$6,385

Avg. Federal Grant

$5,957

Avg. Federal Loan

$167,865,218

Total Aid Awarded

Rensselaer Polytechnic Institute (RPI) Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

86%

Total Aid Amount Average Total Aid Awarded per year.

$167.865M

Financial Aid Official Website

www.rpi.edu/dept/admissions/aid/index.html

As many as 84% of the students at RPI get some sort of financial aid, and the total amount of assistance/loans provided is more than $20,157,421 in a year. Notably, a total of 17% of the applicants to Rensselaer Polytechnic Institute receive the Federal Grant every year. In comparison, 84% of the students are awarded the Student Grant, 84% get the Institution Grant, and 17% of the applicants receive the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $5,968, while the same comes to $3,123 for State Grant receivers and $29,339 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $4,685. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 Rensselaer Polytechnic Institute, the percentage of candidates who opt to avail of student loans is around 48%.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

15%

State Grant Aid

14%

Institution Grant Aid

82%

Pell Grant

15%

Average Aid Awarded

Federal Grant Aid

$6,385

State Grant Aid

$2,822

Institution Grant Aid

$29,196

Pell Grant

$4,856

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$48,873

$30,001 - $48,000

$49,401

$48,001 - $75,000

$41,311

$75,001 - $110,000

$36,142

Over $110,000

$25,579

Student Loans for Rensselaer Polytechnic Institute (RPI)

Average Loan Amount Average Loan Amount received per year.

$10,358/Year

Students Taking Out Loans

53%

Loan Default Rate

1.2%

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