The cost of in-state tuition at Lake Washington Institute of Technology rose by 2.2% for the 2022-23 school year, according to recently published figures, according to the latest disclosure from the National Center for Education Statistics.
Washington residents paid $4,710 to attend the public four-year institution this year, an increase of $101 compared to the $4,609 charged in the 2021-22 academic year.
Non-resident students were charged 120.6% more than in-state students during the 2022-23 school year, paying $10,390. This represents a 2.4% increase from $10,146 in the previous year.
Approximately 98% of the undergraduate student body at the school are Washington residents, while about 2% come from other states.
Data indicates that 41% of full-time undergraduates who enrolled at Lake Washington Institute of Technology in 2022-23 received some form of student financial aid. A total of 101 students were awarded grants or scholarships amounting to $688,079, and eight students took out loans exceeding $52,584.
Across all undergraduate students, 917 received grants or scholarships totaling $7.4 million. Additionally, 142 students obtained federal student loans amounting to $1 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 Lake Washington 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 | 66 | 24% | $348,308 | $5,277 |
| State / local grant or scholarship | 73 | 27% | $290,404 | $3,978 |
| Institutional grants or scholarships | 31 | 11% | $49,367 | $1,592 |
| Grant or scholarship aid total | 101 | 37% | $688,079 | $6,813 |
| Federal student loans | 8 | 3% | $52,584 | $6,573 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 8 | 3% | $52,584 | $6,573 |
| Total student aid | 111 | 41% | $740,663 | $6,672 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
