Annual Costs

Undergraduate Tuition

Tuition for Lake Area Technical Institute is $2,736 for the 2017/2018 academic year. This is 23% cheaper than the national average public two year college tuition of $3,532. The cost is 41% cheaper than the average South Dakota tuition of $4,621 for 2 year colleges. Tuition ranks 1st in South Dakota amongst 2 year colleges for affordability and is the 6th most expensive 2 year college in the state. Price does not vary by residence.

The school charges an additional fees of $2,528 in addition to tuition bringing the total effective in-state tuition to $5,264.

Housing Costs

Lake Area Technical Institute doesn't offer on campus housing. If you're not living with family you will need to budget for food and housing in the Watertown area just like you would for a college with dorms. The estimated rent and meal expense per academic year for off campus housing is $6,850.

Books and Supplies

The estimated annual cost for books and supplies is $1,400.

Other Living Expenses

Off-campus students should budget for $2,750 in other miscellaneous living expenses.

Total Costs

The annual tuition and living expense budget to go to LATI was $16,264 for the 2017/2018 academic year. The cost is the same for all students regardless of South Dakota 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 $9,414.

Citation: Price data from the U.S. Department of Education's 2017-2018 and 2016-2017 IPEDS survey response for Lake Area Technical Institute and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for Lake Area Technical Institute
Estimated Budgets
South Dakota Resident Total Budget (Living Off Campus)$16,264
   In-State Tuition$2,736
   Other Fees$2,528
   Off-Campus Housing Budget$6,850
   Off-Campus Other Budget$2,750
   Books and Supplies$1,400
South Dakota Resident Total Budget (Living with Parents)$9,414
   In-State Tuition$2,736
   Other Fees$2,528
   Family Provided Room and Board$0
   With-Family Other Living Budget$2,750
   Books and Supplies$1,400


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 $16,264 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 LATI net price for in-state students is $10,328* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

64% of Lake Area Technical Institute students received grant aid in 2014/2015. The average total aid amount was $3,919. 44 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 $4,192. To apply for a Pell Grant to attend Lake Area Technical Institute, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Lake Area Technical Institute
Financial Aid Summary
Average Annual Net Price$10,328*
Percent of Students Receiving Grant Aid64%
Average Total Grant Aid$3,919
Percent of Students Receiving Pell Grants44%
Average Amount of Pell Grant Aid$4,192

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$8,722
$30,001 to $48,000$9,550
$48,001 to $75,000$12,206
$75,001 to $110,000$13,646

Average Financial Aid Mix - $16,264 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $16,264. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.


Grants and Scholarships

 29% - $3,919

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

Federal Loans

 45% - $6,071

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

Out of Pocket

 26% -  $3,524

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 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 Community Colleges in the Region

School Cost vs. Lake Area Technical Institute
Sisseton Wahpeton College37.1% more expensive
Minnesota West Community and Technical College88.1% more expensive
Southeast Technical Institute8.3% more expensive
Mitchell Technical Institute33.3% more expensive
North Dakota State College of Science53.1% more expensive

Cost of a Degree

Being a school offering two year programs, prospective students should consider the multi year outlay when budgeting the cost for two years at Lake Area Technical Institute.

Estimated 2 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 2 year associate degree at LATI is $32,528 for students graduating in normal time. This methodology for estimating the 2 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 $8,388 in-state net price as the basis. Applying this cost over 2 would estimate the cost of a degree at $16,776**

**Based on a 2 year multiple of Average Annual Net Price for 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 Lake Area Technical Institute.

South Dakota Resident Tuition Per Semester$1,368
South Dakota Resident Total Cost Per Semester$8,132

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 Lake Area Technical Institute 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 Lake Area Technical Institute
Price per credit hour$114
Cost for one class (3 credit hours)$342
Cost for one class (4 credit hours)$456


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. 86% of Lake Area Technical Institute students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $6,071.

Example Loan Payments and Costs

How much are student loan payments for Lake Area Technical Institute? 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 $16,776, 100% of the estimated average net price for a two year program and paid nothing while enrolled. The total of all payments including interest would sum $20,815.17. This could be your effective total out of pocket cost of an education at Lake Area Technical Institute. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 64% of students at this school who receive financial aid and you are paying an average annual net price of $8,388. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Lake Area Technical Institute 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.

Lake Area Technical Institute Student Loan Payments
Example Payments
Monthly Loan Payment$173.46
Amount Borrowed$16,776.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$4,039.17
Sum of All Payments over 10 years$20,815.17

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend LATI? 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 Lake Area Technical Institute, 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 $20,815.17 would be needed to afford a $173.46 monthly payment in the example $16,776.00 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 Lake Area Technical Institute in the future? 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 2 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current 2 year cost of $32,528.00. 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 Lake Area Technical Institute.

Annual2 Year Degree
Estimated Cost in 5 years for students enrolling in 2024$21,276$42,553
Estimated Cost in 10 years for students enrolling in 2029$27,155$54,309
Estimated Cost in 15 years for students enrolling in 2034 $34,657$69,314
Estimated Cost in 18 years for students enrolling in 2037 $40,120$80,240

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at Lake Area Technical Institute 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
Diesel Mechanics Technology/Technician Associate's Degree 46 10% cheaper
Agricultural Business and Management, General Associate's Degree 43 5% cheaper
Construction Engineering Technology/Technician Associate's Degree 29 17% cheaper
Carpentry/Carpenter Associate's Degree 26 13% cheaper
Banking and Financial Support Services Associate's Degree 21 17% cheaper
Physical Therapy Technician/Assistant Associate's Degree 17 19% cheaper
Occupational Therapist Assistant Associate's Degree 17 19% cheaper
Computer Science Associate's Degree 16 22% cheaper
Medical/Clinical Assistant Associate's Degree 13 20% cheaper
Automobile/Automotive Mechanics Technology/Technician Associate's Degree 13 11% cheaper
Marketing/Marketing Management, General Associate's Degree 12 16% cheaper
Drafting and Design Technology/Technician, General Associate's Degree 11 5% cheaper
Welding Technology/Welder Associate's Degree 10 11% cheaper
Machine Tool Technology/Machinist Associate's Degree 9 9% cheaper
Environmental Science Associate's Degree 9 14% cheaper
Emergency Medical Technology/Technician (EMT Paramedic) Associate's Degree 8 10% cheaper
Manufacturing Engineering Technology/Technician Associate's Degree 8 9% cheaper
Clinical/Medical Laboratory Technician Associate's Degree 7 12% cheaper
Human Services, General Associate's Degree 7 26% cheaper
Robotics Technology/Technician Associate's Degree 6 24% cheaper
Dental Assisting/Assistant Associate's Degree 6 18% cheaper
Electrical, Electronic and Communications Engineering Technology/Technician Associate's Degree 3 17% cheaper
Aircraft Powerplant Technology/Technician Associate's Degree 3 16% cheaper


Use the calculators below to formulate a college savings plan for Lake Area Technical Institute 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 Lake Area Technical Institute 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 Lake Area Technical Institute student loan.

Prepayment Option

About Lake Area Technical Institute

Lake Area Technical Institute is a two year community college located in Watertown, South Dakota.  Full time enrollment is 1,600 and part time is 461.

Only undergraduate degrees are offered at this school.

Lake Area Technical Institute
230 11th St NE
Watertown, South Dakota

For Profit / Not For Profit Status

Lake Area Technical Institute 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.

Lake Area Technical Institute cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=219143 IPEDS survey data.