by our College Data Analytics TeamA lot of students will never be charged the advertised price of a school. Instead, they will be provided a financial aid package that will include a combination of scholarships, grants, loans, and work-study. The sum total of attendance at Midlands Technical College can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financial assistance options will MTC offer, and what will you qualify for? Read on for more information. Keep scrolling to see what amount of financial assistance could 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. The figures below will help you estimate the aid you might receive from Midlands Technical College.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Among first-time, full-time freshmen at Midlands Technical College, 91% of new full-time first-years were awarded at least some aid approximately 1248 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 90% | $7,867 |
| Institutional grants & scholarships | 2% | $1,771 |
| Federal Pell grants | 50% | $5,955 |
| State/local grants | 83% | $4,802 |
| Federal student loans | 15% | $4,626 |
Unlike loans, grants and scholarships are gift aid that does not need to be paid back, making them the most desirable form of assistance. Here, around 77% of the undergraduate population received grant aid that averaged $4,860 (for some 6873 recipients).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 77% | $4,860 |
| Federal Pell grants | 37% | $4,433 |
| Federal student loans | 15% | $4,328 |
On-campus students receiving title-IV aid were awarded grants averaging $9,627.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $4,440 |
| $30,001 – $75,000 | $4,786 |
| Over $75,000 | $6,617 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
The net price represents the average annual cost a title-IV-receiving student pays after grant aid is subtracted from the full cost of attendance.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $4,647 |
| Off-campus title-IV students | $5,462 |
To get a personalized net price estimate, try MTC’s net price tool: www.midlandstech.edu/net-price-calculator.
Graduating students at MTC carry a median federal student debt of $6,750 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,750 |
| Median federal debt (graduates only) | $12,000 |
| Typical 10-year monthly payment (graduates) | $127.22/mo |
At a typical 10-year repayment schedule, the median graduate would pay about the monthly figure above.
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The percentiles below describe the cumulative federal debt distribution for borrowers at MTC.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $1,750 |
| 25th percentile | $2,910 |
| 75th percentile | $10,500 |
| 90th percentile (highest-debt students) | $17,679 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Debt by Income Tier
| Income tier | Median federal debt |
|---|---|
| Low income | $7,250 |
| Middle income | $6,500 |
| High income | $5,500 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,866 |
| Continuing-generation students | $5,750 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $5,500 |
| Independent students | $8,360 |
A handful of calculated indicators summarize the debt outlook at MTC.
Most undergraduate borrowing runs through the federal Stafford loan program. These figures summarize annual Stafford program activity at MTC:
| Metric | Value |
|---|---|
| Stafford loan recipients | 35056 |
| Total Stafford loan amount | $326,305,179 |
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 | 327 |
| Total GI Bill amount | $2,266,183 |
| Average GI Bill amount per recipient | $6,930 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 48 |
| Total DoD amount | $90,450 |
| Average DoD amount per recipient | $1,884 |
References
More about our data sources and methodologies.