$1,942

Avg. Federal Grant

$5,891

Avg. Federal Loan

$3,901,303

Total Aid Awarded

Ohio Technical College Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

74%

Total Aid Amount Average Total Aid Awarded per year.

$3.901M

Financial Aid Official Website

www.ohiotech.edu/financial_aid

Notably, 94% of the students at Ohio Technical College get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $4,874,354. More information regarding the financial assistance schemes can be accessed on OTC’s official financial aid page at http://www.cotc.edu/Admissions/Pages/Office-of-Financial-Aid.aspx. Notably, a total of 66% of the applicants to Ohio Technical College receive the Federal Grant every year. On the other hand, 94% of the candidates get the Student Grant, 56% receive the Institution Grant, and 66% get the Pell Grant. While the Federal Grant awardees receive an average aid of $5,035, the State Grant receivers and Institution Grant beneficiaries get $1,277 and $532, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,555. 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. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Candidates are also required to repay these loans within a given period. At Ohio Technical College, the percentage of candidates who opt to avail of student loans is around 82%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

79%

State Grant Aid

35%

Institution Grant Aid

20%

Pell Grant

79%

Average Aid Awarded

Federal Grant Aid

$1,942

State Grant Aid

$328

Institution Grant Aid

$2,231

Pell Grant

$1,865

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$4,000

$30,001 - $48,000

$3,689

$48,001 - $75,000

$3,751

$75,001 - $110,000

$2,864

Over $110,000

$2,367

Student Loans for Ohio Technical College

Average Loan Amount Average Loan Amount received per year.

$6,654/Year

Students Taking Out Loans

27%

Loan Default Rate

9.2%

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