Illinois Institute of Technology's published cost of attendance reaches $67,720 per year, including $51,763 in tuition, $16,528 for room and board, and $1,200 for books and supplies. However, the average student pays significantly less after financial aid application.
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Net prices are averages and may vary. Based on federal data for first-time, full-time students receiving aid.
| Cost Category | Amount |
|---|---|
| Total Cost of Attendance (Sticker Price) | $67,720 |
| Tuition and Fees | $51,763 |
| Room and Board | $16,528 |
| Books and Supplies | $1,200 |
| Average Financial Aid (Grants and Scholarships) | -$48,367 |
| Average Net Price (What Families Pay) | $19,353 |
| Family Income | Net Price |
|---|---|
| $0–30k | $13,222 |
| $30–48k | $15,488 |
| $48–75k | $16,566 |
| $75–110k | $22,765 |
| $110k+ | $31,456 |
Illinois Institute of Technology's published cost of attendance reaches $67,720 per year, including $51,763 in tuition, $16,528 for room and board, and $1,200 for books and supplies. However, the average student pays significantly less after financial aid application. The average net price stands at $19,353 after accounting for grants and scholarships, representing financial aid savings of $48,367 from the sticker price.
This 71% reduction from published costs demonstrates substantial institutional commitment to affordability through need-based and merit aid programs. Compared to peer institutions with a median net price of $27,143, Illinois Institute of Technology charges $7,790 less annually, positioning it favorably within the private nonprofit landscape. The net price varies considerably by family income, ranging from $13,222 for families earning under $30,000 to $31,456 for families earning over $110,000.
How much students borrow and whether debt is manageable given outcomes.
Debt is well below typical first-year earnings — generally considered very manageable.
Illinois Institute of Technology graduates carry median debt of $25,000, remaining close to the peer median of $24,181 and resulting in manageable borrowing levels. Debt ranges from $11,215 at the 25th percentile to $31,000 at the 75th percentile, indicating controlled borrowing across the student population.
The debt-to-earnings ratio of 0.30 reflects favorable loan sustainability, with annual debt payments representing approximately 30% of first-year post-graduation earnings. This ratio indicates strong affordability when considered against median earnings of $82,592.
Parent PLUS borrowing averages $30,000 with monthly payments of $395, representing additional family debt beyond student borrowing. The controlled debt levels, combined with strong earnings outcomes, create favorable conditions for loan repayment and long-term financial stability.
How cost compares to graduate earnings and value added.
Illinois Institute of Technology delivers exceptional return on educational investment through strong earnings outcomes achieved with controlled debt levels. Graduates earn $16,217 beyond expectations relative to similar student populations, ranking at the 92.0th percentile nationally and achieving top-tier performance on this measure.
Median earnings of $82,592 rank at the 94.0th percentile nationally, while median debt of $25,000 remains near peer averages, creating favorable debt-to-earnings ratios. The combination of above-peer earnings ($19,526 higher than peer median) with below-peer net costs ($7,790 lower than peer median) generates strong value proposition for technical career preparation.
Return on investment ranks at the 96.5th percentile with top-tier performance, reflecting the institution's effectiveness in translating educational investment into career outcomes. Low-income graduates earning $93,800 rank among the top 5% nationally, demonstrating mobility potential for students from all economic backgrounds.
Illinois Institute of Technology demonstrates strong commitment to financial accessibility through comprehensive aid programs. With 29.1% Pell-eligible enrollment, the institution serves a substantial population of lower-income students while maintaining financial sustainability.
The $48,367 average financial aid savings represents 71% coverage of published costs, indicating robust institutional aid programs supplementing federal and state assistance. Aid concentration toward lower-income families, evidenced by the progressive net price structure, ensures accessibility for students with the greatest financial need.
The net price positioning $7,790 below peer institutions suggests competitive aid packaging that attracts academically qualified students across income levels. This aid profile supports the institution's role in providing technical education pathways for first-generation and lower-income students pursuing engineering and computer science careers.
