by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
What financial aid options does NYIT offer, and what will you qualify for? Keep scrolling for answers.
New York Institute of Technology average financial aid offer for freshmen students is $27,472.00. A significant 99% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Loans are a part of financial aid plans, but the only true college discount is a scholarship or grant that you don’t have to repay.
A college loan is not a true college discount, but rather an outcome to consider. Find out how much student loan debt from New York Institute of Technology you may end up taking on.
Institutional scholarships and grants are financial aid awards given by colleges and universities to help students manage tuition costs and other education-related expenses. These awards, which do not need to be repaid, can be classified as merit-based or need-based. Students who excel academically, possess unique talents, or have specific skills can be eligible for merit-based institutional scholarships. Factors such as high school performance, standardized test scores, or participation in extracurricular activities often contribute to eligibility for these scholarships. Need-based institutional grants, on the other hand, are awarded to students who demonstrate financial need. The amount given is generally based on the student’s family’s financial situation, aiming to cover the gap between the cost of attendance and the family’s capacity to pay. To assess a student’s eligibility for need-based grants, colleges and universities may rely on information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants are essential for students, as they can substantially lower college expenses and make higher education more affordable.
The following numbers pertain to assistance that is supplied by New York Institute of Technology.
98% of new students (800 total) were given scholarships at New York Institute of Technology, averaging $23,425.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 88% of freshman students (716 total) obtained federal grant aid, averaging $3,397.00 a piece.
Amount of Financial Assistance Per Income Level
The table below shows grant and scholarship distributions by income for first-year students getting any sort of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 22.79% | $31,618.00 |
| Income 30k-48k | 13.24% | $31,921.00 |
| Income 48k-75k | 12.50% | $29,172.00 |
| Income 75k-110k | 7.84% | $26,895.00 |
| Income 110k + | 14.09% | $22,401.00 |
The table above shows students who are receiving Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more.
Of the 816 undergraduate students at New York Institute of Technology around 99% (805 total) receive some form of grant aid. The typical amount awarded was $27,472.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.