by our College Data Analytics TeamMany students will not be asked to pay the full, advertised sticker price of a school. Instead, they will be given a financial aid offer that will include a combination of scholarships, grants, loans, and work-study. The sum total of attendance at Spa Tech Institute-Westboro can sound tremendous, but do not forget that almost all students get some type of financial help.
What financial assistance options will Spa Tech Institute-Westboro offer, and what will you qualify for? Read on for more information. Keep scrolling to discover what amount of financial assistance could be accessible to you.
Eligibility for aid and scholarships is driven mostly by your household’s income and need. The information provided on this page can help you determine how much aid you may receive from Spa Tech Institute-Westboro.
Financial aid, in the form of loans, grants, work-study, and scholarships, is one way colleges reduce the cost of attendance so most students can actually afford to attend. However, some types of aid are more desirable than others, and some students will receive more than others.
For incoming first-year students at Spa Tech Institute-Westboro, 87% of the incoming full-time class was awarded financial aid some 39 first-years).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 53% | $4,119 |
| Institutional grants & scholarships | 0% | — |
| Federal Pell grants | 51% | $3,472 |
| State/local grants | 7% | $6,334 |
| Federal student loans | 76% | $4,769 |
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 this school, some 36% of undergraduates were awarded grant or scholarship aid averaging $3,448 (among about 102 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 36% | $3,448 |
| Federal Pell grants | 34% | $3,149 |
| Federal student loans | 46% | $5,103 |
For on-campus title-IV students, average grant aid came to $2,552.
Since aid is largely need-based, the real cost of attendance falls steeply for lower-income families.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $17,685 |
| $30,001 – $75,000 | $19,989 |
| Over $75,000 | $21,442 |
Each amount is the average cost remaining once grant aid is subtracted, by income band.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $28,170 |
| Off-campus title-IV students | $18,910 |
For a customized cost estimate, visit Spa Tech Institute-Westboro’s online cost calculator: www.spatech.edu/consumer-information.html.
The median federal debt load at Spa Tech Institute-Westboro comes to $6,333 of federal borrowing.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $6,333 |
| Median federal debt (graduates only) | $6,333 |
| Typical 10-year monthly payment (graduates) | $67.14/mo |
Under a standard ten-year plan, the median graduate’s monthly payment lands near the figure above.
Looking only at the median can be misleading because it hides the spread. The percentiles below describe the cumulative federal debt distribution for borrowers at Spa Tech Institute-Westboro.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $2,750 |
| 25th percentile | $3,666 |
| 75th percentile | $6,861 |
| 90th percentile (highest-debt students) | $8,127 |
Outcomes differ by income bracket, by first-generation status, and by whether a student is financially dependent.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $6,333 |
| Middle income | $6,333 |
| High income | $3,667 |
First-Generation Comparison
| Cohort | Median federal debt |
|---|---|
| First-generation students | $6,333 |
| Continuing-generation students | $6,333 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $3,666 |
| Independent students | $6,333 |
The figure below distills the debt data into a single burden category for Spa Tech Institute-Westboro.
The Stafford program is the federal direct-loan vehicle most undergraduates use. Below is the annual Stafford program activity at Spa Tech Institute-Westboro:
| Metric | Value |
|---|---|
| Stafford loan recipients | 4169 |
| Total Stafford loan amount | $25,068,845 |
References
More about our data sources and methodologies.