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.
Curious about the financial aid opportunities at RIT and what you may be eligible for? Explore the answers here.
$24,587.00 is the typical Rochester Institute of Technology’s first year financial aid package. Financial aid is provided to about 99% of first-year students, with the bulk of support coming in the form of 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 Rochester Institute of Technology.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The numbers listed below make reference to help that is offered by Rochester Institute of Technology.
95% of incoming freshmen (2561 total) were given scholarships at Rochester Institute of Technology, averaging $21,912.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
In addition to scholarships, 69% of first years (1859 total) were awarded federal grant aid, averaging $3,102.00 each.
The next table displays grant and scholarship distributions by family income for freshman students getting any kind of federally-funded Title IV aid, such as Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 13.27% | $32,741.00 |
| Income 30k-48k | 8.05% | $32,206.00 |
| Income 48k-75k | 11.45% | $29,128.00 |
| Income 75k-110k | 11.89% | $27,594.00 |
| Income 110k + | 26.17% | $19,308.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
Of the 2682 undergraduate students at Rochester Institute of Technology around 99% (2615 total) receive some form of grant aid. The typical amount awarded was $24,587.00.
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.