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.
The amount of financial assistance and scholarships or grants you can get varies based on your circumstances. Keep reading to learn more to help you to know just how much aid and scholarships to expect from BFIT.
$12,602.00 is the typical Benjamin Franklin Institute of Technology’s first year financial aid package. Approximately 99% of incoming freshmen obtain financial assistance, with the majority being offered as grants and scholarships.
Student loans come included in financial aid packages, however, the only true discount off of the price of college is a grant or scholarship that you do not need to pay back.
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 Benjamin Franklin Institute of Technology.
Colleges and universities offer institutional scholarships and grants as financial assistance to help students cover tuition fees and other educational costs. These awards, which do not require repayment, can be merit-based or need-based. Merit-based institutional scholarships recognize students who have exceptional academic records, special talents, or skills in particular areas. Eligibility for these scholarships often depends on factors such as a student’s high school performance, standardized test scores, or involvement in extracurricular activities. In contrast, need-based institutional grants are designed for students who show financial need. The amount awarded usually depends on the student’s family’s financial condition and aims.
The next numbers refer to grants and scholarships mainly supplied by the college itself.
99% of new students (191 total) were given scholarships at Benjamin Franklin Institute of Technology, averaging $8,126.00 per student. This puts it in the top 50th percentile among colleges and universities nationwide.
As well as scholarships, 72% of freshmen (138 total) received a federal grant, for about $5,101.00 a person.
The next table shows grant and scholarship distributions by income for first-year students getting any form of federally-funded Title IV aid, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 52.60% | $14,996.00 |
| Income 30k-48k | 12.50% | $11,233.00 |
| Income 48k-75k | 9.90% | $12,607.00 |
| Income 75k-110k | 7.29% | $7,421.00 |
| Income 110k + | 3.65% | $6,260.00 |
The table above shows undergrads who are getting Title IV aid, which is federal assistance from the government in the form of grants, loans, and work-study. Learn more here.
191 BFIT undergrads obtain grant aid (this is about 99% of the entire undergraduate student population). The average amount these students receive is $12,602.00.
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.