$5,316

Avg. Federal Grant

$5,148

Avg. Federal Loan

$66,195,245

Total Aid Awarded

New Jersey Institute of Technology (NJIT) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

60%

Total Aid Amount Average Total Aid Awarded per year.

$66.195M

Financial Aid Official Website

www.njit.edu/financialaid/

In order to make the University courses a bit more affordable, the University offers an option of scholarships, grants, and student loans. The amount of financial aid provided by the University depends on the income profile of the students which in turn affects the Net Price payable.

  •  The students who are opting for any sort of financial aid must fill the federal school code (FAFSA code) which is 002621.

  •  One must provide residency proof and family income proof before applying for financial assistance.

  • The average institutional aid received per year sums up to $10,962 that is benefited 67% of the net student population.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

34%

State Grant Aid

33%

Institution Grant Aid

67%

Pell Grant

34%

Average Aid Awarded

Federal Grant Aid

$5,316

State Grant Aid

$9,102

Institution Grant Aid

$10,962

Pell Grant

$5,071

The financial aid in NJIT is awarded on the following manners:

  • Federal Aid includes FSEOG, Pell Grant, Federal Work-Study, Direct Subsidized Loans, Direct Unsubsidised Loans, Direct Plus Loans.

  • State Aid is provided via scholarships and grants, it includes Tuition Aid Grants, Educational Opportunity Funds, Law Enforcement Officer Memorial Scholarship New Jersey World Trade Center Scholarship, and Governor's Urban Scholarship,.

  • Institution Aid consists of Highlander Student Emergency Fund Application, Institutional Work-Study (IWS), National Merit Scholarship, Faculty Scholarship, Dean Scholarship, Harold B. and Dorothy A. Snyder Foundation Scholarship, and PS&S Annual Scholarship.

  • Military Aid includes Post-9/11 GI Bill, Afghanistan & Iraq War Veterans Scholarships, Tuition Assistance Program, Montgomery GI Bill, Reserve Educational Assistance Programme (REAP), Survivors and Dependents Assistance (DEA).

Now let’s look at the number of students availing this financial assistance are:

  • An estimated 34% of the students undergoing any University Major program avails a Federal Grant Aid worth $5,316.

  • 34% of students are benefited by the Pell Grants worth $ 5,071.

  • The State Grant Aid provides assistance of $9,102 to 33% of the student population.

  • 67% of the students avail Institutional Grant Aid worth 10,962.

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$18,268

$30,001 - $48,000

$15,952

$48,001 - $75,000

$10,589

$75,001 - $110,000

$6,153

Over $110,000

$4,643

The Federal-Aid provided by the University depends on the Net Family income:

  • For income range $0 to $30,000, the average Federal Aid issued $18,268.

  • For $30,001 to $48,000, the net assistance given becomes around $15,952.

  • Income ranges from $48,001 to $75,000, the aid amount becomes $10,589.

  • For more than $75,001 to $110,000, the average Federal Aid is $ 6,153.

  • For income more than the above range, the payable net price would be $4,643. 

Student Loans for New Jersey Institute of Technology (NJIT)

Average Loan Amount Average Loan Amount received per year.

$8,273/Year

Students Taking Out Loans

44%

Loan Default Rate

4.8%

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