$2,452

Avg. Federal Grant

$4,181

Avg. Federal Loan

$232,675

Total Aid Awarded

Spa Tech Institute Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

53%

Total Aid Amount Average Total Aid Awarded per year.

$232.675K

Financial Aid Official Website

N/A

It is interesting to note that, every year, around 78% of students at STIW receive some kind of financial aid, while the total amount of assistance/loans provided is $512,737. Notably, a total of 61% of the applicants to Spa Tech Institute-Westboro receive the Federal Grant every year. Meanwhile, 61% of the applicants receive the Student Grant and 61% are awarded the Institution Grant, while 61% of the students get the Pell Grant. On the other hand, the average aid received by the Pell Grant awardees is $2,615. 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. Apart from financial grants and scholarships, candidates can also avail of monetary benefits like student loans to fund their education. But, they should understand that student loans are borrowed at a certain rate of interest, unlike grants and scholarships. While grants and scholarship schemes do not require repayment, student loans should be repaid by the applicants within a given period. At STIW, an estimated number of 71% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

71%

State Grant Aid

4%

Institution Grant Aid

64%

Pell Grant

71%

Average Aid Awarded

Federal Grant Aid

$2,452

State Grant Aid

$3,500

Institution Grant Aid

$100

Pell Grant

$2,362

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$1,768

$30,001 - $48,000

$820

$48,001 - $75,000

$2,478

$75,001 - $110,000

N/A

Over $110,000

N/A

Student Loans for Spa Tech Institute

Average Loan Amount Average Loan Amount received per year.

$4,848/Year

Students Taking Out Loans

86%

Loan Default Rate

N/A

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