Tuition and Fees
As a private institution, Stevens is committed to making a quality education as affordable as possible. Approximately 90% of our students get some form of financial aid. At Stevens, we ensure that all your questions are answered, regarding merit and need-based aid, as well as information about loans and other sources of income a student may be eligible for, such as the Cooperative Education Program and paid internships.
The information here is geared toward undergraduate students. If you have further questions, please click on the link to the Financial Aid page directly. There you will also find important phone numbers and email addresses.
Debaun Performing Arts Scholarship. Students demonstrating achievement in performance, including drama or music, are considered for selection. Recipients of this scholarship will be awarded between $1,000-$10,000 per year, based on outstanding academic achievement, an arts resume, letter of recommendation, and performance recording that highlights your accomplishments. Applications are accepted online only via Slideroom, which can be accessed here or on the Members section questions when submitting the Common Application. We do not accept paper applications for this scholarship.
FIRST Scholarship. In support of the FIRST mission, Stevens Institute of Technology is offering merit-based scholarships, each for $6,000, to high school seniors who have participated on a FIRST team during their junior or senior year. Download this application (PDF).
Science and Technology Center Volunteer Scholarship. To be considered for the scholarship, students must show evidence of volunteer participation at a science or technology center or museum. Recipients of this scholarship will be awarded between $1,000 and $5,000 per year. Download this application (PDF).
Liberal Arts Innovation Scholarship. A $10,000 award granted to student(s) accepted into Stevens' liberal arts programs who best articulate the potential they see for themselves in studying history, philosophy, or social sciences at a technological university. Download this application (PDF).
Business Clubs Scholarship. This scholarship is intended for students admitted to undergraduate business programs at Stevens. To be considered for the scholarship, students must show evidence of achievement and participation in business related clubs or organizations, as illustrated on their applications for admission to Stevens Institute of Technology. Recipients of this scholarship will be awarded between $1,000 and $10,000 per year. Download this application (PDF).
Frequently Asked Questions Regarding Loan Options
With regard to Federal loans, what are my options?
There are many different financial aid loans available to students, including the William D. Ford Federal Direct Stafford Loan and the Federal Carl D. Perkins Loan. In addition, the Federal Direct PLUS Loan is available to parents, and the NJCLASS Loan is available to any student attending college in New Jersey.
What is the NJCLASS Loan?
NJCLASS is one of the nation's most flexible supplemental student loan programs for students attending college in New Jersey. NJCLASS allows students or parents to borrow the money needed to meet the cost of education after all other sources of student aid are exhausted. There are no annual and/or aggregate loan limits. NJCLASS may be used for school related expenses including tuition and fees, books, supplies, and room and board.
For more information about this loan, including how to apply and deadlines, please visit http://www.hesaa.org.
How do I apply for Federal Loans?
Federal Loans are awarded to eligible students who have completed the Free Application for Federal Student Aid (FAFSA). The FAFSA must be completed prior to Stevens deadline (February 15 for incoming freshmen) in order to be considered for Federal aid. Please visit http://www.fafsa.ed.gov/ for additional information.
A key factor of student Federal loans is that there is no credit check required. This applies to both subsidized and unsubsidized loans.
I’ve heard it’s difficult to obtain student loans given the current state of the economy. Is this true at Stevens?
No. Because Stevens is a direct lender our loans are administered through our Financial Aid office directly from the government. Therefore, there are no banks, lending institutions or other third parties involved with loans that our students receive.
Tell me more about direct lending and what it means to me.
Direct lending essentially removes the middle man from the loan process. Stevens deals directly with the government for all Federal loans, therefore no third parties are involved. This means that you work with Stevens – and only Stevens – with regard to your Federal loans, and you don’t have to worry about choosing a lender. Direct lending applies to both subsidized and unsubsidized loans, in addition to the Federal Direct PLUS Loan.
How easy is it to obtain a Private loan at this time?
Stevens is pleased to work with several private lenders, including Sallie Mae, Citibank, and Chase. We are confident in the stability of the lenders we use, including the NJCLASS Loan. Our lenders have a solid track record and have proven to be consistent lending institutions, both in the past and on track for the future.
Are Stevens students still consistently receiving loans?
Yes, our students have been continually successful in obtaining loans. It is evident that our lenders feel confident working with Stevens and our students, due in part to the excellent repayment rate of our responsible alumni and past borrowers. Our graduates boast a strong reputation for on-time repayment, thus making it even easier for our current and future students to be extended loans.
What are the repayment terms for all available loans?
Each loan has its own set of terms; for a full breakdown of specific information for each loan, please visit: http://www.stevens.edu/finaid/afo.php.
Certain loans have key features to keep in mind. A quick synopsis of these is as follows:
- Federal Direct PLUS Loan: Repayment starts 60 days after second disbursement of loan. However, you can choose to defer payments completely until after the student’s graduation, or defer just the principal repayment.
- Discover Loan: Offers total deferment until nine months after graduation.
- NJCLASS Loan: Repayment begins while student is still enrolled in school; however, the loan principal can be deferred.
- Sallie Mae Smart Option Loan: Repayment of interest must be made while student is still enrolled in school; principal can be deferred.
If I would like more information, is there a website I can visit or someone I can speak with?
Of course! We are committed to making the process of choosing – and paying for – college as easy as possible. Do not hesitate to contact us at 800-458-5323 or email the Office of Undergraduate Admissions.
Financial Aid Quick Links
The FAFSA is required in order to be considered for federal and state aid. The CSS profile is required to be considered for Stevens Institutional aid in the form of scholarships and grants.