Lake Area Technical College

In 2022, tuition for full-time Lake Area Tech students was $3,720 a year for in-state students and $3,720 a year for out-of-state students.

Usually, college tuition goes up about 3% every year.

Remember, the advertized cost of tuition doesn't mean much if you plan to use financial aid to help pay for college. Many students find the actual cost of college is a lot less than the total tuition after grants, scholarships, and tuition discounts kick in. Additionally, student loans can make thecost of college feel more doable until you're done with college.

Lake Area Technical Institute meets 53% of the demonstrated financial need for undergraduates. First-year students that attend Lake Area Technical Institute full-time are awarded $10,243 a year in financial aid, on average.

In-state vs. Out-of-state Tuition at Lake Area Technical Institute

Lake Area Technical Institute is a public, state institution, which means it offers a reduced tuition rate of $3,720 for in-state students who attend full-time.

Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.

Choosing an insitution where you are eligible for in-state tuition can save significant money on the cost of tuition, as well as loans and interest owed. Be sure to confirm your state's eligibility criteria for in-state tuition. Every state has its own rules about what makes someone eligible for in-state tuition. The most common requirement is that students must have lived in the state for a full year before starting school. There may be additional requirements as well, depending on where you live.

Explore other South Dakota colleges

Do International Students Pay More to Go to Lake Area Technical Institute?

Lake Area Technical Institute has the same tuition for international students as for those from out of state.

Students from outside of the U.S. usually do not qualify for for federal financial aid, but may qualify for private or school-specific grants, scholarships, and other funding opportunities.

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Lake Area Technical Institute Living Expenses, Fees, and More

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Tuition is not the only cost of attending college; there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at Lake Area Technical Institute.

House and Food Costs at Lake Area Technical Institute

Room and board at Lake Area Technical Institute is $9,000 a year. This covers the cost of living in dorms or other on-campus housing, plus a meal plan that allows you to eat all or some of your meals the Lake Area Technical Institute's on-campus cafeterias and dining halls. Students who do not live on-campus but would like to be able to eat in the campus dining can choose to be on a meal plan. The cost of board-only is $4,050.

Meal-plan costs can depend on how many meals are included in the plan you choose.

Cost of Books at Lake Area Technical Institute

The cost of books often surprises first-year college students. The real cost of books and supplies depends on the courses you take and what kinds of books and materials they require. To save money, many students choose to use books from the library or buy used textbooks and materials.

Annual Fees

The majority of colleges charge some yearly fees to help cover the cost of facilties, like the library, gym and computer labs.

Keep in mind, there could also be optional fees associated with participating in certain activities, like Greek Life, or playing on an intramural sports team. Most colleges offer resources so that those with financial need to get help covering these costs.

Planes, Trains, and Automobiles: Transportation costs at Lake Area Technical Institute

The cost of transportation in college can really vary. Will you take a subway, car or an airplane to get to school? Will you need to pay to park on-campus? Is the campus walkable? Do you plan to bring a car or are you planning to use public transportation? All of these factors can make a big difference in your transportation budget. Keeping in mind, first-year students are allowed to park a car on campus.

The location of a college or university can impact your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand transportation in a city can be costly, but cities may offer more trains, busses and affordable flights to actually get to school. The Lake Area Technical Institute campus is located in a town in South Dakota.

Other Costs

When creating a budget for college, be sure to take into account the cost of things like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.

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Total Tuition and Expenses at Lake Area Technical Institute

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Now, let’s look at the breakdown of all expenses, to get a better idea of the actual cost of attending Lake Area Technical Institute.

How Much Does Lake Area Technical Institute Cost?

What will the cost of attending Lake Area Technical Institute be? Here is a breakdown of tuition and expenses.

2023 Total Tuition and Expenses
In-state Tuition	$3,720
Out-of-State Tuition	$3,720
Room and Board	$9,000
Board Only	$4,950

The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.

Tuition and fees may vary depending on program, course level, location, and more.

Lake Area Technical Institute’s tuition and fees change based on: •Academic program for both full and part-time students •Course load for both full and part-time students

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Financial Aid at Lake Area Technical Institute

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In 2023, 836 of the 2,240 undergrads enrolled received financial aid. Lake Area Technical Institute meets 53% of the demonstrated financial need for undergraduates.

The average financial aid package for a full-time, first-year student is around $10,243 a year.

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Lake Area Technical Institute financial aid, keep reading, or visit their financial aid website.

Scholarships at Lake Area Technical Institute

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

In 2023, Lake Area Technical Institute awarded 762 need-based scholarships to students, giving away total of $5.5 million to help students with financial need cover the cost of school. An additional $2.2 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Net Cost of Lake Area Technical Institute

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for Lake Area Technical Institute students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

The average amount of financial aid received by a full-time first year student with demonstrated need at Lake Area Technical Institute was $10,243 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Lake Area Technical Institute seem more manageable.

Estimated Net Cost for Full-Time Students
In-State, On-Campus	$-4,768
Net In-state, Off-campus	$2,925
Out-of-State, On-Campus	$5,475

Note: a negative number can indicate that a refund will be given to use toward other expenses such as housing, fees, and books. In such cases, be sure to reach out to the school directly for any clarification or questions.

What will attending Lake Area Technical Institute really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families make more informed decisions about the actual cost of attending that school, based on their financial situation. You can find the Lake Area Technical Institute's net cost calculator on their website.

Lake Area Technical Institute Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

Lake Area Technical Institute does not have guaranteed tuition.

Lake Area Technical Institute offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.

Lake Area Tech Tuition Waivers

Schools sometimes waiver tuition for certain groups, to make attending more affordable. Some colleges offer tuition waivers for employees and their family members, underrepresented students, or military students. Even with a tuition waiver, students are usually responsible for housing, meal plans, and other expenses.

Lake Area Tech has some full or partial tuition waivers available for: - Employees or Children of Employees

Check the financial aid website for more information on payment plans and tuition waivers.

Lake Area Technical Institute's Endowment

An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.

Lake Area Technical Institute's endowment was valued at $4 million in 2023, compared to a national average of $905 million. For each full-time student, Lake Area Technical Institute spends about $7,623 a year.

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Learn More About Lake Area Technical Institute

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