Tuition and Cost to Attend New England Institute of Technology

Annual Total Cost

The annual total list price cost to go to New England Institute of Technology was $29,955 for the 2013/2014 academic year. The cost is the same for all students regardless of Rhode Island residence status as there is no in-state discount. Students residing at home with parents providing food and housing can expect a total cost of $22,820.

Undergraduate Tuition

Tuition for New England Institute of Technology is $19,875 for the 2013/2014 academic year. This is 19% cheaper than the national average private non-profit four year college tuition of $24,476. The cost is $9,660 and 33% cheaper than the average Rhode Island tuition of $29,535 for 4 year colleges. Tuition ranks 3rd in Rhode Island amongst 4 year colleges for affordability and is the 8th most expensive 4 year college in the state. Price does not vary by residence.

The school charges an additional fees of $1,410 in addition to tuition bringing the total effective in-state tuition to $21,285.

Housing Costs

New England Institute of Technology doesn't offer on campus housing. If you're not living with family you will need to budget for food and housing in the Warwick area just like you would for a college with dorms. The estimated rent and meal expense per academic year for off campus housing is $7,135.

Books and Supplies

The estimated annual cost for books and supplies is $1,535.

Costs and Tuition for New England Institute of Technology
Expenditure Price
Rhode Island Resident Total Cost (Off Campus Housing)$29,955
   In-State Tuition$19,875
   Other Fees$1,410
   Off-Campus Housing Estimate$7,135
   Books and Supplies$1,535
Rhode Island Resident Total Cost (Living with Parents)$22,820
   In-State Tuition$19,875
   Other Fees$1,410
   Family Provided Room and Board$0
   Books and Supplies$1,535
Non-Resident Total Cost (Off Campus Housing)$29,955
   Out-of-State Tuition$19,875
   Other Fees$1,410
   Off-Campus Housing Estimate$7,135
   Books and Supplies$1,535

All price data are reprinted from the U.S. Department of Education's 2013-2014 and 2012-2013 IPEDS Survey and represent reported costs for the 2013-2014 and 2012-2013 academic years.

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 $29,955 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 New England Institute of Technology net price for in-state students receiving aid was $25,969* for the 2010/2011 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

66% of New England Institute of Technology students received grant aid in 2010/2011. The average total aid amount was $5,101. 48 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2010/2011 was $4,798. To apply for a Pell Grant to attend New England Institute of Technology, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for New England Institute of Technology
Financial Aid Summary
Average Annual Net Price$25,969*
Percent of Students Receiving Grant Aid66%
Average Total Grant Aid$5,101
Percent of Students Receiving Pell Grants48%
Average Amount of Pell Grant Aid$4,798

Average Net Price 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 reported for the 2011-2012 academic year.

Family Income Avg. Net Price
$0 to $30,000$26,078
$30,001 to $48,000$27,362
$48,001 to $75,000$30,376
$75,001 to $110,000$31,308
$110,000+$31,674

Average Financial Aid Mix - $29,955 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $29,955. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

17%
25%
58%

Grants and Scholarships

 17% - $5,101

Money granted to you by the U.S. Department of Education, New England Institute of Technology or other organizations. These are not loans and do not need to be repaid.

Federal Loans

 25% - $7,458

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

Out of Pocket

 58% -  $17,396

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

*Reported Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2011-2012 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 Academically Similar Schools in the Region

School Cost vs. New England Institute of Technology

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 New England Institute of Technology.

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 New England Institute of Technology is $119,820 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 $25,969 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $103,876**

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 $149,775 or $129,845 using an average net price.

**Based on a 4 year multiple of Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2011-2012 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

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 New England Institute of Technology 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 New England Institute of Technology
Price per credit hour$370
Cost for one class (3 credit hours)$1,110
Cost for one class (4 credit hours)$1,480



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. 73% of New England Institute of Technology students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $7,458.

Example Loan Payments and Costs

How much are student loan payments for New England Institute of Technology? 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 $103,876, 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 $130,150.08. This could be your effective total out of pocket cost of an education at New England Institute of Technology. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 66% of students at this school who receive financial aid and you are paying an average annual net price of $25,969. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our New England Institute of Technology 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.

New England Institute of Technology Student Loan Payments
Example Payments
Monthly Loan Payment$1,084.58
Amount Borrowed$103,876.00
Interest Rate4.7%
Term10 years
Number of Monthly Payments120
Total Interest Cost$26,274.08
Sum of All Payments over 10 years$130,150.08

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend New England Institute of Technology? 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 New England Institute of Technology, 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 $130,150.08 would be needed to afford a $1,084.58 monthly payment in the example $103,876.00 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 New England Institute of Technology in the future? In the past five years, this school's published in-state tuition and fee total rose from $16,245 to $19,935. This amounts to an average annual price increase of 4.5%. 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 4 year cost of $119,820.00. 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 New England Institute of Technology.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2019$41,195$164,780
Estimated Cost in 10 years for students enrolling in 2024$52,577$210,306
Estimated Cost in 15 years for students enrolling in 2029 $67,102$268,410
Estimated Cost in 18 years for students enrolling in 2032 $77,680$310,718

Tuition History

What was tuition at New England Institute of Technology 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 the past as it provides indication as to how the school may raise tuition in the next few years if you enrolled. Historical tuition and fees for all available data years back to 1988 follows.

YearTuitionAnnual Increase
2010$18,2103.7%
2009$17,5656%
2008$16,5652%
2007$16,2458.3%
2006$15,0004.7%
2005$14,3252.4%
2004$13,9953.3%
2003$13,5457.1%
2002$12,6457.7%
2001$11,7455.5%
2000$11,1304.8%
1999$10,6201.4%
1998$10,4702.9%
1997$10,1704.1%
1996$9,7700.7%
1995$9,7003.3%
1994$9,3905.9%
1993$8,8658.2%
1992$8,1958.8%
1991$7,5309.8%
1990$6,8557.8%
1989$6,36012.5%
1988$5,6555.3%
1987$5,370

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at New England Institute of Technology 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
Computer and Information Sciences, General Associate's Degree 122 66% costlier
Automobile/Automotive Mechanics Technology/Technician Associate's Degree 111 79% costlier
Electrical/Electronics Equipment Installation and Repair, General Associate's Degree 93 74% costlier
Radio and Television Broadcasting Technology/Technician Associate's Degree 77 64% costlier
Computer Graphics Associate's Degree 65 47% costlier
Architectural Engineering Technology/Technician Associate's Degree 62 57% costlier
Construction Engineering Technology/Technician Associate's Degree 45 66% costlier
Occupational Therapist Assistant Associate's Degree 40 61% costlier
Surgical Technology/Technologist Associate's Degree 37 64% costlier
Heating, Ventilation, Air Conditioning and Refrigeration Engineering Technology/Technician Associate's Degree 36 57% costlier
Electrical and Electronic Engineering Technologies/Technicians, Other Associate's Degree 33 56% costlier
Mechanical Engineering/Mechanical Technology/Technician Associate's Degree 32 47% costlier
Business Administration, Management and Operations, Other Bachelor's Degree 30 2% cheaper
Business Administration and Management, General Associate's Degree 30 50% costlier
Plumbing Technology/Plumber Associate's Degree 29 67% costlier
Health and Medical Administrative Services, Other Associate's Degree 29 74% costlier
Physical Therapy Technician/Assistant Associate's Degree 29 61% costlier
Intermedia/Multimedia Associate's Degree 28 24% costlier
Autobody/Collision and Repair Technology/Technician Associate's Degree 26 77% costlier
Graphic Design Associate's Degree 25 33% costlier
Criminal Justice/Safety Studies Associate's Degree 18 66% costlier
Marine Maintenance/Fitter and Ship Repair Technology/Technician Associate's Degree 18 57% costlier
Interior Design Associate's Degree 10 47% costlier
Multi-/Interdisciplinary Studies, Other Associate's Degree 7 75% costlier
Registered Nursing/Registered Nurse Associate's Degree 7 61% costlier
Health/Health Care Administration/Management Bachelor's Degree 4 2% costlier

Calculators

Use the calculators below to formulate a college savings plan for New England Institute of Technology 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 New England Institute of Technology 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 New England Institute of Technology student loan.

Prepayment Option

About New England Institute of Technology

New England Institute of Technology is a four year private college located in Warwick, Rhode Island.  Full time enrollment is 2,606 and part time is 386.  New England Institute of Technology has an open admission policy meaning that any prospective student who has completed high school or attained a GED certificate may enroll in classes.

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

Address
New England Institute of Technology
2500 Post Rd
Warwick, Rhode Island
02886-2244

For Profit / Not For Profit Status

New England Institute of Technology is a private not for profit institution.