Ut Students Graduate Debt-Free: How Many?

The University of Tennessee, Knoxville, offers a few full-tuition and mandatory fees scholarships to ensure that students can achieve their dreams without worrying about the cost. In fact, nearly half of the students graduate without debt, and the university is consistently below the national average for student debt. The average loan amount for all undergraduates at the University of Tennessee, Knoxville, is $6,425 per year. The university's tuition is $13,812 for in-state students and $32,956 for out-of-state students.

Nearly half of University of Tennessee students graduate without debt

The University of Tennessee, Knoxville, has a higher tuition fee than the national average, with in-state tuition at $13,812 and out-of-state tuition at $32,956. Despite this, nearly half of the students graduate debt-free, which is a testament to the university's commitment to financial aid and scholarships. The university offers need-based and merit-based scholarships, grants, and work-study programs to help students cover their educational expenses.

Need-based scholarships take into account a student's financial status, while merit-based scholarships reward academic or athletic achievements. The average need-based scholarship for first-year students at the University of Tennessee, Knoxville, was $13,768, and 42% of first-year students received this type of financial aid. Additionally, work-study programs allow students to earn an average of $3,000 per year to help cover their educational costs.

The University of Tennessee, Knoxville, also offers grants to students with the highest financial need. These grants do not need to be repaid and can significantly reduce the financial burden on students. The university is committed to keeping the cost of attendance low and provides resources on campus to help students make responsible financial decisions.

The university's dedication to financial aid is reflected in the fact that 85% of 2023 undergraduates received financial assistance and scholarships from federal, university, and private sources. The university encourages students to file the Free Application for Federal Student Aid (FAFSA) to maximize their financial aid eligibility. By offering a range of financial aid options, the University of Tennessee, Knoxville, ensures that its students can graduate with minimal debt and a strong financial foundation for their future.

Tuition fees are $13,812 for in-state and $32,956 for out-of-state students

The University of Tennessee, Knoxville, is a public research institution and the flagship campus for the state school. Its tuition fees for the 2024-25 academic year are $13,812 for in-state students and $32,956 for out-of-state students. These figures include both tuition and fees, also referred to as the sticker price. The fees may fund library services, student gym facilities, student centres, technology resources, and campus health centres.

The total cost of attendance, which includes the sticker price, food and housing, books and supplies, and transportation and personal expenses, is $33,718 for in-state students and $51,908 for out-of-state students. The net price, which is the average cost of the university after aid and scholarship funds are discounted from the total cost, is $22,155 for in-state students and $42,185 for out-of-state students receiving need-based aid.

The University of Tennessee, Knoxville, offers scholarships to out-of-state students who demonstrate high academic excellence and achievements. Additionally, nearly half of the university's students graduate without debt, and the university is consistently below the national average for student debt.

The average non-need-based scholarship or grant is $6,963

The University of Tennessee, Knoxville, offers a range of scholarships and grants to its students. The average non-need-based scholarship or grant for first-year students at the university is $6,963. These merit-based scholarships are awarded based on specific talents or academic achievements and do not consider a student's financial situation.

The University of Tennessee, Knoxville, is committed to making its education accessible and affordable for students. In fact, nearly half of their students graduate without any debt, which is an impressive statistic and a testament to their financial aid offerings. The university offers various scholarships, including those based on merit, financial need, or Tennessee residency, and some are even renewable for up to four years. This means that students can rely on this support throughout their entire undergraduate degree.

The university also offers need-based scholarships and grants, which are determined by a student's or their family's financial ability to pay for college. The average need-based scholarship or grant awarded to first-year students is $13,768. Additionally, 42% of first-year students received this type of financial aid in the fall of 2022. This need-based aid also includes federal loans and work-study programs, with the average need-based self-help aid being $3,484.

The total cost of attendance, including tuition, fees, food, housing, books, supplies, transportation, and personal expenses, is approximately $33,718 for in-state students and $51,908 for out-of-state students. However, the university meets 57% of its students' financial aid needs, which helps reduce the financial burden on students and their families. The net price after aid and scholarships is significantly lower, averaging $22,155 for in-state and $42,185 for out-of-state students receiving need-based aid.

The University of Tennessee, Knoxville, is dedicated to supporting its students financially and ensuring they can access the resources they need to succeed. With their range of scholarships, grants, and other financial aid options, the university makes higher education more accessible and helps students graduate with less debt.

40% of incoming students take out a loan to help with freshman year costs

The cost of a college education is an important investment in your future. At the University of Tennessee, Knoxville, we are committed to making a UT degree affordable for you. In fact, nearly half of our students graduate without debt, and we consistently remain below the national average for student debt.

For the 2024-2025 academic year, the estimated total cost for full-time students living on campus for both fall and spring semesters is $33,718 for in-state students and $51,908 for out-of-state students. This includes tuition and fees, food and housing, books and supplies, and transportation and personal expenses. However, most students do not pay the full price.

To make our programs more accessible, we offer a range of financial aid options, including scholarships, grants, work-study programs, and student loans. In particular, 40% of incoming students take out loans to help cover their freshman year costs, with an average loan amount of $7,648. This includes both private and federally-funded student loans. The average federal loan amount is $5,157, which is 93.8% of the first-year borrowing cap of $5,500 for dependent students. It's important to note that independent students and those with parents who do not qualify for PLUS loans may have higher borrowing caps.

Additionally, our scholarships are awarded based on merit, financial need, or Tennessee residency, and some are renewable for up to four years. For instance, UT offers full tuition and mandatory fees scholarships for in-state students, as well as scholarships for out-of-state students who demonstrate high academic excellence and achievements.

We also encourage students to file the Free Application for Federal Student Aid (FAFSA) each year to maximize their financial aid eligibility. Our Center for Financial Wellness and One Stop Student Services provide resources and support to help students make responsible financial decisions and navigate enrollment, academic records, payments, and financial aid.

The average loan amount for all undergrads is $6,425 per year

The University of Tennessee in Knoxville offers a variety of scholarships and grants to help students finance their education. The university is committed to making a college education accessible to all Tennesseans, and offers full-tuition and mandatory fees scholarships to in-state students. In addition, 85% of undergraduates in 2023 received financial aid and scholarships from federal, UT, and private sources.

The average loan amount for all undergraduates at the University of Tennessee in Knoxville is $6,425 per year. This figure includes both private and federally-funded student loans. It is important to note that this amount does not include any loans taken out by parents, which can significantly increase the average amount borrowed. Additionally, this amount is higher than the average loan amount for freshmen, which may indicate that the university front-loads financial aid packages, offering more aid to new students.

The total cost of attendance at the University of Tennessee in Knoxville is not just limited to tuition and fees. On-campus living expenses, transportation, books, course materials, supplies, equipment, and loan fees can all add to the overall cost. For the 2024-2025 academic year, the total cost for in-state students was $33,718, while it was $51,908 for out-of-state students. The university offers resources like the Center for Financial Wellness and One Stop Student Services to help students manage their finances and keep the cost of attendance low.

Students can also take advantage of work-study programs to earn money during their studies. Work-study students at the University of Tennessee in Knoxville earn an average of $3,000 per year, which can help cover educational expenses. Additionally, grants are available for students with the highest financial need and do not need to be repaid.

It is worth noting that nearly half of the students at the University of Tennessee in Knoxville graduate without any debt, and the university consistently maintains a lower student debt average compared to the national average.

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