Scholarships, Grants, and Loan Trends at FIT

Over the past 10 years (2013-2022), the average number of students who received grants aid/scholarships is 3,980, which is 45.78 % of all undergraduate students. 2,918 students which is 33.11% of undergraduate students received federal student loans and the average loan amount is $6,742.
For full-time, first-time beginning students (freshmen), 49.22% of students received grants or scholarships and 40% of students received student loans.

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Fashion Institute of Technology since 2013.
For that period, the average number of students who received grants aid/scholarships is 3,980, which is 45.78 % of all undergraduate students. 2,918 students which is 33.11% of undergraduate students received federal student loans and the average loan amount is $6,742.
YearGrant or Scholarship*Pell GrantsFederal Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average AmountNumber Received (percent**)Average Amount
2013-143,691 (39%)$5,4622,445 (26%)$4,3913,357 (35%)$7,086
2014-153,875 (41%)$5,7362,515 (26%)$4,4473,358 (35%)$6,910
2015-163,798 (40%)$5,7432,479 (26%)$4,4563,249 (35%)$6,789
2016-173,807 (42%)$5,7922,389 (26%)$4,4753,097 (34%)$6,915
2017-183,949 (46%)$6,2312,503 (29%)$4,6442,995 (35%)$6,745
2018-193,993 (47%)$6,6422,607 (30%)$4,8112,868 (34%)$6,574
2019-204,242 (50%)$7,4732,653 (31%)$4,9702,748 (32%)$6,505
2020-213,980 (50%)$7,6052,495 (31%)$5,0512,209 (28%)$6,568
2021-224,485 (57%)$7,9622,512 (32%)$5,0172,383 (30%)$6,587
Average3,980 (45.78%)$6,5162,511 (28.56%)$4,6962,918 (33.11%)$6,742

Freshmen (First-time, Full-time Undergraduate) Financial Aid Over Time

For the last 10 years, on average, 629 (49.22 % of students) received grants or scholarships and its average amount is $6,706. It can cover 29.71% of tuition & fees ($22,572) based on out-of-state rate.
In addition, 504 (39.56 % of students) students get helped from the students loans (average amount : $8,028).
Year Grants or Scholarships*Student Loans
Number Received (percent**)Average AmountNumber Received (percent**)Average Amount
2013-14615 (48%)$5,407575 (45%)$7,999
2014-15638 (49%)$5,458582 (45%)$7,430
2015-16555 (45%)$5,307533 (43%)$8,300
2016-17581 (47%)$5,480523 (42%)$7,843
2017-18577 (46%)$6,555501 (40%)$7,872
2018-19645 (49%)$6,858516 (39%)$8,420
2019-20719 (52%)$8,510511 (37%)$8,597
2020-21663 (53%)$8,521359 (29%)$7,077
2021-22666 (54%)$8,260439 (36%)$8,716
Average629 (49.22%)$6,706504 (39.56%)$8,028
*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.
**percentage of number of students receiving aids among all undergraduate students.
The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 432 (33.89 % of students) received Pell (federal) grants and its average amount is $4,919.
In addition, 444 students received State/local government grants/scholarships (34.67 % of students).
Year Federal (Pell) GrantsOther Federal State/Local governmentInstitutional
Number Received (percent)Average AmountNumber Received (percent)Average Amount Number Received (percent)Average AmountNumber Received (percent)Average Amount
2013-14423 (33%)$4,63079 (6%)$735451 (35%)$2,653182 (14%)$615
2014-15425 (33%)$4,77394 (7%)$788473 (36%)$2,660172 (13%)$707
2015-16382 (31%)$4,65996 (8%)$784390 (31%)$2,443195 (16%)$706
2016-17406 (33%)$4,60184 (7%)$805427 (34%)$2,596188 (15%)$743
2017-18411 (33%)$4,686107 (9%)$808423 (34%)$3,691218 (17%)$957
2018-19487 (37%)$5,123103 (8%)$817460 (35%)$3,593219 (17%)$875
2019-20485 (35%)$5,191528 (38%)$1,677499 (36%)$3,789375 (27%)$2,200
2020-21452 (36%)$5,312437 (35%)$1,624487 (39%)$3,600358 (29%)$2,195
2021-22421 (34%)$5,300583 (47%)$2,953389 (32%)$3,561164 (13%)$997
Average432 (33.89%)$4,919235 (18.33%)$1,221444 (34.67%)$3,176230 (17.89%)$1,111
*Grant or scholarship aid includes aid received, from the federal government, state or local government, the institution, and other sources known by the institution.
**percentage of number of students receiving aids among all undergraduate students..
The following table describes number of students and average amount of loans by loan type. The following table shows the trends of grants or scholarships over time.
For the last 10 years, on average, 504 (39.56 % of students) get any students loan help and its average loan amount is $504.
YearTotalFederal student loansOther student loans
Number Received (percent)Average AmountNumber Received (percent)Average AmountNumber Received (percent)Average Amount
2013-14575 (45%)$7,999558 (44%)$5,75096 (8%)$14,491
2014-15582 (45%)$7,430573 (44%)$5,88065 (5%)$14,690
2015-16533 (43%)$8,300528 (43%)$5,75194 (8%)$14,756
2016-17523 (42%)$7,843517 (41%)$5,67179 (6%)$14,810
2017-18501 (40%)$7,872497 (40%)$5,25788 (7%)$15,128
2018-19516 (39%)$8,420510 (38%)$5,39195 (7%)$16,793
2019-20511 (37%)$8,597507 (37%)$5,45493 (7%)$17,505
2020-21359 (29%)$7,077357 (29%)$5,26845 (4%)$14,663
2021-22439 (36%)$8,716433 (35%)$5,32372 (6%)$21,129
Average504 (39.56%)$8,028498 (39.00%)$5,52781 (6.44%)$15,996
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