by our College Data Analytics TeamMany students attending Illinois Institute of Technology can expect to receive financial assistance in various forms, such as scholarships, grants, loans, and work-study programs, making the cost of attendance more manageable.
What financial aid options does Illinois Tech offer, and what will you qualify for? Keep scrolling for answers.
Illinois Institute of Technology average financial aid offer for freshmen students is $37,280.00. A significant 100% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Financial aid contains loans, grants, and scholarships. But college loans need to be repaid, thus they are not a real college discount.
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 Illinois Institute of Technology.
Financial awards given by a college or university to its students, known as institutional scholarships and grants, help to offset the cost of tuition and other education-related expenses. These awards fall into two categories: merit-based and need-based, and they do not need to be paid back. Merit-based institutional scholarships are granted to students who have shown outstanding academic accomplishments, special talents, or abilities in a particular field. Factors such as high school performance, standardized test results, or involvement in extracurricular activities often contribute to these scholarship decisions. Conversely, need-based institutional grants cater to students who demonstrate financial need. The awarded amount is typically based on the student’s family’s financial standing and is intended to cover the difference between the cost of attendance and the family’s ability to contribute. Colleges and universities might use data from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms to determine a student’s eligibility for need-based grants. Institutional scholarships and grants are a vital source of financial support for students, as they can significantly reduce the cost of attending college and help make higher education more accessible.
The numbers listed below make reference to help that is offered by Illinois Institute of Technology.
100% of incoming freshmen (583 total) were awarded scholarships at Illinois Institute of Technology, averaging $34,074.00 a piece. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 29% of freshman students (171 total) obtained federal grant aid, averaging $6,070.00 a piece.
Amount of Financial Assistance Per Income Level
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 13.55% | $46,195.00 |
| Income 30k-48k | 9.78% | $43,609.00 |
| Income 48k-75k | 8.75% | $42,371.00 |
| Income 75k-110k | 14.41% | $40,037.00 |
| Income 110k + | 16.12% | $34,927.00 |
The table above displays undergrads who are getting Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
100% of the 583 undergraduates at Illinois Institute of Technology receive some sort of grant aid. This is a total of about 583 students getting an average of $37,280.00 per person.
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.