Worcester Polytechnic Institute (WPI) Financial Aid and Scholarships
Students Receiving Aid
93%
Total Aid Amount
$85.012M
Financial Aid Official Website
https://www.wpi.edu/admissions/tuition-aid
Such schemes include Academic Scholarship, Air Force ROTC, Army ROTC Scholarship, and Carnegie Dartlet $10,000 Scholarship. It is interesting to note that, every year, around 99% of students at WPI receive some kind of financial aid, while the total amount of assistance/loans provided is $15,888,521. One can visit WPI's financial aid page at https://www.wpi.edu/admissions/tuition-aid for more information. Notably, a total of 12% of the applicants to Worcester Polytechnic Institute receive the Federal Grant every year. On the other hand, 99% of the candidates get the Student Grant, 99% receive the Institution Grant, and 12% get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $6,394, while the same comes to $1,141 for State Grant receivers and $24,005 for Institution Grant awardees. On the other hand, the average aid received by the Pell Grant awardees is $4,553. The annual family income of a candidate is one of the key factors in determining their total eligibility for financial aid. Those with a family income below $30,000 per annum, would get an average federal aid of $33,040 in a year. The average aid amount stands at $34,607 for an annual family income between $30,001 and $48,000. This amount comes to $29,029 for those who fall under the $48,001-$75,000 family income bracket. Those with an annual income level of $75,001-$110,000 would receive $22,795, while candidates with more than $110,000 of family income receive an average federal aid of $18,098. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for 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 Worcester Polytechnic Institute, the percentage of candidates who opt to avail of student loans is around 60%.
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