Illinois Institute of Technology
Chicago, Illinois · Private Nonprofit · 54.9% acceptance rate
ROI Score: 92/100 · Exceptional Value
Illinois Institute of Technology earns a 92 ROI score despite a 75.2% completion rate that drags down an otherwise strong profile. The 2,833-student private school in Chicago charges $52,386 in tuition but averages $18,425 in net price after aid -- a significant discount. Median earnings reach $60,400 six years out and $82,592 at ten years, with a 4.5-year payback period. Computer Science and Computer Engineering are the dominant programs, both delivering starting salaries above $80K. The school's location in Chicago's Bronzeville neighborhood gives engineering students access to one of the largest corporate job markets in the Midwest. About 30% of students receive Pell grants. The 0.414 debt-to-earnings ratio is higher than elite engineering schools, reflecting the private school price tag even after aid. The 89.9% repayment rate at seven years is good. The completion rate concern is real -- nearly one in four students does not finish -- which suggests students should honestly assess their preparation before enrolling.
The median graduate earns $82,592 ten years after entry - well above the national median of roughly $55,000 for 4-year college graduates.
Illinois Institute of Technology
Quick Numbers
| In-state tuition + fees | $52,386/yr |
| Out-of-state tuition + fees | $52,386/yr |
| Average net price | $18,425/yr |
| Total 4-year cost (net) | $73,700 |
| Median earnings (10yr post-entry) | $82,592 |
| Median earnings (6yr post-entry) | $60,400 |
| Median debt at graduation | $25,000 |
| Estimated monthly loan payment | $265 |
| Estimated payback period | 4.5 years |
| 6-year graduation rate | 75.2% |
| Undergraduate enrollment | 2,833 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at Illinois Institute of Technology is $52,386/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $18,425/year, or roughly $73,700 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $12,964/year, while families earning over $110,000 pay $29,950/year.
The median graduate leaves with $25,000 in federal loan debt, translating to an estimated monthly payment of $265 on a standard 10-year repayment plan. Against median earnings of $82,592 ten years out, the debt-to-earnings ratio is 0.41 - well within manageable territory.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $12,964 |
| $30,001 - $48,000 | $13,415 |
| $48,001 - $75,000 | $17,217 |
| $75,001 - $110,000 | $21,858 |
| $110,001+ | $29,950 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families under $30,000 pay $12,964 per year at IIT -- over $51,000 for four years. This is higher than many public schools and higher than Pomona or Bowdoin charge their lowest-income students. IIT is a private school that does not have the endowment depth of elite institutions, and its financial aid for low-income students is correspondingly limited. Low-income students should run the net price calculator carefully and compare to in-state public engineering programs.
Middle-income families ($30K-$110K)
The 30-48k bracket pays $13,415 per year -- nearly flat with the lowest-income bracket, which is concerning. The 48-75k bracket pays $17,217, and the 75-110k bracket pays $21,858. The pricing slope is unusually flat, meaning IIT's aid does not drop off sharply as income rises. This benefits higher-income middle-class families but is less favorable for lower-income families who expect steep discounts. Middle-income families should compare IIT's $13-17K annual cost to public engineering alternatives.
Higher-income families ($110K+)
Families above $110,000 pay $29,950 per year -- well below sticker price of $52,386. The effective discount is large for high-income families. Given median 10-year earnings of $82,592 and a 4.5-year payback at average net price, IIT is defensible for high-income families who want a private engineering school in a major city at a reasonable out-of-pocket cost.
Earnings by Major
Top 10 most popular majors at Illinois Institute of Technology with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Computer Science | $120,953 | B+ |
| Architectural Sciences and Technology | $37,948 | D |
| Mechanical Engineering | $87,789 | B |
| Computer and Information Sciences | $97,153 | B |
| Civil Engineering | $87,884 | B |
| Electrical Engineering | $98,743 | B |
| Chemical Engineering | $84,876 | B |
| Computer Engineering | $114,930 | B+ |
| Aerospace, Aeronautical, and Astronautical/Space Engineering | $110,956 | B |
| Biomedical Engineering | $88,378 | C |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Computer Science
Computer Science is IIT's largest program at 103 graduates, with one-year median earnings of $86,005 and four-year median of $120,953. The debt-to-earnings ratio is 0.27 with a B+ grade. Chicago's dense technology employer landscape -- including financial technology, enterprise software, and trading firms -- absorbs IIT CS graduates at competitive starting salaries. The school's location in the city (rather than a suburban campus) gives students internship access. The $120K four-year median reflects advancement into senior roles at mid-size Chicago technology companies. The 0.27 debt ratio is workable but not excellent for a private school with $25,000 median borrowing.
Computer Engineering
Computer Engineering (29 graduates) shows $81,252 one-year earnings and $114,930 at four years, with a 0.326 debt-to-earnings ratio and a B+ grade. Computer engineering sits at the intersection of hardware and software, which is valuable in Chicago's fintech and manufacturing sectors. Graduates move into embedded systems, infrastructure, and networking roles. The four-year median of $114K is strong for a mid-size private engineering school. The 0.326 debt ratio is moderate -- borrowers are carrying about four months of annual salary in debt, which is manageable given the earnings trajectory.
Electrical Engineering
Electrical Engineering (30 graduates) shows $69,966 one-year earnings and $98,743 at four years, with a 0.364 debt-to-earnings ratio and a B grade. EE graduates from IIT find work in power systems, semiconductor design, and telecommunications. The Chicago metropolitan area hosts major employers in industrial manufacturing and power infrastructure. The four-year median approaching $99K is solid. The 0.364 debt ratio is higher than CS or Computer Engineering, reflecting the same borrowing against a somewhat lower starting salary. Long-run earnings for EE careers are typically strong, making the investment reasonable.
Mechanical Engineering
Mechanical Engineering (70 graduates) delivers $65,386 one-year earnings and $87,789 at four years, with a 0.413 debt-to-earnings ratio and a B grade. ME is IIT's second-largest program. Chicago's manufacturing base, including aerospace suppliers and industrial equipment makers, creates steady demand for mechanical engineers. The starting salary near $65K is lower than CS but still respectable. The 0.413 debt ratio means graduates are carrying close to five months of annual salary in debt -- manageable but requiring budget discipline. Four-year earnings near $88K reflect solid progression.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 84.9% | 52.0% |
| 3-year repayment | 89.9% | 62.0% |
| 5-year repayment | 84.8% | 68.0% |
| 7-year repayment | 87.6% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 54.9% |
| SAT Math (25th-75th) | 590-720 |
| SAT Reading (25th-75th) | 590-720 |
| ACT Composite (25th-75th) | 26-32 |
| Enrollment | 2,833 |
| Pell Grant recipients | 30.0% |
| Avg faculty salary (monthly) | $12,710 |
At 54.9% admission rate, IIT is moderately selective. The wide SAT/ACT range (590-720 Math, 26-32 ACT) means admitted students vary significantly in preparation. Students in the lower end of the range face real completion risk in engineering programs.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
IIT's listed peers include Stevens Institute of Technology (a comparable private engineering school). Stevens typically shows strong earnings in New York City proximity. Among engineering-focused privates in major cities, IIT competes on price advantage relative to schools like Drexel or Northeastern. The 0.414 debt-to-earnings ratio is in the middle of the pack for mid-tier engineering schools. IIT's completion rate (75.2%) is the main concern -- peers like Stevens typically show higher retention. If a student is not confident they will finish, the debt at a 75% completion school creates real risk: students who leave with partial credit and full debt.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| Illinois Institute of Technology (this school) | 92 | $18,425 | $82,592 |
| Stevens Institute of Technology | 92 | $41,346 | $108,772 |
| Milwaukee School of Engineering | 89 | $22,453 | $89,070 |
| University of Tulsa | 83 | $15,000 | $61,408 |
| Augustana College | 67 | $22,736 | $62,971 |
| School of the Art Institute of Chicago | 21 | $49,790 | $40,151 |
Who Thrives Here
Admitted students at IIT show SAT 590-720 (Math) and 590-720 (Reading), ACT 26-32 -- a wide spread reflecting a mixed academic profile. About 30% of students receive Pell grants. Students who succeed here are engineering-focused and willing to put in hard technical coursework. Architecture at IIT (Mies van der Rohe was a founding figure) has a distinct reputation but shows weaker ROI. Engineering, CS, and Computer Engineering are the best-ROI paths.
The Verdict: The Investment Pays Off
Illinois Institute of Technology is one of the strongest financial investments in higher education. With a total 4-year net cost of $73,700 and median graduate earnings of $82,592 ten years out, the math works decisively in graduates' favor. The estimated payback period of 4.5 years is well below average.
The data highlights several strengths: strong earnings premium over high school graduates, a 75.2% graduation rate, manageable debt relative to earnings, high loan repayment success.
Median debt of $25,000 against $82,592 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.