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 price tag of going to Texas Tech University can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
Just what financial assistance solutions will Texas Tech provide, and just what are you going to be eligible for? Read on for answers. Keep going to discover how much school funding could be available to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. The figures below will help you estimate the aid you might receive from Texas Tech University.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
Among first-time, full-time freshmen at Texas Tech University, 90% of first-time, full-time freshmen received some form of financial aid approximately 6394 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 79% | $10,494 |
| Institutional grants & scholarships | 76% | $7,149 |
| Federal Pell grants | 31% | $5,851 |
| State/local grants | 21% | $4,817 |
| Federal student loans | 40% | $5,259 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At Texas Tech, about 70% of undergraduates were awarded grant or scholarship aid averaging $10,263 (across roughly 22737 students).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 70% | $10,263 |
| Federal Pell grants | 28% | $5,853 |
| Federal student loans | 41% | $6,351 |
On-campus students receiving title-IV aid were awarded grants averaging $8,373.
Need-based aid means lower-income families typically pay far less than the sticker price suggests.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $14,403 |
| $30,001 – $75,000 | $16,833 |
| Over $75,000 | $24,463 |
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 | $19,070 |
| Off-campus title-IV students | $20,071 |
For an estimate tailored to your family circumstances, see Texas Tech’s NPC: www.depts.ttu.edu/financialaid/netCostCalcHome.php.
The median student at Texas Tech graduates with $15,250 in federal student debt.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $15,250 |
| Median federal debt (graduates only) | $21,500 |
| Typical 10-year monthly payment (graduates) | $227.94/mo |
The 10-year payment estimate assumes a standard federal repayment plan and the median graduate debt amount.
The median alone does not show how widely outcomes vary across the student body. The figures below chart the debt distribution at Texas Tech.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,500 |
| 25th percentile | $7,000 |
| 75th percentile | $26,000 |
| 90th percentile (highest-debt students) | $34,500 |
The figures below break down median federal debt by income tier, first-generation status, and dependency.
Median Debt by Income Bracket
| Income tier | Median federal debt |
|---|---|
| Low income | $17,500 |
| Middle income | $16,000 |
| High income | $14,000 |
First-Gen vs Continuing-Gen Median Debt
| Cohort | Median federal debt |
|---|---|
| First-generation students | $16,000 |
| Continuing-generation students | $14,380 |
Dependent vs Independent Students
| Cohort | Median federal debt |
|---|---|
| Dependent students | $15,000 |
| Independent students | $18,750 |
These indicators are derived from the underlying debt data and summarize the overall picture at Texas Tech.
The Stafford program is the federal direct-loan vehicle most undergraduates use. Below is the annual Stafford program activity at Texas Tech:
| Metric | Value |
|---|---|
| Stafford loan recipients | 88500 |
| Total Stafford loan amount | $2,002,776,861 |
Veterans and active-duty service members may qualify for the Post-9/11 GI Bill or DoD Tuition Assistance.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 700 |
| Total GI Bill amount | $6,492,716 |
| Average GI Bill amount per recipient | $9,275 |
Active-duty Tuition Assistance recipients
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 60 |
| Total DoD amount | $172,410 |
| Average DoD amount per recipient | $2,874 |
References
More about our data sources and methodologies.