by our College Data Analytics TeamA lot of students will never be charged 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 sum total of attendance at Marion Technical College can sound overpowering, but remember that the majority of students get some type of financial assistance.
Just what financial assistance solutions will MTC provide, and just what are you going to be eligible for? Read on for answers. Keep going to find out what amount of financial assistance will be accessible to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. The information provided on this page can help you determine how much aid you may receive from Marion Technical College.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. However, some types of aid are more desirable than others, and some students will receive more than others.
At Marion Technical College, 87% of first-year full-time students received aid of some kind (about 124 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 80% | $5,462 |
| Institutional grants & scholarships | 36% | $1,094 |
| Federal Pell grants | 66% | $5,601 |
| State/local grants | 13% | $2,176 |
| Federal student loans | 22% | $3,375 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At MTC, some 26% of the undergraduate population received grant aid that averaged $4,501 (covering around 790 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 26% | $4,501 |
| Federal Pell grants | 23% | $4,264 |
| Federal student loans | 8% | $4,220 |
On-campus students receiving title-IV aid were awarded grants averaging $5,609.
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 | $5,022 |
| $30,001 – $75,000 | $5,990 |
| Over $75,000 | $10,651 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
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 | $7,417 |
| Off-campus title-IV students | $6,027 |
To project your own net price, use MTC’s NPC: www.mtc.edu/financial-aid/pdfs/NetPriceCalculator/npcalc1.htm.
The median federal debt load at MTC comes to $5,500 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $5,500 |
| Median federal debt (graduates only) | $8,300 |
| Typical 10-year monthly payment (graduates) | $87.99/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
Looking only at the median can be misleading because it hides the spread. The figures below chart the debt distribution at MTC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,500 |
| 25th percentile | $2,544 |
| 75th percentile | $10,500 |
| 90th percentile (highest-debt students) | $17,213 |
Median debt varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,000 |
| Middle income | $5,500 |
| High income | $5,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $5,500 |
| Continuing-generation students | $4,912 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,400 |
| Independent students | $6,000 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. MTC.
The Stafford loan program is the largest source of federal direct loans to undergraduates. The totals below capture Stafford lending at MTC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 4609 |
| Total Stafford loan amount | $40,273,994 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 24 |
| Total GI Bill amount | $73,256 |
| Average GI Bill amount per recipient | $3,052 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 0 |
| Total DoD amount | $0 |
References
More about our data sources and methodologies.