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Private 2 Year

Morrison Institute of Technology Tuition & Cost

Morrison, Illinois

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How much does it cost to attend?

Sticker Price
$28,727
Costs for Morrison Institute of Technology
Fee Cost
Tuition$16,000
Books and Supplies$1,000
Other Fees$1,400
Room and Board $6,563
Other Expenses Budget$3,764

Annual Prices

The annual list price to attend Morrison Institute of Technology on a full time basis for 2020/2021 is $28,727 for all students regardless of their residency. This fee is comprised of $16,000 for tuition, $6,563 room and board, $1,000 for books and supplies and $1,400 for other fees. Out of state tuition for Morrison Institute of Technology is $16,000, the same as Illinois residents.

All price data is sourced from the 2020/2021 U.S. Department of Education National Center for Education Statistics survey.

Net Price

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

Average Net Price 2019/2020
$21,547
Net Price by Income Morrison Institute of Technology
Family Income Net Price Paid
$0 to $30,000$19,759
$30,001 to $48,000$20,954
$48,001 to $75,000$24,431
$75,001 to $110,000$26,220
$110,000+$26,614

The average reported annual net price for Morrison Institute of Technology for students receiving grants or scholarship aid was $21,547 in 2019/2020. Net price includes tuition and required fees, books and supplies, and average cost for room and board and other expenses

Costs for Similar Colleges

Financial Aid

94% of full-time undergrad Morrison 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 $6,361 per student during the 2019/2020 school year. Grant and scholarship aid does not need to be paid back. 85% of students received Federal Student Loans averaging $5,679 and 12% of undergrads took out private student loans averaging $7,573.

Finanical Aid Morrison Institute of Technology
Type Avg./Student Students Receiving
Total Grant and Scholarship Aid $6,361 94%
Institutional Grants and Scholarships $861 55%
Pell Grants $3,808 45%
Other Federal Grants $1,585 91%
State and Local Grants $5,134 45%
Federal Student Loans $5,679 85%
Other Student Loans $7,573 12%

Student Loans

To gauge a more realistic picture of what it may really cost you out of pocket to go to Morrison Institute of Technology, we've modeled a ten year student loan with an original principal value of $29,648. The loan balance of $29,648 is a two year multiple of the $14,824 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 $283 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 $29,648
Stafford Loan Interest Rate 2.75%
Time to Pay Off Student Loan 10 years
Example Monthly Payment $282.87
Total Interest Paid $4,296.95
Sum of All Loan Payments $33,944.95

Projected 2 Year Degree Price

2 Year Sticker Price
$57,454
Year All Residents
1 $28,727
2 $29,410

Based on published tuition prices, we estimate the current cost of a 2 year associate degree and living expenses at Morrison Institute of Technology to be $57,454 - assuming graduation in normal time. The estimation assumes a 2.4% annual increase over the next 2 years which has been the recent trend for this school.

Credit Hour Cost and Price per Class

Credit Hour and Class Costs at Morrison Institute of Technology
Price Per Credit 3 Credit Class 4 Credit Class
All Residents $630 $1,890 $2,520

Estimated cost for a class at Morrison 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 Morrison Institute of Technology versus other colleges.

Tuition Payment Plans Available

Morrison 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=147396 IPEDS survey data for Morrison Institute of Technology.