by our College Data Analytics TeamMany students will not be asked to pay 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 Universal Technical Institute-Canton can appear overpowering, but remember that the majority of students obtain some kind of financial assistance.
What financial aid options can MIAT College of Technology offer, and what will you qualify for? Keep reading for more information. Keep reading to learn what amount of financial assistance will be accessible to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Use the information below to understand how much financial assistance you may get from Universal Technical Institute-Canton.
Financial assistance, available as scholarships, loans, and work-study, is a way schools lower the price of attendance so many students can enroll. Some kinds of aid are clearly preferable to others, and outcomes differ across students.
Looking at the entering class at Universal Technical Institute-Canton, 90% of entering full-time freshmen got some type of financial assistance roughly 651 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 70% | $7,675 |
| Institutional grants & scholarships | 23% | $2,490 |
| Federal Pell grants | 61% | $7,689 |
| State/local grants | 0% | — |
| Federal student loans | 74% | $9,993 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. At MIAT College of Technology, roughly 33% of the undergraduate population received grant aid that averaged $7,766 (covering around 549 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 33% | $7,766 |
| Federal Pell grants | 29% | $7,474 |
| Federal student loans | 35% | $9,855 |
For students living on campus and receiving title-IV aid, grants averaged $6,187.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $19,139 |
| $30,001 – $75,000 | $21,430 |
| Over $75,000 | $26,025 |
The numbers above are post-aid net prices, so they already account for grants and scholarships.
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 | $22,985 |
| Off-campus title-IV students | $21,202 |
For a customized cost estimate, visit MIAT College of Technology’s online cost calculator: uti.edu/admissions/tuition.
A typical borrower at MIAT College of Technology leaves with $9,500 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $9,500 |
| Median federal debt (graduates only) | $12,801 |
| Typical 10-year monthly payment (graduates) | $135.71/mo |
Spreading the median graduate debt over a standard 10-year repayment schedule works out to roughly the monthly payment shown above.
The median alone does not show how widely outcomes vary across the student body. The figures below chart the debt distribution at MIAT College of Technology.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,750 |
| 25th percentile | $7,665 |
| 75th percentile | $19,752 |
| 90th percentile (highest-debt students) | $24,166 |
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 | $9,500 |
| Middle income | $9,834 |
| High income | $9,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $9,500 |
| Continuing-generation students | $11,500 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $8,969 |
| Independent students | $11,875 |
The figure below distills the debt data into a single burden category for MIAT College of Technology.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at MIAT College of Technology:
| Metric | Value |
|---|---|
| Stafford loan recipients | 8083 |
| Total Stafford loan amount | $120,540,971 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill activity
| Metric | Value |
|---|---|
| GI Bill recipients | 108 |
| Total GI Bill amount | $2,342,380 |
| Average GI Bill amount per recipient | $21,689 |
References
More about our data sources and methodologies.