to Lincoln College of Technology-Melrose Park can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial aid options can Lincoln Tech - Melrose Park offer you, and what will you qualify for? Keep reading for more information. Keep scrolling to learn how much school funding will be available 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 Lincoln College of Technology-Melrose Park.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Among first-time, full-time freshmen at Lincoln College of Technology-Melrose Park, 94% of first-time, full-time freshmen received some form of financial aid approximately 1140 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 88% | $4,699 |
| Institutional grants & scholarships | 52% | $1,163 |
| Federal Pell grants | 75% | $4,529 |
| State/local grants | 0% | — |
| Federal student loans | 87% | $8,150 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Across the undergraduate body at Lincoln Tech - Melrose Park, around 87% of undergraduates were awarded grant or scholarship aid averaging $4,255 (for some 1848 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 87% | $4,255 |
| Federal Pell grants | 73% | $4,182 |
| Federal student loans | 85% | $7,479 |
For students living on campus and receiving title-IV aid, grants averaged $3,898.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $23,652 |
| $30,001 – $75,000 | $24,595 |
| Over $75,000 | $27,173 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $25,598 |
| Off-campus title-IV students | $24,334 |
For a personalized estimate based on your family’s financial situation, use Lincoln Tech - Melrose Park’s NPC: www.lincolntech.edu/net-price-calculator.
Graduating students at Lincoln Tech - Melrose Park carry a median federal student debt of $9,500 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,500 |
| Median federal debt (graduates only) | $11,250 |
| Typical 10-year monthly payment (graduates) | $119.27/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
Looking only at the median can be misleading because it hides the spread. Use the percentiles below to see the debt range at Lincoln Tech - Melrose Park.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $5,500 |
| 75th percentile | $16,000 |
| 90th percentile (highest-debt students) | $19,504 |
Debt outcomes are not uniform — they shift with income, first-generation status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $9,878 |
| Middle income | $9,500 |
| High income | $8,967 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $9,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,750 |
| Independent students | $11,250 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Lincoln Tech - Melrose Park.
Most undergraduate borrowing runs through the federal Stafford loan program. The aggregate figures below show how active the program is at Lincoln Tech - Melrose Park:
| Metric | Value |
|---|---|
| Stafford loan recipients | 62354 |
| Total Stafford loan amount | $709,880,602 |
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 | 55 |
| Total GI Bill amount | $915,550 |
| Average GI Bill amount per recipient | $16,646 |
References
More about our data sources and methodologies.