Cost of education increases for all students at Universal Technical Institute of Illinois Inc in 2022-23 school year
For the 2022-23 school year, tuition at the Universal Technical Institute of Illinois Inc rose by 2.4%, as revealed in the latest report, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled in the two-year private for-profit institution paid $39,850 this year, an increase of $950 from the $38,900 charged during the 2021-22 academic year.
Approximately 72% of the undergraduate student body at the school are residents of Illinois, while about 28% come from other states.
Data indicates that 93% of full-time undergraduates who began studies at the Universal Technical Institute of Illinois Inc in 2022-23 received some form of financial aid. In total, 466 students were awarded grants or scholarships amounting to $2.6 million, and 559 students secured student loans exceeding $4.9 million.
Among all undergraduates, 1,199 students benefited from grants or scholarships totaling $5.2 million. Additionally, 1,091 students obtained federal student loans amounting to $7.2 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.
| Type of Aid | Number of students awarded aid | Percent awarded aid | Total amount of aid awarded | Average amount of aid per student |
|---|---|---|---|---|
| Federal grants | 414 | 63% | $2.3 million | $5,448 |
| State / local grant or scholarship | 0 | 0% | $0 | $0 |
| Institutional grants or scholarships | 171 | 26% | $365,236 | $2,136 |
| Grant or scholarship aid total | 466 | 71% | $2.6 million | $5,624 |
| Federal student loans | 559 | 85% | $3.7 million | $6,562 |
| Other student loans | 149 | 23% | $1.2 million | $7,988 |
| Student loan aid | 559 | 85% | $4.9 million | $8,691 |
| Total student aid | 611 | 93% | $7.5 million | $12,241 |