by our College Data Analytics TeamA lot of students will never be charged the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The sum total of attendance at New England Institute of Technology can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financial assistance options will New England Tech offer, and what will you qualify for? Read on for more information. Keep reading to see what amount of financial assistance could be accessible to you.
How much aid you qualify for depends largely on your family’s financial circumstances. Read on to get a sense of the financial assistance available at New England Institute of Technology.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Note that some aid is more valuable than the rest, and individual awards are far from uniform.
Looking at the entering class at New England Institute of Technology, 94% of first-time, full-time freshmen received some form of financial aid around 454 freshmen).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 90% | $11,594 |
| Institutional grants & scholarships | 87% | $8,721 |
| Federal Pell grants | 45% | $5,520 |
| State/local grants | 32% | $786 |
| Federal student loans | 70% | $5,704 |
Gift aid — grants and scholarships — beats loans every time because none of it has to be repaid. Here, some 81% of undergraduate students received gift aid averaging $14,407 (across approximately 1390 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 81% | $14,407 |
| Federal Pell grants | 43% | $6,217 |
| Federal student loans | 71% | $7,891 |
For students living on campus and receiving title-IV aid, grants averaged $12,060.
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 | $32,382 |
| $30,001 – $75,000 | $33,238 |
| Over $75,000 | $42,900 |
Each figure is the net price after grants and scholarships, not the published sticker price.
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 | $36,483 |
| Off-campus title-IV students | $36,906 |
For a customized cost estimate, visit New England Tech’s NPC: www.neit.edu/admissions-aid/net-price-calculator.
Graduating students at New England Tech carry a median federal student debt of $12,000 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $12,000 |
| Median federal debt (graduates only) | $16,668 |
| Typical 10-year monthly payment (graduates) | $176.71/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
A single median figure conceals how much debt outcomes differ student to student. The percentiles below describe the cumulative federal debt distribution for borrowers at New England Tech.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $5,502 |
| 75th percentile | $20,734 |
| 90th percentile (highest-debt students) | $30,332 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $13,000 |
| Middle income | $12,000 |
| High income | $12,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $12,000 |
| Continuing-generation students | $12,000 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $12,000 |
| Independent students | $14,125 |
These indicators are derived from the underlying debt data and summarize the overall picture at New England Tech.
Most undergraduate borrowing runs through the federal Stafford loan program. The totals below capture Stafford lending at New England Tech:
| Metric | Value |
|---|---|
| Stafford loan recipients | 19985 |
| Total Stafford loan amount | $343,866,659 |
Military-affiliated students can tap the Post-9/11 GI Bill and DoD Tuition Assistance.
GI Bill volume
| Metric | Value |
|---|---|
| GI Bill recipients | 129 |
| Total GI Bill amount | $2,052,513 |
| Average GI Bill amount per recipient | $15,911 |
References
More about our data sources and methodologies.