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Annual Costs

Undergraduate Tuition

Michigan Technological University tuition is $14,334 per year for in-state residents. This is 110% more expensive than the national average public four year tuition of $6,841. The cost is 22% cheaper than the average Michigan tuition of $18,353 for 4 year colleges. Tuition ranks 31st in Michigan amongst 4 year colleges for affordability and is the 28th most expensive 4 year college in the state. If attending from out-of-state, the tuition is $30,668 which represents a 114% premium.

The school charges an additional fees of $300 in addition to tuition bringing the total effective in-state tuition to $14,634.

Housing Costs

On campus room and board is provided by the school at a cost of $10,105 per academic year. Students electing to live off campus elsewhere in Houghton should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $1,200.

Other Living Expenses

If living on-campus, students should budget for $2,340 in additional living expenses. Off-campus students should budget for $2,340 in other miscellaneous living expenses.

Total Costs

The total tuition and living expense budget for in-state Michigan residents to go to Michigan Tech is $28,279 for the 2015/2016 academic year. Out-of-state students who don't have Michigan residence can expect a one year cost of $44,613.

Citation: Price data from the U.S. Department of Education's 2016-2017 and 2015-2016 IPEDS survey response for Michigan Technological University and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for Michigan Technological University
Estimated Budgets
Michigan Resident Total Budget $28,279
   In-State Tuition$14,334
   Other Fees$300
   Room and Board$10,105
   On-Campus Other Budget$2,340
   Books and Supplies$1,200
Non-Resident Total Budget $44,613
   Out-of-State Tuition$30,668
   Other Fees$300
   Room and Board$10,105
   On-Campus Other Budget$2,340
   Books and Supplies$1,200

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What it Really Costs

Depending on many factors including student and parent income and assets, the total cost of attendance may be less than the $28,279 published price if scholarship or grant aid is made available to you.

Net Price

The net out-of-pocket total cost you end up paying or financing though student loans is known as the net price. The reported Michigan Tech net price for in-state students is $15,629* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

96% of Michigan Technological University students received grant aid in 2014/2015. The average total aid amount was $11,093. 25 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2014/2015 was $4,330. To apply for a Pell Grant to attend Michigan Technological University, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Michigan Technological University
Financial Aid Summary
Average Annual Net Price$15,629*
Percent of Students Receiving Grant Aid96%
Average Total Grant Aid$11,093
Percent of Students Receiving Pell Grants25%
Average Amount of Pell Grant Aid$4,330

Average Net Price for In-State Students by Family Income

The average net total cost of attendance for different levels of family income after federal, state or local government, institutional grant and scholarship aid are awarded. Data last published for the 2014/2015 academic year.

Family Income Avg. Net Price
$0 to $30,000$8,056
$30,001 to $48,000$9,745
$48,001 to $75,000$12,337
$75,001 to $110,000$16,519
$110,000+$20,128

Average Financial Aid Mix - $28,279 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $28,279. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

43%
21%
37%

Grants and Scholarships

 43% - $11,093

Money granted to you by the U.S. Department of Education, Michigan Technological University or other organizations. These are not loans and do not need to be repaid.

Federal Loans

 21% - $5,327

Low interest student loans funded by the U.S. Department of Education. This amount will need to be repaid.

Out of Pocket

 37% -  $9,519

Covered by family savings, work or private student loans which you will have to repay.


*Reported Average Annual Net Price for in state students receiving grant or scholarship aid reported to the U.S. Department of Education's Academic Year 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Note that for colleges with no reported on-campus room and board, the average net price has been increased to account for living expenses. This number may not only reflect the net price paid to the school for tuition.

Tuition Comparison to Similar Public Colleges in the Region

School Cost vs. Michigan Technological University
University of Wisconsin La Crosse47.1% less expensive
Northern Illinois University34% less expensive
University of Iowa50.3% less expensive

Cost of a Degree

When considering ability to pay for college, the annual cost is often discussed but it's the "all in" multi-year degree cost which matters in the end. Let's take a look at what it could really cost for four years at Michigan Technological University.

Estimated 4 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 4 year bachelor's degree at Michigan Tech is $113,116 for students graduating in normal time. This methodology for estimating the 4 year cost is a straight multiple of the most recent reported annual total cost and does not factor in tuition increases during the time you're in school. It also assumes you receive no grant or scholarship aid and pay the full list price.

A potentially more accurate but less conservative estimate of a degree cost can be made by using the school's annual $15,024 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $60,096**

If you end up on the "five year plan" and need an additional year to graduate, your five year cost could be as high as $141,395 or $75,120 using an average net price.

**Based on a 4 year multiple of Average Annual Net Price for in state students receiving grant or scholarship aid reported to the U.S. Department of Education's 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Other Costs

Estimated Cost Per Semester

Most colleges don't charge students on an annual basis but instead require payment semester by semester. If you ever need to take an additional semester of classes to complete you degree you shouldn't have to pay for a full academic year. These our estimated costs for a semester at Michigan Technological University.

Michigan Resident Tuition Per Semester$7,167
Michigan Resident Total Cost Per Semester$14,140
Non-Michigan Resident Tuition Per Semester$15,334
Non-Michigan Resident Total Cost Per Semester$22,306

Cost Per Credit Hour and Cost for a Class

Some schools offer the ability to take single classes by paying on a per credit hour basis. The reported price per credit hour and estimated cost for one class at Michigan Technological University are as follows. Per credit costs are for reference only as many schools will not allow students to pay by credit hour.

Cost per credit hour and per class at Michigan Technological University
Price per credit hour for Michigan residents$421
Cost for one class for Michigan residents (3 credit hours)$1,263
Price per credit hour for out of state residents$857
Cost for one class for out of state residents (3 credit hours)$2,571
Cost for one class for out of state residents (4 credit hours)$3,428

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Student Loans and Debt

The second consideration after understanding the cost of college is determining how to finance it. Some students are fortunate enough to have some form of family financial assistance, but student loans end up financing a significant portion of higher education in the U.S. 65% of Michigan Technological University students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $5,327. The reported average student debt upon graduation is $34,938.

Example Loan Payments and Costs

How much are student loan payments for Michigan Technological University? Obviously this varies based on a number of factors - offsetting financial aid you receive, percentage of fee you pay upfront while enrolled and the interest rate on your loans. We've modeled a sample student loan based on current Stafford loan rates to give you an approximate idea.

The following are the costs for a loan if you borrowed $60,096, 100% of the estimated average net price for a four year program and paid nothing while enrolled. The total of all payments including interest would sum $74,565.35. This could be your effective total out of pocket cost of an education at Michigan Technological University. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 96% of students at this school who receive financial aid and you are paying an average annual net price of $15,024. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Michigan Technological University student loan calculator below to change loan assumptions and recalculate.

Student loans are not free money and must be repaid. You cannot dismiss student loans by via bankruptcy.

Michigan Technological University Student Loan Payments
Example Payments
Monthly Loan Payment$621.38
Amount Borrowed$60,096.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$14,469.35
Sum of All Payments over 10 years$74,565.35

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend Michigan Tech? In the end, the answer comes down a determination if you will earn enough to comfortably pay back a student loan with your post graduation salary. This is an extremely important point to consider. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending Michigan Technological University, you need to carefully consider if it will be realistic to make the post graduation loan payments based on your expected salary.

Using the 10% of salary threshold, an annual income of $74,565.35 would be needed to afford a $621.38 monthly payment in the example $60,096.00 loan modeled above. You will need to determine if it is at all realistic that you will be earning this type of salary after graduation. This assumes a loan payback over 10 years. You can change the terms of this example loan using the student loan calculator below.

Estimated Future Cost and Expected Tuition Increase

What will it cost to send your child to Michigan Technological University in the future? In the past four years, this school's published in-state tuition and fee total rose from $12,615 to $14,334. This amounts to an average annual price increase of 2.7%. Nationally, university tuition prices are rising around 5% per year. Looking out five, ten, fifteen or eighteen years, these are CollegeCalc's estimates how much you could expect to pay for a 4 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current in-state 4 year cost of $113,116.00. Use the college savings plan calculator below to perform a more comprehensive analysis on future costs and how much you will need to save for Michigan Technological University.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2023$38,890$155,561
Estimated Cost in 10 years for students enrolling in 2028$49,635$198,539
Estimated Cost in 15 years for students enrolling in 2033 $63,348$253,392
Estimated Cost in 18 years for students enrolling in 2036 $73,333$293,333

Tuition History

What was tuition at Michigan Tech five, ten, fifteen or twenty years ago? Hop into our time machine and take a look. Pay attention to how aggressive the school has been with price increases in the past as it provides indication as to how the school may raise tuition in the next few years. Historical tuition and fees for all available data years back to 1987 follows.

YearIn-StateOut-of-stateAnnual Increase
2012$12,615$25,710 12.9%
2011$11,175$23,685 -1.5%
2010$11,348$23,618 5.5%
2009$10,761$22,521 9.5%
2008$9,829$21,589 10.3%
2007$8,910$20,679 8.7%
2006$8,194$19,384 7.7%
2005$7,610$18,782 2.3%
2004$7,440$18,330 15.3%
2003$6,455$14,825 9.6%
2002$5,887$13,165 26.2%
2001$4,666$11,222 3.9%
2000$4,491$10,704 3%
1999$4,362$10,203 7.4%
1998$4,062$9,702 2.9%
1997$3,948$9,231 2.7%
1996$3,843$8,733 5.7%
1995$3,636$8,253 5.7%
1994$3,441$7,785 5.9%
1993$3,249$7,326 11.4%
1992$2,916$6,555 14.8%
1991$2,541$6,012 6.3%
1990$2,391$5,652 9%
1989$2,193$5,172 12.5%
1988$1,950$4,352 4.3%
1987$1,869$4,221

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at Michigan Technological University to the national average for all other colleges offering the same major. Use this comparison to determine particular programs where this school offers value relative to other colleges.

Area of Study Graduates vs National Avg
Civil Engineering, General Bachelor's Degree 96 12% costlier
Chemical Engineering Bachelor's Degree 66 4% costlier
Business Administration and Management, General Bachelor's Degree 64 39% costlier
Network and System Administration/Administrator Bachelor's Degree 42 62% costlier
Environmental/Environmental Health Engineering Bachelor's Degree 26 0% costlier
Materials Engineering Bachelor's Degree 23 1% cheaper
Mechanical Engineering/Mechanical Technology/Technician Bachelor's Degree 22 37% costlier
Psychology, General Bachelor's Degree 19 18% costlier
Mathematics, General Bachelor's Degree 18 16% costlier
Construction Management Bachelor's Degree 15 53% costlier
Computer Software Engineering Bachelor's Degree 14 22% costlier
Technical and Scientific Communication Bachelor's Degree 12 8% cheaper
Surveying Engineering Bachelor's Degree 12 31% costlier
Chemistry, General Bachelor's Degree 11 14% costlier
Electrical and Electronics Engineering Bachelor's Degree 11 12% costlier
Physics, General Bachelor's Degree 11 8% costlier
Industrial Technology/Technician Bachelor's Degree 10 57% costlier
Electrical, Electronic and Communications Engineering Technology/Technician Bachelor's Degree 8 55% costlier
Biochemistry and Molecular Biology Bachelor's Degree 7 5% cheaper
Engineering, General Bachelor's Degree 6 4% costlier
Clinical Laboratory Science/Medical Technology/Technologist Bachelor's Degree 6 32% costlier
Geological/Geophysical Engineering Bachelor's Degree 6 14% costlier
Recording Arts Technology/Technician Bachelor's Degree 6 17% costlier
Finance, General Bachelor's Degree 5 27% costlier
International and Intercultural Communication Bachelor's Degree 5 7% cheaper
Computer Systems Networking and Telecommunications Bachelor's Degree 5 71% costlier
Anthropology Bachelor's Degree 4 5% costlier
Wildlife, Fish and Wildlands Science and Management Bachelor's Degree 3 41% costlier
Geophysics and Seismology Bachelor's Degree 3 2% cheaper
Biology/Biological Sciences, General Bachelor's Degree 3 17% costlier
Health and Physical Education/Fitness, General Bachelor's Degree 3 31% costlier
Economics, General Bachelor's Degree 3 6% costlier
Environmental Science Bachelor's Degree 2 11% costlier
History, General Bachelor's Degree 2 16% costlier
English Language and Literature, General Bachelor's Degree 2 18% costlier
Kinesiology and Exercise Science Bachelor's Degree 2 23% costlier
Forestry, General Bachelor's Degree 2 26% costlier
Geology/Earth Science, General Bachelor's Degree 2 15% costlier
Humanities/Humanistic Studies Associate's Degree 2 115% costlier
Bioengineering and Biomedical Engineering Bachelor's Degree 2 7% cheaper
Medicinal and Pharmaceutical Chemistry Bachelor's Degree 2 6% costlier
Accounting Bachelor's Degree 2 27% costlier
Mechanical Engineering Bachelor's Degree 1 12% costlier
Computer Engineering, General Bachelor's Degree 1 12% costlier
Computer Science Bachelor's Degree 1 13% costlier
Technical Theatre/Theatre Design and Technology Bachelor's Degree 1 9% costlier
Civil Engineering Technology/Technician Associate's Degree 1 135% costlier
Social Sciences, General Bachelor's Degree 1 24% costlier
Marketing/Marketing Management, General Bachelor's Degree 1 29% costlier

Calculators

Use the calculators below to formulate a college savings plan for Michigan Technological University or model a student loan.

College Savings Calculator

Plan and Save for College

Discover how much will you need to start saving now to afford Michigan Technological University in the future.

Student Loan Calculator

Estimate Loan Payments

Modify the loan assumptions to fit your financial situation and likely tuition price. Then calculate your payoff and loan payments for a Michigan Technological University student loan.

Prepayment Option

About Michigan Technological University

Michigan Technological University is a four year public college located in Houghton, Michigan.  Full time enrollment is 6,456 and part time is 796.

Students attending this school may pursue both undergraduate and graduate degrees.

Address
Michigan Technological University
1400 Townsend Drive
Houghton, Michigan
49931-1295

For Profit / Not For Profit Status

Michigan Technological University is a public not for profit institution. Public schools often represent the best value for your education dollar, especially when students qualify for in-state tuition.

Michigan Technological University cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=171128 IPEDS survey data.

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