Student Loans for Worcester Polytechnic Institute
Worcester Polytechnic Institute, more fondly known as WPI, is an engineering school with a long academic history and a cutting-edge curriculum. In addition to its engineering and sciences offerings, WPI stands out for its unique Robotics and Game Design program, which was the first degree program of its kind in the country. Academics aside, WPI has a very old-school New England campus perched atop a hill in the middle of Worcester, which is both pretty and will provide you with a bit of a daily workout. Additionally, WPI is a member of a consortium of 12 colleges and universities in the Worcester area, meaning there is an abundance of resources among these schools, as well as tons of college students and a vibrant social scene.
WPI Financial Aid
WPI is pricey its sticker price is over $55,000 per year. Actually paying this $55,000 annually would be extremely difficult, if not impossible, for many college students and their families, and WPI recognizes this. In order to make an education at WPI more accessible to students, the university has established a robust WPI financial aid program that provides assistance to those who demonstrate financial need.
97% of all students at WPI receive financial aid, which is a pretty comforting statistic: this means that there are aid funds available for you if you need them. Additionally, 71% of all financial need is met through the WPI financial aid program, which is a good but not great figure. What that should tell you is that though aid funds are available, they are not always comprehensive. The average aid package for a freshman is about $30,000, 68% of which comes in the form of scholarships or grants, while the remaining 32% is given to the student as loans. If your WPI financial aid package doesn’t quite cover all of your financial needs, do what 51% of students at WPI have done: take out a federal student loan. These loans are easy to come by, have lower interest rates than private loans, and have favorable borrowing terms. If for some reason, though, you use all the federal funding that you can and still need more money to pay for your WPI Education, then you can turn to private student loans.
Private Student Loans and WPI
When all your aid funding falls short of the amount of money you need to pay for college, consider taking out a private student loan. When used as a final source of funding to cover the difference between tuition costs and aid provided, private student loans can be extremely helpful. Since there are many different kinds of private loans, choosing the right one can be tough you want to make sure you are getting the lowest-cost loan that is just right for you. Well, thankfully for you, our Student Loan Comparison Tool can help you with this search. You can use it to search for and compare student loans based on a number of criteria, such as interest rate, repayment period, and total cost; once you find the loan that best suits you, you can apply for it directly, and cover the rest of your WPI tuition.
In order to apply for WPI financial aid, students need to fill out the FAFSA (Free Application for Federal Student Aid) and the CSS PROFILE application form. The student’s parent/guardian also needs to attach their federal tax returns and W-2 statements with these forms. In case of a divorce or a separation, these forms need to be filled out by the parent who is in custody of the child and the other parent needs to submit the noncustodial PROFILE form. It is important for students receiving need-based financial aid to submit their FAFSA application at the start of every academic year. Information about these forms and guidelines on how to fill them out is available on the WPI financial aid webpage.
Can international students apply for Worcester Polytechnic Institute financial aid?
Yes, international students are in fact encouraged to apply for Worcester Polytechnic Institute Financial Aid. The Worcester Polytechnic Institute Financial Aid office offers need based financial support for international students. Financial aid is specifically for freshman students who apply for admission in the fall semester. In order to be considered for financial aid, international students are required to demonstrate family contribution to the amount of $15,000 and submit their International Student Financial Aid Application along with their admission application before the appointed deadline date. Both of these applications are available on the Worcester Polytechnic Institute official website.
Pay for Worcester Polytechnic Institute*
|Total Avg. Cost||$52,440|
|Room & Board||$11,540|
|Financial Aid Information|
|Students Receiving Fin Aid||99%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$15,472|
|%Receiving Other Loans||17%|
Get into Worcester Polytechnic Institute
Contact Worcester Polytechnic Institute
*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics