by our College Data Analytics TeamMany students will not be asked to pay 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 price tag of going to New York Institute of Technology can appear overwhelming, but bear in mind that many students obtain some kind of financial aid.
What financial aid options can NYIT offer you, and what will you qualify for? Keep reading for more information. 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. Continue reading to find information to help you understand just how much assistance you can expect to receive from New York Institute of Technology.
Through a mix of loans, grants, work-study and scholarships, schools bring down the effective cost so more students can attend. Bear in mind that not all aid is equal, and the amount any one student receives can vary widely.
Among first-time, full-time freshmen at New York Institute of Technology, 100% of the incoming full-time class was awarded financial aid (about 834 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 100% | $32,319 |
| Institutional grants & scholarships | 100% | $27,205 |
| Federal Pell grants | 52% | $6,197 |
| State/local grants | 42% | $3,711 |
| Federal student loans | 44% | $5,048 |
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 NYIT, some 95% of undergraduate students received gift aid averaging $29,084 (covering around 3183 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $29,084 |
| Federal Pell grants | 45% | $6,129 |
| Federal student loans | 45% | $6,385 |
For on-campus title-IV students, average grant aid came to $34,533.
The figures below show the average net price — cost after all grant and scholarship aid — broken out by family income.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $16,925 |
| $30,001 – $75,000 | $19,600 |
| Over $75,000 | $27,660 |
Each figure is the net price after grants and scholarships, not the published sticker price.
Net price is the cost remaining after grant and scholarship aid is subtracted from the sticker price, and it is the most useful single number for estimating real cost.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $22,443 |
| Off-campus title-IV students | $20,709 |
For a customized cost estimate, visit NYIT’s online cost calculator: www.nyit.edu/admissions/net_price_calculator.
A typical borrower at NYIT leaves with $17,000 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $17,000 |
| Median federal debt (graduates only) | $23,334 |
| Typical 10-year monthly payment (graduates) | $247.38/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
A single median figure conceals how much debt outcomes differ student to student. These percentiles trace how cumulative federal debt is spread among borrowers at NYIT.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,750 |
| 25th percentile | $6,750 |
| 75th percentile | $28,000 |
| 90th percentile (highest-debt students) | $37,250 |
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 | $18,000 |
| Middle income | $17,000 |
| High income | $16,000 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $17,500 |
| Continuing-generation students | $16,000 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $16,000 |
| Independent students | $25,000 |
A handful of calculated indicators summarize the debt outlook at NYIT.
The Stafford program is the federal direct-loan vehicle most undergraduates use. These figures summarize annual Stafford program activity at NYIT:
| Metric | Value |
|---|---|
| Stafford loan recipients | 27734 |
| Total Stafford loan amount | $1,333,881,646 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 69 |
| Total GI Bill amount | $2,026,243 |
| Average GI Bill amount per recipient | $29,366 |
References
More about our data sources and methodologies.