by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
Interested in understanding the financial aid resources available at Penn College and your eligibility? Find the answers you seek below.
$7,491.00 is the typical Pennsylvania College of Technology’s first year financial aid package. A significant 88% of freshmen benefit from financial aid, with the main type being loans.
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
Student debt really should be considered to be an added expense and not as “aid” or a “discount”. Find more about student loan debt at Pennsylvania College of Technology.
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 Pennsylvania College of Technology.
24% of new students (268 total) were offered scholarships at Pennsylvania College of Technology, averaging $5,277.00 per person. This puts it in the top 50th percentile among colleges and universities nationwide.
In addition to scholarships, 40% of first-year students (450 total) got federal grant aid, averaging $4,651.00 per person.
The following table displays scholarship and grant allocations by family income for freshman students receiving any kind of federal Title IV assistance, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 18.00% | $9,831.00 |
| Income 30k-48k | 9.92% | $8,527.00 |
| Income 48k-75k | 11.24% | $6,049.00 |
| Income 75k-110k | 9.04% | $3,285.00 |
| Income 110k + | 3.86% | $930.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
975 Penn College undergrads obtain grant aid (this is about 88% of the entire undergraduate student population). The average amount these students receive is $7,491.00.
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.
