by our College Data Analytics TeamThe majority of students are not billed 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 total price of attendance at Somerset County Technology Center can feel overpowering, but remember that the majority of students receive some sort of financial assistance.
What financial aid options can Somerset County Technology Center offer you, and what will you qualify for? Keep reading for more information. Scroll down to find out just how much financial aid will be open to you.
The amount of financial aid you can receive varies from person to person and will depend on your family’s economic situation. Continue reading to find information to help you understand just how much assistance you can expect to receive from Somerset County Technology Center.
Colleges use loans, grants, scholarships and work-study to minimize what students actually pay out of pocket. 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 Somerset County Technology Center, 100% of first-time, full-time freshmen received some form of financial aid (about 36 students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 28% | $6,166 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 28% | $5,616 |
| State/local grants | 3% | $5,500 |
| Federal student loans | 28% | $10,030 |
Because grants and scholarships do not have to be repaid, they are the most sought-after type of financial aid. At Somerset County Technology Center, some 30% of undergraduates were awarded grant or scholarship aid averaging $6,893 (for some 18 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 30% | $6,893 |
| Federal Pell grants | 30% | $6,587 |
| Federal student loans | 45% | $7,871 |
Title-IV recipients living on campus saw average grant aid of $6,166.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $16,620 |
| $30,001 – $75,000 | $17,883 |
These figures reflect what title-IV aid recipients pay after grant and scholarship aid is applied.
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 | $14,444 |
| Off-campus title-IV students | $16,947 |
To get a personalized net price estimate, try Somerset County Technology Center’s NPC: sctc.net/NetPriceCalculator/index.html.
The median federal debt load at Somerset County Technology Center comes to $11,500 in federal loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $11,500 |
Percentiles reveal the spread — half of all borrowers fall between the 25th and 75th percentiles. The four reference points below map the debt distribution at Somerset County Technology Center.
| Percentile | Cumulative Federal Debt |
|---|---|
| 25th percentile | $10,194 |
| 75th percentile | $17,083 |
How much a student borrows depends heavily on family income, first-gen status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $15,952 |
Dependency-Status Comparison
| Cohort | Median federal debt |
|---|---|
| Dependent students | $10,194 |
| Independent students | $17,083 |
Federal data publishes pre-calculated indicators that summarize debt outcomes. Somerset County Technology Center.
Stafford loans are the federal government’s primary direct undergraduate lending program. Below is the annual Stafford program activity at Somerset County Technology Center:
| Metric | Value |
|---|---|
| Stafford loan recipients | 366 |
| Total Stafford loan amount | $3,951,831 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 1 |
| Total GI Bill amount | $4,052 |
| Average GI Bill amount per recipient | $4,052 |
References
More about our data sources and methodologies.