by our College Data Analytics TeamA large number 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 total cost of going to Mech-Tech College can seem tremendous, but do not forget that almost all students are given some form of financial help.
Just what financial assistance solutions will Mech-Tech College deliver, and just what are you going to be eligible for? Read on for answers. Read on to discover just how much financial aid could be open to you.
How much aid you qualify for depends largely on your family’s financial circumstances. The information provided on this page can help you determine how much aid you may receive from Mech-Tech College.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. However, some types of aid are more desirable than others, and some students will receive more than others.
For freshmen starting at Mech-Tech College, 97% of the incoming full-time class was awarded financial aid around 896 new students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 96% | $7,568 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 96% | $7,220 |
| State/local grants | 19% | $552 |
| Federal student loans | 7% | $4,033 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Across the undergraduate body at Mech-Tech College, some 92% of the undergraduate population received grant aid that averaged $6,490 (for some 2075 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 92% | $6,490 |
| Federal Pell grants | 92% | $6,123 |
| Federal student loans | 9% | $3,537 |
Title-IV recipients living on campus saw average grant aid of $7,509.
How much a family pays depends heavily on income, because most aid is awarded on the basis of financial need.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $10,581 |
| $30,001 – $75,000 | $12,065 |
| Over $75,000 | $16,728 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
Net price is the average annual cost after grants and scholarships are subtracted from the published cost of attendance — the figure closest to what a typical aid-receiving student actually pays.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $10,697 |
| Off-campus title-IV students | $10,790 |
For an estimate tailored to your family circumstances, see Mech-Tech College’s net price tool: www.mechtech.edu/NetPriceCalculator/.
A typical borrower at Mech-Tech College leaves with $3,008 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $3,008 |
| Median federal debt (graduates only) | $3,500 |
| Typical 10-year monthly payment (graduates) | $37.11/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
Looking only at the median can be misleading because it hides the spread. The figures below chart the debt distribution at Mech-Tech College.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $714 |
| 25th percentile | $1,189 |
| 75th percentile | $6,986 |
| 90th percentile (highest-debt students) | $11,485 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $2,700 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $3,000 |
| Continuing-generation students | $3,500 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $2,845 |
| Independent students | $3,600 |
The figure below distills the debt data into a single burden category for Mech-Tech College.
Stafford loans make up the bulk of federal direct lending to undergraduates. The totals below capture Stafford lending at Mech-Tech College:
| Metric | Value |
|---|---|
| Stafford loan recipients | 3187 |
| Total Stafford loan amount | $16,444,778 |
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 | 69 |
| Total GI Bill amount | $437,519 |
| Average GI Bill amount per recipient | $6,341 |
References
More about our data sources and methodologies.