In 2022, tuition for full-time students at Stevens Institute of Technology was $56,424 a year.
In 2022, tuition increased 3%–from $54,780 the previous year. On average, college tuition rises about 3% year.
If this makes attending the college of your dreams sound impossible, remember, the total cost of tuition isn't the final cost for attending college. Many students find the actual cost of college is way less than the total tuition after grants, scholarships, and tuition discounts are awarded. Plus, student loans can make thecost of college more manageable until after graduation.
Stevens Institute of Technology is a private, nonprofit institution, so it has the same tuition for residents of New Jersey as it does for students who live in other states.
Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.
Choosing a college where you qualify for in-state tuition can cut the cost of college tuition. Take the time to confirm your state's rules for in-state residency. Every state has its own rules about what makes someone eligible for in-state tuition. The most common requirement is that students must have lived in the state for a full year before starting school. There may be additional requirements too, depending on the state you and your parents currently live in.
Stevens has the same tuition for international students as for those from out of state.
International students usually do not qualify for for federal financial aid, but should research private or Stevens-specific aid and scholarships. International students who demonstrate financial need may qualify for the following types of financial support at Stevens:
International students without financial need may be eligible for merit-based institutional scholarships.
In addition to the cost of tuition, room and board, books, transportation and fees are also costs it consider when budgeting for college. Let's take a look at what impacts these costs, and what to expect at Stevens.
Room and board at Stevens costs $17,080 a year. This includes the cost of living in dorms or other on-campus housing, plus a meal plan that allows you to eat in the school dining facilities. Students who do not live on-campus but still want to use the dining facilities can choose to be on a meal plan. The cost of a mean plan, or board-only, is $9,680.
Meal-plan costs vary based on on the numnber of meals you intend to eat on-campus
First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The real cost of books depends on the courses you take and the materials required. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
The majority of colleges also have fees to help cover the cost of facilties, like the library, gym and computer labs.
There may be additional fees associated with participating in special activities, like Greek Life, or playing on an intramural sports team. Most colleges have resources for students who may struggle to participate because of cost can get help covering these costs.
The total cost of transportation in college can really vary. Will you drive, fly, or take public transportation to school? Will you need to pay to park on-campus? Is the campus small enough that you can easily walk from class-to-class?? Do you own a car, or will you need to use busses, subways, or other modes of transportation? All of these questions can drastically impact your estimated cost of transportation. At Stevens, freshman are not allowed to park on campus.
The location of a college or university can also have a big effect on your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the flip side, transportation in a city is sometimes pricey, but there may be more buses, trains or affordable flights to actually get to school. The Stevens Institute of Technology campus is in a urban setting in New Jersey, not far from New York City.
When creating a budget for college, be sure to take into account the cost of things like entertainment, clothes, furnishings and toiletries.
Now, let’s look at the breakdown of all expenses, to get a better idea of how much students can expect to shell out for Stevens.
What will the cost of attending Stevens be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$17,080|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
|Total Estimated Costs|
The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.
Stevens’s tuition and fees change based on: •Course load for both full and part-time students
The majority of Stevens undergrads use financial aid to help pay for school. In 2022, 2,542 of the 4,064 undergrads enrolled received financial aid. Stevens meets 68.8% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $36,355 a year. Around 70.66% of Stevens undergrads take out student loans to cover any remaining costs. Stevens graduates who have student loans graduate with an average of $43,706 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for Stevens Students|
Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.
The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Stevens financial aid, keep reading, or visit their financial aid website.
Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.
In 2022, Stevens awarded 2,534 need-based scholarships to students, giving away total of $76.9 million to help students with financial need cover the cost of school. An additional $26.66 million in merit-based scholarship money was awarded to students without demonstrated financial need.
The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.
Now that we have a sense of the total estimated costs for Stevens students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.
When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.
The average amount of financial aid received by a full-time first year student with demonstrated need at Stevens was $36,355 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Stevens seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Stevens really cost you? The answer depends on several factors.
As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families get a better idea of the actual cost of attending that school, based on their financial situation. You can find the Stevens's net cost calculator on their website.
Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.
Stevens offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.
Schools sometimes offer tuition waivers to certain groups, to make attending more affordable. Some schools offer tuition waivers for employees and their family members, underrepresented students, or military students. Even if you qualify for a waiver, students are usually responsible for housing, meal plans, and other expenses.
Stevens has some full or partial tuition waivers available for: - Employees or Children of Employees
Check the financial aid website for more information on payment plans and tuition waivers.
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