by our College Data Analytics TeamA large number of 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 sum total of attendance at Oregon Institute of Technology can sound overwhelming, but bear in mind that many students get some type of financial aid.
What financial assistance options will OIT offer you, and what will you qualify for? Read on for more information. Read on to discover how much school funding could be available to you.
The amount of financial aid and scholarships you are eligible for will vary depending on your family’s income. Use the information below to understand how much financial assistance you may get from Oregon 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.
Looking at the entering class at Oregon Institute of Technology, 97% of first-time, full-time freshmen received some form of financial aid around 391 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 95% | $9,864 |
| Institutional grants & scholarships | 91% | $6,227 |
| Federal Pell grants | 35% | $5,340 |
| State/local grants | 29% | $6,019 |
| Federal student loans | 44% | $4,953 |
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 39% of undergrads got grants or scholarships worth on average $10,017 (across approximately 1964 awardees).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 39% | $10,017 |
| Federal Pell grants | 18% | $5,549 |
| Federal student loans | 22% | $7,266 |
Among title-IV aid recipients living on campus, grant and scholarship aid averaged $11,818.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $11,561 |
| $30,001 – $75,000 | $14,215 |
| Over $75,000 | $20,848 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
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 | $15,706 |
| Off-campus title-IV students | $16,391 |
To get a personalized net price estimate, try OIT’s online cost calculator: www.oit.edu/college-costs/tuition-fees/net-price-calculator.
The middle student in the debt distribution at OIT owes $15,625 of cumulative federal debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,625 |
| Median federal debt (graduates only) | $22,500 |
| Typical 10-year monthly payment (graduates) | $238.54/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
The numbers below show the full range, not just the middle of the distribution. The figures below chart the debt distribution at OIT.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $3,167 |
| 25th percentile | $6,500 |
| 75th percentile | $27,529 |
| 90th percentile (highest-debt students) | $37,212 |
Median debt varies by family income, by first-generation status, and by dependency status.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $17,500 |
| Middle income | $15,265 |
| High income | $13,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,765 |
| Continuing-generation students | $14,673 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $13,167 |
| Independent students | $16,987 |
The figure below distills the debt data into a single burden category for OIT.
The Stafford loan program is the largest source of federal direct loans to undergraduates. These figures summarize annual Stafford program activity at OIT:
| Metric | Value |
|---|---|
| Stafford loan recipients | 10514 |
| Total Stafford loan amount | $197,738,949 |
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 | 104 |
| Total GI Bill amount | $956,307 |
| Average GI Bill amount per recipient | $9,195 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 8 |
| Total DoD amount | $25,896 |
| Average DoD amount per recipient | $3,237 |
References
More about our data sources and methodologies.