Illinois Institute of Technology
Chicago, IL10 West 35th Street, Chicago, IL 60616
312-567-3000
Illinois Institute of Technology (IIT) is a private research university in Chicago, Illinois. Founded in 1890, it is the second oldest institute of technology in the United States. IIT is a highly ranked engineering school and is especially well known for its architecture, computing, and engineering programs.
IIT was founded as the Armour Institute of Technology in 1890. The school was established with a donation from Philip Danforth Armour, Sr., a Chicago businessman and philanthropist. The Armour Institute was initially focused on providing education in the fields of science and engineering.
In 1940, the school was renamed the Illinois Institute of Technology to reflect its expanded focus on technology. The school began to grow rapidly in the postwar years, adding new programs and facilities.
Today, IIT is a comprehensive university with six colleges and institutes. The university offers undergraduate and graduate degrees in a wide range of fields, including architecture, business, computing, engineering, humanities, science, and law.
IIT is a member of the Association of Independent Technological Universities. The university is also a research partner of the Argonne National Laboratory, a U.S. Department of Energy facility.
IIT is a highly selective university, with an acceptance rate of just over 30%. The university has an enrollment of about 5,800 students, of whom about one-third are international students.
IIT's campus is located on the southwest side of Chicago, in the Bronzeville neighborhood. The campus covers more than 150 acres and includes several historic buildings.
IIT is accredited by the Higher Learning Commission. The university's engineering programs are accredited by the Accreditation Board for Engineering and Technology.
Quick Facts
Enrollment: 6325
Acceptance Rate: 60.66%
Type: Private not-for-profit, 4-year or above
Main Website: https://web.iit.edu/
Financial Aid: https://web.iit.edu/financial-aid
Annual Costs
Total Cost In-State On-Campus: $70908
Total Cost Out-State On-Campus: $70908
Return on Investment Rating
The estimated cost for four years as an undergraduate at Illinois Institute of Technology is $253937.67. This includes the average cost of attendance for four years plus the interest on the average loan over a ten year repayment minus the average of grants and scholarships per student.
We then contrast this figure with average early-career and mid-career average incomes of graduates of four year programs at Illinois Institute of Technology. For graduates of Illinois Institute of Technology, we saw an average early-career income of $70300.00 and mid-career income of $127000.00. We then ranked the school's value based on how many years of mid-career income it takes to repay the educational costs.