Financial Aid at MTU
Financial Aid Amount Received
$15,095 (35.03% of tuition)
Percent of Financial Aid Received
91% of 5,699 students
5,167 undergraduate students (91% of all students) have received grants, scholarships, and/or federal student loans at Michigan Technological University. The percentage of students who received financial aid much higher compared to Public, 4-Years Colleges in Michigan.
Compared to similar schools in rankings such as Mississippi State University and Illinois State University, the percentage of students who received financial aid is much higher (the average of the schools is 74.70%).
Undergraduate Financial Aid by Type
The average amount of grants of scholarship aid is $15,095 and the average loan amount is $6,077. The average financial aid amount is 35.03% of tuition & fees based on out-of-state rate (tuition & fees: $43,089).
| Number Receiving Aid | Percent Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received | |
|---|---|---|---|---|
| Grant or scholarship aid | 5,167 | 91% | $77,994,575 | $15,095 |
| Pell Grants | 1,039 | 18% | $5,322,951 | $5,123 |
| Federal Students Loans | 2,604 | 46% | $15,824,551 | $6,077 |
Undergraduate Student Financial Aid Comparison Chart
First-time (full-time) Undergraduate Students Financial Aid
For the full-time, first-time undergraduate students (freshmen, in most cases), 1,343 students have received one or more types of financial aid at Michigan Technological University.
The average amount of federal, state, local or institutional grant aid is $16,889 and the average amount of student loans awarded to full-time first-time undergraduate students is $8,896.
The following table shows the financial data by type of aid at Michigan Technological University.
First-time Undergraduate Financial Aid by Type
| Number Receiving Aid | Percent Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received | |
|---|---|---|---|---|
| Any Financial Aid | 1,358 | 98% | - | - |
| Grant or scholarship aid | 1,343 | 97% | $22,681,577 | $16,889 |
| Federal Grants | 289 | 21% | $1,624,670 | $5,622 |
| Pell Grants | 279 | 20% | $1,437,317 | $5,152 |
| Other Federal Grants | 271 | 20% | $187,353 | $691 |
| State/Local Grants | 256 | 19% | $2,141,855 | $8,367 |
| Institutional Grants | 1,339 | 97% | $18,915,052 | $14,126 |
| Student Loans | 690 | 50% | $6,137,917 | $8,896 |
| Federal Student Loans | 680 | 49% | $3,505,700 | $5,155 |
| Other Student Loans | 167 | 12% | $2,632,217 | $15,762 |
Financial Aid by Income Level
The following table summarizes the number of schools receiving financial aid and its average amount by income levels at Michigan Technological University.
| Income Level | # of Students | # of Students Receiving Aid | Total Amount of Aid Received | Average Amount of Aid Received |
|---|---|---|---|---|
| All Income Level | - | - | $10,311,238 | $16,821 |
| 0 - $30,000 | 97 | 97 | $2,670,317 | $27,529 |
| $30,001 - $48,000 | 61 | 61 | $1,572,425 | $25,777 |
| $48,001 - $75,000 | 91 | 91 | $2,033,642 | $22,348 |
| $75,001 - $110,000 | 129 | 129 | $2,106,365 | $16,328 |
| $110,001 - more | 235 | 226 | $1,928,489 | $8,206 |
Paid Tuition Rates by Residency
At Michigan Technological University, for the first-time/full-time students, 1,044 students have paid in-state rate of tuition and 337 students have paid out-of-state tuition rate.
| # of Students | |
|---|---|
| In-District Rate | 0 |
| In-State Rate | 1,044 |
| Out-of-State Rate | 337 |
| Un-known | 0 |
Number of Students by Living Arrangement (Freshmen)
At Michigan Technological University, 956 full-time/first-time students live on-campus such as dormitory and campus-owned apartments, and 0 students live off-campus. In addition, 65 students live with their family.
| # of Students | |
|---|---|
| Living On-Campus | 956 |
| Living Off-Campus | 0 |
| Living with Family | 65 |
| Un-known | 0 |