|Books and Supplies||$700|
|Estimated Off Campus Cost of Living||$6,000|
|Other Expenses Budget||$2,550|
The annual list price to attend Mitchell Technical Institute on a full time basis for 2020/2021 is $16,609 for all students regardless of their residency. This fee is comprised of $3,993 for tuition, $6,000 room and board, $700 for books and supplies and $3,366 for other fees. Out of state tuition for Mitchell Technical Institute is $3,993, the same as South Dakota residents.All price data is sourced from the 2020/2021 U.S. Department of Education National Center for Education Statistics survey.
Net price is indicative of what it actually costs to attend Mitchell Technical Institute when typical grants and scholarships are considered. The net price varies by family income and financial need.
|Family Income||Net Price Paid|
|$0 to $30,000||$9,102|
|$30,001 to $48,000||$9,821|
|$48,001 to $75,000||$12,798|
|$75,001 to $110,000||$14,117|
The average reported annual net price for Mitchell Technical Institute for students receiving grants or scholarship aid was $11,274 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses
90% of full-time undergrad Mitchell Technical Institute received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $4,255 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 57% of students received Federal Student Loans averaging $4,998 and 10% of undergrads took out private student loans averaging $8,596.
|Total Grant and Scholarship Aid||$4,255||90%|
|Institutional Grants and Scholarships||$788||32%|
|Other Federal Grants||$358||19%|
|State and Local Grants||$3,745||15%|
|Federal Student Loans||$4,998||57%|
|Other Student Loans||$8,596||10%|
To gauge a more realistic picture of what it may really cost you out of pocket to go to Mitchell Technical Institute, we've modeled a ten year student loan with an original principal value of $16,764. The loan balance of $16,764 is a two year multiple of the $8,382 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 $160 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%.
|Stafford Loan Interest Rate||2.75%|
|Time to Pay Off Student Loan||10 years|
|Example Monthly Payment||$159.95|
|Total Interest Paid||$2,429.65|
|Sum of All Loan Payments||$19,193.65|
Based on published tuition prices, we estimate the current cost of a 2 year associate degree and living expenses at Mitchell Technical Institute to be $33,218 - assuming graduation in normal time. The estimation assumes a 4.4% annual increase over the next 2 years which has been the recent trend for this school.
|Price Per Credit||3 Credit Class||4 Credit Class||All Residents||$121||$363||$484|
Estimated cost for a class at Mitchell Technical Institute 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 Mitchell Technical Institute versus other colleges.
|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=219189 IPEDS survey data for Mitchell Technical Institute.