The Great Lakes Institute of Technology saw a 5.9% tuition increase for the 2022-23 school year, as revealed in the latest report, according to the latest disclosure from the National Center for Education Statistics.
Students were charged $42,750 to attend the two-year private for-profit college during both the 2021-22 and 2022-23 academic years.
Approximately 91% of the undergraduate students at the institution are residents of Pennsylvania, while about 9% come from other states.
Data indicates that 89% of full-time undergraduates who enrolled at the Great Lakes Institute of Technology in 2022-23 received some form of financial aid. A total of 218 students were awarded grants or scholarships amounting to $1.4 million, and 229 students borrowed more than $1.7 million in student loans.
Across all undergraduate students, 356 received grants or scholarships totaling $2.4 million. Additionally, 371 students took out federal student loans that also totaled $2.4 million.
Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.
According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.
Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.
Available data sometimes exceeds 100% due to rounding and administrative calculations.
The following data includes only full-time students who began an undergraduate program at the the Great Lakes Institute of Technology in the 2022-23 school year.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 201 | 70% | $1 million | $5,071 |
| State / local grant or scholarship | 80 | 28% | $346,580 | $4,332 |
| Institutional grants or scholarships | 31 | 11% | $63,227 | $2,040 |
| Grant or scholarship aid total | 218 | 75% | $1.4 million | $6,555 |
| Federal student loans | 223 | 77% | $1.4 million | $6,075 |
| Other student loans | 37 | 13% | $298,441 | $8,066 |
| Student loan aid | 229 | 79% | $1.7 million | $7,219 |
| Total student aid | 256 | 89% | $3.1 million | $12,039 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
