$4,777

Avg. Federal Grant

$5,043

Avg. Federal Loan

$24,106,807

Total Aid Awarded

Indiana Institute of Technology Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

78%

Total Aid Amount Average Total Aid Awarded per year.

$24.107M

Financial Aid Official Website

finaid.indianatech.edu/

Among them are scholarship programs such as Alice Ann Garner Scholarship, Amy L. McKee-Everett Memorial Scholarship, Birds Eye Foods (Brooks Foods) Scholarship, and Blackford Agriculture Scholarship. It is interesting to note that, every year, around 99% of students at IIT receive some kind of financial aid, while the total amount of assistance/loans provided is $8,383,285. One can visit IIT's financial aid page at http://finaid.indianatech.edu for more information. At IIT, the total percentage of applicants who receive the Federal Grant stands at 52%. In comparison, 99% of the students are awarded the Student Grant, 99% get the Institution Grant, and 51% of the applicants receive the Pell Grant. While the Federal Grant awardees receive an average aid of $4,771, the State Grant receivers and Institution Grant beneficiaries get $6,968 and $15,265, respectively. On the other hand, the average aid received by the Pell Grant awardees is $4,520. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. However, student loans attract a certain rate of interest at which the funds are borrowed. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At IIT, an estimated number of 93% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

53%

State Grant Aid

37%

Institution Grant Aid

99%

Pell Grant

52%

Average Aid Awarded

Federal Grant Aid

$4,777

State Grant Aid

$6,867

Institution Grant Aid

$13,642

Pell Grant

$4,441

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$21,073

$30,001 - $48,000

$22,125

$48,001 - $75,000

$20,174

$75,001 - $110,000

$16,715

Over $110,000

$17,961

Student Loans for Indiana Institute of Technology

Average Loan Amount Average Loan Amount received per year.

$6,398/Year

Students Taking Out Loans

94%

Loan Default Rate

25.6%

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