What Does It Cost to Attend Bates College?
The cost of college is climbing, a fact that is particularly amplified when looking at high-quality private institutions such as Bates College in Lewiston, Maine. According to the Association of Public and Land-Grant Universities, the average published price of in-state tuition and fees at public four-year universities in 2018-2019 is $10,230 per year and $35,830 per year at four-year, private nonprofit universities. In comparison, Bates—a private nonprofit college—features a list price approximately double the average price of similarly structured institutions.
Although the list price of Bates College can be jaw-dropping, most students attending Bates will not pay full price. The expense of college is highly variable and the majority of students receive some assistance in covering the cost from federal, state, and local aid, as well as aid from the college itself, and with merit scholarships.
Preferable to looking at the list price of a college is to use net price. Net price considers any financial aid a student may have received via grants and scholarships and subtracts them from the list price of a college, giving prospective students a much better understanding of what they can expect to pay for college.
What is the List Price at Bates College?
The list price for Bates College is $66,550 for both in- and out-of-state students. This price includes tuition, room, and board. Keep in mind that most students will not pay the list price. Typically, students who pay full price at Bates are from affluent families with annual incomes greater than $175,000 who were outside of the top third academically of accepted students.
What is the Bates College Financial Aid Net Price?
At $56,000, the financial aid net price of Bates is roughly $10,000 less than its listed price. Financial aid net price is calculated by taking any financial aid awarded through grants and scholarships to a student and deducting them from the college’s published price.
What is the Family Income-Based Cost of Attending Bates College?
The cost of attending Bates College differs based on a student’s family income. The school’s commitment to being accessible and affordable to students regardless of financial circumstances is clearly on display when analyzing the average net price of the college based on family income. Just take a look at the average net prices for a Bates education based on family income level:
|Average Net Price
How Much Merit Aid do Bates Students Receive?
Bates College does not provide any merit or athletic financial aid. In the spirit of the school’s founders to provide an education that is open to all—ensuring that future leaders and problem-solvers emerge from every walk of life and are able to collaborate with people representing diverse cultures and viewpoints—Bates’ entire financial aid budget goes to students in need of financial support.
How Many Bates College Students Take Out Loans?
To afford the high cost of Bates College, many students incorporate loans into their financial strategy. Just over half (52%) of Bates students borrow money with the average federal student loan amounting to $2,509 over the course of four years.
Student Outcomes at Bates College
Student outcome is an important consideration when comparing colleges and is a place where Bates excels. The six-year graduation rate at Bates is 87%, meaning that students are likely to complete their degree on time and avoid spending costly extra years at college. The average salary for students 10 years after graduation is $59,200, far surpassing the $21,668 average a typical Lewiston resident earns a year.
Local Area Cost Considerations
Lewiston, Maine, is affordable by the national standard and an outright bargain for a New England city. According to Sperling’s Best Places, Lewiston’s cost of living index—a general measurement of the overall expense of living in a particular location incorporating factors like housing, transportation, utilities, etc.—is 90.6. For comparison, the national cost of living average is 100, the state of Maine’s is 104.7, and Portland’s (Maine’s largest city) is 116.2.
Average Apartment Costs
Bates is a residential college and all students are encouraged to live on campus all four years. Roughly 95% of students live on campus in either a residence hall or one of Bates’ 20+ houses. However, some Bates students do choose to live off campus. Off-campus living is restricted to rising seniors and capped at 125 students.
Students who are able to live off campus will find apartments on average rent for less than both the state and national average. The average cost of a one bedroom apartment in the Lewiston area is $710 while two- and three-bedroom apartments on average rent for $910 and $1,400 a month.
The minimum wage in Maine is $11 an hour, making it one of 29 states with a minimum wage topping the federally mandated $7.25. Downtown Lewiston is home to numerous restaurants, pubs, and shops which afford plenty of opportunity for students wishing to work part-time jobs. According to Indeed, servers in Maine average $12.33 an hour, bartenders earn $11.87, and retail associates earn $12.24.
Other Ways to Save During College
Student employment is a popular way for Bates students to earn extra money and cover costs while at college. Student employment is open to all Bates students, whether or not they’re eligible for financial aid. A Bates student working between 8 and 10 hours a week can plan on earning between $1,700 and $2,000 during an academic year. The Bates Student Employment Office maintains a job board to help students secure work.
Although Bates does not award any merit aid, the college maintains a generous outside scholarship policy and encourages students to seek out and apply these rewards. Bates will not reduce a student’s grant package as the result of an outside award, with the exception being if a combination of all the student’s aid surpassed the student’s calculated cost of attendance.
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