by our College Data Analytics TeamMost students won’t pay the advertised price of a school. Instead, they will be provided with a financial aid plan that includes a mix of scholarships, grants, loans, and work-study. But some kinds of aid are more desirable than others, and some students will get more than others.
However, some types of financial aid are definitely more desireable than others, and some students will receive more aid than others.Find out more by scrolling down the page.
$23,536.00 is the typical Worcester Polytechnic Institute’s first year financial aid package. About 100% of first year students receive financial aid, most of which is in the form of grants and scholarships.
Financial aid helps decrease the expense, or the “sticker” price of the school. But keep in mind that the only real discounts off the cost of college are in the form of grants and scholarships.
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 Worcester Polytechnic Institute.
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 following numbers apply to scholarships and grants largely offered by the school itself.
99% of new students (1191 total) were given scholarships at Worcester Polytechnic Institute, averaging $22,887.00 per student. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 9% of first-year students (111 total) got a federal grant, for about $6,178.00 per person.
The table shows scholarship and grant allocations by income for first-year students receiving any type of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 3.00% | $37,454.00 |
| Income 30k-48k | 2.84% | $35,257.00 |
| Income 48k-75k | 4.25% | $35,234.00 |
| Income 75k-110k | 9.84% | $29,139.00 |
| Income 110k + | 38.45% | $23,210.00 |
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.
1191 WPI undergrads obtain grant aid (this is about 100% of the entire undergraduate student population). The average amount these students receive is $23,536.00.
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.