Rensselaer Polytechnic Institute (RPI) Financial Aid and Scholarships
Students Receiving Aid
86%
Total Aid Amount
$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%.
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