Financial Aid Statistics Comparison
For all undergraduate students, the average percent receiving aid is 55.92 % and the average aid amount is $35,614. The financial aid includes Federal (Pell and other federal), state, local, institutional or other grant aid, and federal student loans. The following table compares the total number and percentage of undergraduate students who received any financial aid between best Mechanical Engineering schools for academic year 2023-2024.
| Rank | Name | Number Receiving Aid | Percent Receiving Aid | Average Amount |
|---|---|---|---|---|
| 1 | Massachusetts Institute of Technology | 2,980 | 64% | $55,629 |
| 1 | Stanford University | 4,866 | 60% | $58,688 |
| 3 | California Institute of Technology | 597 | 61% | $52,266 |
| 3 | University of California-Berkeley | 18,629 | 57% | $22,996 |
| 5 | Georgia Institute of Technology-Main Campus | 12,926 | 70% | $11,761 |
| 5 | University of Illinois Urbana-Champaign | 19,405 | 55% | $16,592 |
| 5 | University of Michigan-Ann Arbor | 16,891 | 52% | $24,478 |
| 8 | Cornell University | 7,881 | 50% | $56,472 |
| 8 | Princeton University | 3,365 | 60% | $62,593 |
| 10 | Carnegie Mellon University | 3,379 | 48% | $43,489 |
| 10 | Purdue University-Main Campus | 16,777 | 43% | $10,024 |
| 10 | The University of Texas at Austin | 20,935 | 51% | $12,383 |
| Average | 10,719 | 55.92% | $35,614 | |
Beginning Students Financial Aid
For first-time, full-time beginning students, the average percent of receiving grant and/or scholarship is 4.43 % and the average grant amount is $3,123. This includes grants or scholarship from all sources - federal (pell grants and other federal grants), state/local, and institutions. The average percent of students who receiving student loans (federal and other student loans) is 1.81 % and the average loan amount is $738. The following table compares the financial aid statistics for first-time, full-time undergraduate students (freshmen) between best Mechanical Engineering schools for academic year 2023-2024.
| Rank | Name | Grants/Scholarships | Student Loans | ||
|---|---|---|---|---|---|
| Number Receiving Aid (Percentage) | Average Amount | Number Receiving Aid (Percentage) | Average Amount | ||
| 1 | Massachusetts Institute of Technology | 654 (58%) | $58,331 | 86 (8%) | $12,071 |
| 1 | Stanford University | 952 (55%) | $64,164 | 124 (7%) | $14,075 |
| 3 | California Institute of Technology | 124 (55%) | $60,201 | 37 (17%) | $10,614 |
| 3 | University of California-Berkeley | 3,369 (50%) | $25,951 | 1,390 (21%) | $6,529 |
| 5 | Georgia Institute of Technology-Main Campus | 2,566 (71%) | $13,423 | 797 (22%) | $7,726 |
| 5 | University of Illinois Urbana-Champaign | 3,842 (48%) | $17,524 | 2,423 (30%) | $7,193 |
| 5 | University of Michigan-Ann Arbor | 3,850 (55%) | $22,005 | 1,687 (24%) | $9,814 |
| 8 | Cornell University | 1,767 (51%) | $56,741 | 1,003 (29%) | $8,574 |
| 8 | Princeton University | 904 (60%) | $60,629 | 116 (8%) | $7,667 |
| 10 | Carnegie Mellon University | 837 (49%) | $47,550 | 619 (36%) | $6,883 |
| 10 | Purdue University-Main Campus | 3,627 (39%) | $11,126 | 2,662 (28%) | $9,001 |
| 10 | The University of Texas at Austin | 4,198 (47%) | $12,060 | 2,662 (30%) | $6,066 |
| Average | 2,224 (53.17%) | $37,475 | 1,134 (21.67%) | $8,851 | |
The ranking data is provided by CollegeEvaluator.
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