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#21 Best Private Colleges in New York

RIT Tuition & Cost

Rochester, New York

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How much does it cost to attend?

Sticker Price
$61,474
Costs for Rochester Institute of Technology
Fee Cost
Tuition$45,244
Books and Supplies$1,098
Other Fees$646
Room and Board $13,540
Other Expenses Budget$946

Annual Prices

The annual list price to attend Rochester Institute of Technology on a full time basis for 2018/2019 is $61,474 for all students regardless of their residency. This fee is comprised of $45,244 for tuition, $13,540 room and board, $1,098 for books and supplies and $646 for other fees. Out of state tuition for Rochester Institute of Technology is $45,244, the same as New York residents.

All price data is sourced from the 2019/2020 U.S. Department of Education National Center for Education Statistics survey.
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Net Price

Net price is indicative of what it actually costs to attend Rochester Institute of Technology when typical grants and scholarships are considered. The net price varies by family income and financial need.

Average Net Price 2018/2019
$33,744
Net Price by Income Rochester Institute of Technology
Family Income Net Price Paid
$0 to $30,000$27,095
$30,001 to $48,000$27,289
$48,001 to $75,000$28,684
$75,001 to $110,000$32,287
$110,000+$40,396

The average reported annual net price for Rochester Institute of Technology for students receiving grants or scholarship aid was $33,744 in 2018/2019. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

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Costs for Similar Colleges

Financial Aid

95% of full-time undergrad Rochester Institute of Technology received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $23,248 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 68% of students received Federal Student Loans averaging $5,284 and 16% of undergrads took out private student loans averaging $18,863.

Finanical Aid Rochester Institute of Technology
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $23,248 95%
Institutional Grants and Scholarships $20,437 94%
Pell Grants $4,616 30%
Other Federal Grants $875 23%
State and Local Grants $4,339 30%
Federal Student Loans $5,284 68%
Other Student Loans $18,863 16%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Rochester Institute of Technology, we've modeled a ten year student loan with an original principal value of $103,856. The loan balance of $103,856 is a four year multiple of the $25,964 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $991 could be required to satisfy your student loan.

Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 2.75%.

Example Loan $103,856
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $990.90
Total Interest Paid $15,052.10
Sum of All Loan Payments $118,908.10

Projected 4 Year Degree Price

4 Year Sticker Price
$245,896
Year All Residents
1 $61,474
2 $64,957
3 $68,638
4 $72,527

Based on published tuition prices, we estimate the current cost of a 4 year bachelor's degree and living expenses at Rochester Institute of Technology to be $245,896 - assuming graduation in normal time. The estimation assumes a 5.7% annual increase over the next 4 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Rochester Institute of Technology
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $1,616 $4,848 $6,464

Estimated cost for a class at Rochester Institute of Technology based on published credit hour prices. Note that not all schools allow single class enrollment. These prices should be used for comparison purposes as to how much it may cost to take a class at Rochester Institute of Technology versus other colleges.

Tuition Payment Plans Available

Rochester Institute of Technology Payment Plans
Tuition Payment Plan Yes
Prepaid Tuition Plan No
Alternative Tuition Plan Yes
Guaranteed Tuition Plan No

Primary data source, U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=195003 IPEDS survey data for Rochester Institute of Technology.