$5,620

Avg. Federal Grant

$5,352

Avg. Federal Loan

$70,521,040

Total Aid Awarded

Stevens Institute of Technology Financial Aid and Scholarships

Students Receiving Aid Percent of Students Receiving Financial Aid.

94%

Total Aid Amount Average Total Aid Awarded per year.

$70.521M

Financial Aid Official Website

www.stevens.edu/finaid/

Notably, 99% of the students at Stevens Institute of Technology get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $12,347,675. One can visit SIT's financial aid page at http://www.stevens.edu/finaid/ for more information. At SIT, the total percentage of applicants who receive the Federal Grant stands at 18%. On the other hand, 99% of the candidates get the Student Grant, 98% receive the Institution Grant, and 18% get the Pell Grant. While the Federal Grant awardees receive an average aid of $6,076, the State Grant receivers and Institution Grant beneficiaries get $9,084 and $25,453, respectively. As far as the Pell Grant beneficiaries are concerned, the average aid received stands at $4,455. The annual family income of the applicants is also considered for determining the total financial assistance that they will be eligible for. On average, students with an annual family income of less than $30,000 will obtain a federal aid of $39,153 per year. Candidates who come under the $30,001-$48,000 family income bracket receive an average aid of $36,589, while those falling in the $48,001-$75,000 income category get $34,403 a year. On the other hand, the average federal aid stands at $29,896 for those with an annual family income between $75,001 and $110,000, and at $22,894 for an income more than $110,000. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 SIT, an estimated number of 62% of the applicants choose to go for student loans.

Financial Aid Breakdown

Student Receiving Aid

Federal Grant Aid

18%

State Grant Aid

15%

Institution Grant Aid

99%

Pell Grant

18%

Average Aid Awarded

Federal Grant Aid

$5,620

State Grant Aid

$8,030

Institution Grant Aid

$24,603

Pell Grant

$4,327

Federal Aid based on Family Income

Family Income

Average Federal Aid Per Year

Under $30,000

$41,494

$30,001 - $48,000

$39,365

$48,001 - $75,000

$34,797

$75,001 - $110,000

$32,752

Over $110,000

$22,424

Student Loans for Stevens Institute of Technology

Average Loan Amount Average Loan Amount received per year.

$6,819/Year

Students Taking Out Loans

67%

Loan Default Rate

0.9%

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