How MTU's Financial Aid Changes

All Undergraduate Students Financial Aid Over Time

The following table and chart show the trends of financial aid for all undergraduate students at Michigan Technological University since 2013.

For that period, the average number of students who received grants aid/scholarships is 5,193, which is 90.56 % of all undergraduate students. 3,119 students which is 54.44% of undergraduate students received federal student loans and the average loan amount is $6,383.

Year	Grant or Scholarship^*		Pell Grants		Federal Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	4,843 (86%)	$10,316	1,437 (26%)	$4,482	3,306 (59%)	$6,664
2014-15	4,867 (86%)	$10,356	1,426 (25%)	$4,455	3,258 (58%)	$6,736
2015-16	4,949 (87%)	$10,917	1,401 (25%)	$4,490	3,239 (57%)	$6,559
2016-17	5,086 (88%)	$11,351	1,348 (23%)	$4,491	3,327 (57%)	$6,549
2017-18	5,241 (89%)	$11,548	1,491 (25%)	$4,539	3,313 (56%)	$6,575
2018-19	5,112 (88%)	$12,107	1,341 (23%)	$4,772	3,115 (54%)	$6,100
2019-20	5,385 (94%)	$12,190	1,252 (22%)	$4,858	2,988 (52%)	$6,132
2020-21	5,484 (97%)	$12,385	1,139 (20%)	$5,000	2,827 (50%)	$6,100
2021-22	5,774 (100%)	$13,579	1,111 (19%)	$5,009	2,696 (47%)	$6,030
Average	5,193 (90.56%)	$11,639	1,327 (23.11%)	$4,677	3,119 (54.44%)	$6,383

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

Overview

For the last 10 years, on average, 1,243 (96.11 % of students) received grants or scholarships and its average amount is $12,879. It can cover 29.89% of tuition & fees ($43,089) based on out-of-state rate.

In addition, 748 (58.00 % of students) students get helped from the students loans (average amount : $7,950).

Year	Grants or Scholarships^*		Student Loans
Year	Number Received (percent^**)	Average Amount	Number Received (percent^**)	Average Amount
2013-14	1,198 (96%)	$11,093	827 (66%)	$7,317
2014-15	1,148 (96%)	$11,063	753 (63%)	$7,493
2015-16	1,199 (94%)	$11,772	771 (60%)	$7,682
2016-17	1,286 (93%)	$11,959	827 (60%)	$7,919
2017-18	1,243 (94%)	$12,314	754 (57%)	$7,726
2018-19	1,169 (94%)	$13,044	719 (58%)	$8,419
2019-20	1,283 (99%)	$13,946	703 (54%)	$7,892
2020-21	1,190 (99%)	$14,609	631 (53%)	$8,732
2021-22	1,475 (100%)	$16,114	748 (51%)	$8,372
Average	1,243 (96.11%)	$12,879	748 (58.00%)	$7,950

^*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.

Grants/Scholarship

The following table shows the trends of grants or scholarships over time. For the last 10 years, on average, 289 (22.33 % of students) received Pell (federal) grants and its average amount is $4,614.

In addition, 313 students received State/local government grants/scholarships (24.22 % of students).

Year	Federal (Pell) Grants		Other Federal		State/Local government		Institutional
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	317 (25%)	$4,330	316 (25%)	$797	388 (31%)	$3,298	1,181 (94%)	$8,794
2014-15	289 (24%)	$4,471	288 (24%)	$529	327 (27%)	$3,730	1,127 (94%)	$8,905
2015-16	335 (26%)	$4,534	320 (25%)	$532	295 (23%)	$4,993	1,172 (92%)	$9,346
2016-17	292 (21%)	$4,519	297 (22%)	$951	358 (26%)	$5,017	1,274 (92%)	$9,405
2017-18	317 (24%)	$4,473	323 (25%)	$1,088	329 (25%)	$4,625	1,216 (92%)	$9,880
2018-19	266 (21%)	$4,690	282 (23%)	$1,691	280 (22%)	$4,648	1,159 (93%)	$10,546
2019-20	274 (21%)	$4,628	1,167 (90%)	$681	303 (23%)	$5,491	1,231 (95%)	$11,508
2020-21	251 (21%)	$4,886	1,132 (95%)	$723	286 (24%)	$7,025	1,127 (94%)	$11,829
2021-22	259 (18%)	$4,992	1,475 (100%)	$1,089	250 (17%)	$7,562	1,427 (97%)	$13,299
Average	289 (22.33%)	$4,614	622 (47.67%)	$898	313 (24.22%)	$5,154	1,213 (93.67%)	$10,390

^*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..

Student Loans

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, 748 (58.00 % of students) get any students loan help and its average loan amount is $748.

Year	Total		Federal student loans		Other student loans
Year	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount	Number Received (percent)	Average Amount
2013-14	827 (66%)	$7,317	816 (65%)	$5,327	154 (12%)	$11,064
2014-15	753 (63%)	$7,493	743 (62%)	$5,453	144 (12%)	$11,043
2015-16	771 (60%)	$7,682	761 (60%)	$5,185	163 (13%)	$12,128
2016-17	827 (60%)	$7,919	808 (59%)	$5,258	181 (13%)	$12,710
2017-18	754 (57%)	$7,726	735 (56%)	$5,185	165 (13%)	$12,210
2018-19	719 (58%)	$8,419	696 (56%)	$5,113	183 (15%)	$13,628
2019-20	703 (54%)	$7,892	682 (53%)	$5,069	177 (14%)	$11,814
2020-21	631 (53%)	$8,732	615 (51%)	$5,073	167 (14%)	$14,311
2021-22	748 (51%)	$8,372	728 (49%)	$5,162	179 (12%)	$13,993
Average	748 (58.00%)	$7,950	732 (56.78%)	$5,203	168 (13.11%)	$12,545

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Scholarships, Grants, and Loan Trends at MTU

All Undergraduate Students Financial Aid Over Time

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