Understanding Southeast Technical College Tuition and Costs
Choosing a college is a significant decision, and understanding the financial aspects is crucial. This article breaks down the tuition, fees, and financial aid options available at Southeast Technical College, providing a comprehensive overview of the costs associated with attending this institution. Southeast Technical College is a small, public institution located in Sioux Falls, SD. Southeast Technical College offers associate degrees or certifications in 49 majors. The degree or certification you pursue is major!
Headline Figures: Tuition and Other Expenses
The annual tuition to attend Southeast Technical Institute is $3,720, regardless of whether you are an in-state or out-of-state student. However, tuition is just one component of the overall cost. Students should also factor in room and board fees, which amount to $8,404 per academic year for on-campus housing. If living on-campus, students should budget for $4,506 in additional living expenses.
To get a clearer picture, the advertised price of attendance is $23,967.
The Net Price: A More Realistic Estimate
The "sticker price" of a college can be misleading. The average reported annual net price for Southeast Technical Institute for students receiving grants or scholarship aid was $15,265 in 2019/2020. The net price provides a more realistic estimate of the true cost of attending Southeast Technical Institute, once common grants and scholarships have been taken into account. It's important to note that your net price will fluctuate based on factors such as family income, assets and individual financial need.
Projected average net price for This year at Southeast Technical College, we project that on average students will pay $15,934, while the advertised price of attendance is $23,967. That’s a difference of $8,032.
Read also: Colleges in the Southeast
Here's a look at net in-state price at Southeast Technical College over time:25-26 - $15,93424-25 - $15,59623-24 - $15,26522-23 - $15,26521-22 - $16,04820-21 - $15,18619-20 - $14,13318-19 - $12,04617-18 - $12,50116-17 - $12,54115-16 - $11,81814-15 - $12,32413-14 - $12,178
Net Price by Income Bracket
How much a student actually pays usually depends, at least in part, on their family's household income. At Southeast Technical College this year, we project students with incomes over $110K will pay around $19,872, while students with incomes below $30K will pay around $15,546. That's a difference of $4,326.
Here's the projected net price at Southeast Technical College by income bracket:
- <$30K: $15,546
- $30K-$48K: $16,262
- $48K-$75K: $16,809
- $75K-$110K: $18,616
- >$110K: $19,872
Financial Aid: Grants, Scholarships, and Loans
Financial aid can include grants, loans, scholarships and work-study jobs. Financial aid packages vary depending on your financial need. Most colleges determine financial need based on your FAFSA. 53% of full-time undergrad Southeast Technical Institute received financial aid in the form of grants, scholarships, fellowships from the institution or from Federal, State or local government agencies. This aid averaged $5,714 per student during the 2019/2020 school year.
Grant and scholarship aid does not need to be paid back. The average Pell Grant awarded for 2019/2020 was $4,760. To apply for a Pell Grant to attend Southeast Technical Institute, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).
Read also: Funding Your Education at Southeast Missouri State
Understanding Student Loan Debt
To gauge a more realistic picture of what it really could cost you out of pocket to go to Southeast Technical Institute, we've modeled a ten year student loan with an original principal value of $30,530. The loan balance of $30,530 is a two year multiple of the $15,265 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 $347 could be required to pay off 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. 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 Southeast Technical Institute, should consider if it will be realistic to make the post graduation loan payments based on your expected salary. a $347.13 monthly payment in the example $30,530.00 loan modeled above. This assumes a repayment over 10 years. You can change the terms of this example loan using the student loan calculator below. View statistics about Southeast Technical Institute student loan debt and graduate salaries under student outcomes. The estimation assumes a 4.7% annual increase over the next 2 years which has been the recent trend for this school.
CollegeSimply has modeled example payment coverage for the annual tuition and living expenses of $22,960.
Additional Costs to Consider
Beyond tuition, room, and board, students should budget for other costs such as:
- Books and Supplies: $2,400 per year
- Personal Expenses: $4,506 per year
Transportation costs are also relevant, though specific figures were not available.
Read also: Affording IU Southeast
Graduation and Retention Rates
A school’s graduation rate can indicate how likely a student is to complete their degree. At Southeast Technical College, over the last five years 56% of students earned their associate’s degree within four years of enrolling.
Student retention, or how often students return to continue their degree after completing their first year, is another helpful indicator. Over the last five years, at Southeast Technical College, about 70% of full-time students returned the following fall to continue their degree.
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