In 2022, tuition for full-time Lake Area Technical Institute students was $3,720 a year for in-state students and $3,720 a year for out-of-state students.
On average, college tuition rises about 3% year.
If this makes attending the college of your dreams sound impossible, remember, the advertized cost of tuition doesn't tell the full story. Many students find the actual cost of college is a lot less than the sticker price after grants, scholarships, and tuition discounts are awarded. And, student loans can make the amount you do have to pay out of pocket more manageable until after graduation.
Lake Area Technical Institute is a public, state institution, so it offers a reduced tuition rate of $3,720 for in-state students who attend full-time.
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 residency can cut the cost of college tuition. Take the time to verify 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 other criteria as well, depending on the state you and your parents currently reside in.
Explore other South Dakota colleges
Lake Area Tech 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 may be eligible for private or school-specific grants, scholarships, and other funding opportunities..
In addition to the cost of tuition, room and board, books, transportation and fees are also costs it consider when estimating the cost of attendance for college. Let's take a look at what impacts these costs, and what to expect at Lake Area Tech.
Lake Area Tech doesn't offer on-campus housing for students, so there is no cost for housing, however students should consider other housing costs when evaluating the cost of various schools
Board costs vary based on on the numnber of meals you intend to eat on-campus
The cost of books often surprises first-year college students. The real cost of books and supplies depends on the courses you take and the textbooks, computer programs, or other materials are required.. To save money, many students choose to use books from the library or buy used textbooks and materials.
The majority of colleges also have fees to help cover the cost of facilties, like the computer labs and libraries, athletic facilities, and more.
There may be other costs associated with participating in special activities, like Greek Life, or playing on an intramural sports team. Many schools offer resources for students with demonstrated need to find ways to lower or eliminate these fees.
The total cost of getting around in college depends on a few key factors. Will you take a subway, car or an airplane to get to school? Is on-campus parking free, or will you need to budget for parking? Is the campus walkable? Do you own a car, or will you need to use public transportation? All of these questions can make a big difference in your transportation budget. Keeping in mind, first-year students are allowed to park a car on campus.
The location of a college or university can also have a big effect on transportation costs. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand getting around in an urban area is usually pricey, but cities may offer more trains, busses or affordable flights to actually get to school. The Lake Area Technical Institute campus is located in a small town setting in South Dakota.
When you're planning for college, be sure to factor in personal expenses, like going out to eat or see shows, furnishing your living space, and things like haircuts, clothes and, yes, even toilet paper and shampoo.
Now, let’s look at the breakdown of all expenses, to get a better estimate of what is really costs to go to Lake Area Tech.
What will the cost of attending Lake Area Tech be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
Tuition and fees may vary depending on program, course level, location, and more.
In 2022, 893 of the 2,190 undergrads enrolled received financial aid. Lake Area Tech meets 53.16% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $9,254 a year.
|Most Common Loans for Lake Area Tech 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 Lake Area Tech 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, Lake Area Tech awarded 767 need-based scholarships to students, giving away total of $5.3 million to help students with financial need cover the cost of school. An additional $1.66 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 Lake Area Tech 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 Lake Area Tech was $9,254 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Lake Area Tech seem more manageable.
|Estimated Net Cost for Full-Time Students|
|Net In-state, Off-campus||$-5,534|
Note: a negative number can indicate that a refund will be given to use toward other expenses such as housing, fees, and books. In such cases, be sure to reach out to the school directly for any clarification or questions.
What will attending Lake Area Tech 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 Lake Area Tech'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.
Students cannot pay tuition in installments. Contact the financial aid office to verify this and discuss options.
Schools sometimes offer tuition waivers to certain groups, to offset the cost of attending. Some colleges offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even with a tuition waiver, students are usually responsible for housing, meal plans, and other expenses.
Check the financial aid website for more information on payment plans and tuition waivers.
Click below to find out more about the admissions requirements and deadlines, student life, academics, majors and more.
Visit the College Confidential forums to join the conversation about Lake Area Tech
Tuition & Fees
Students Who Receive Need-Based Aid
Average Financial Aid Package
Data Source: IPEDs and Peterson's Databases © 2022 Peterson's LLC All rights reserved
Tuition and Fees
Claim your page to customize your profile and connect with students!
Want to find money for school that doesn’t need to be paid back? Access insights and advice on how to search and apply for scholarships!
Connect with the world's largest college forum for candid, authentic discussion.