The cost of tuition at Lincoln Technical Institute-Union rose by 3.2% for the 2022-23 school year, as revealed in the most recent report, according to the latest disclosure from the National Center for Education Statistics.
Students enrolled at the private for-profit institution paid $26,897 this year, an increase of $833 compared to the $26,064 charged during the 2021-22 academic year.
Approximately 88% of the undergraduate student body at the school are residents of New Jersey, while about 13% come from other states.
Data indicates that 92% of full-time undergraduates who began their studies at Lincoln Technical Institute-Union in 2022-23 received some form of financial aid. A total of 1,039 students were awarded grants or scholarships amounting to $5.1 million, and 930 students obtained student loans exceeding $8.1 million.
Across all undergraduate students, 1,792 received grants or scholarships totaling $7.8 million. Additionally, 1,682 students borrowed $12.7 million in federal student loans.
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 Lincoln Technical Institute-Union 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 | 795 | 64% | $3.8 million | $4,799 |
| State / local grant or scholarship | 0 | 0% | $0 | $0 |
| Institutional grants or scholarships | 833 | 68% | $1.3 million | $1,600 |
| Grant or scholarship aid total | 1,039 | 84% | $5.1 million | $4,955 |
| Federal student loans | 930 | 75% | $8 million | $8,643 |
| Other student loans | 0 | 0% | $0 | $0 |
| Student loan aid | 930 | 75% | $8.1 million | $8,670 |
| Total student aid | 1,137 | 92% | $13.2 million | $11,619 |
Information in this story was obtained from the National Center for Education Statistics. The source data can be found here.
