$4,761

Avg. Federal Grant

$2,264

Avg. Federal Loan

$9,670,418

Total Aid Awarded

Mech-Tech College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

92%

Total Aid Amount Average Total Aid Awarded per year.

$9.670M

Financial Aid Official Website

https://www.mechtech.edu/asistencia-economica/

Notably, 96% of the students at Mech-Tech College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $1,157,397. The total percentage of candidates applying to Mech-Tech College who receive the Federal Grant is 95%. Meanwhile, 95% of the applicants receive the Student Grant, while 95% of the students get the Pell Grant. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,681. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At MTC, an estimated number of 15% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

92%

State Grant Aid

24%

Institution Grant Aid

N/A

Pell Grant

92%

Average Aid Awarded

Federal Grant Aid

$4,761

State Grant Aid

$530

Institution Grant Aid

N/A

Pell Grant

$4,604

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$5,014

$30,001 - $48,000

$4,467

$48,001 - $75,000

$2,715

$75,001 - $110,000

$2,586

Over $110,000

N/A

Student Loans for Mech-Tech College

Average Loan Amount Average Loan Amount received per year.

$2,264/Year

Students Taking Out Loans

10%

Loan Default Rate

N/A

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