What does it cost to attend Bryn Mawr College?
Located just 11 miles outside Philadelphia, Pennsylvania, Bryn Mawr College’s suburban campus has attracted some of the best and brightest female students in the nation for more than 130 years and is ranked in the top 30 in U.S. News for Liberal Arts Colleges nationally.
Bryn Mawr is consistently ranked among the country’s 10 best colleges and universities in the percentage of graduates who go on to earn a Ph.D.—making it an ideal environment for women preparing to enter top advanced degree programs in law, medicine, business and more. In addition to sending alumni to the U.S.’s top graduate schools, Bryn Mawr was the first women’s college to offer graduate education through the Ph.D.
When looking at colleges, Bryn Mawr’s rich history and reputation for academic excellence are sure to raise eyebrows; another attention-grabbing characteristic about Bryn Mawr is undoubtedly its cost. But before panic sets in over the price, know that the majority of college students do not pay full price.
Why College Costs are Highly Variable
When comparing the cost of colleges, it’s natural to use the published price of a university. However, only a small minority of students actually pay that price. Net cost is the preferred metric to use when trying to understand what college will really cost.
Net cost takes into consideration any federal, state, and local government aid a student has received, aid provided by the institution, and any private scholarships a student has received—deducting them from the list price to get a more accurate idea of what a student can expect to pay for college out of pocket.
Bryn Mawr College’s List Price
List price, also sometimes called cost of attendance, is an institution’s stated price for tuition, room, and board. In 2016-2017, the list price for Bryn Mawr College was $66,160 for both in- and out-of-state students. While list price is a good starting point for getting a feel for the expected cost of college, as mentioned before, most students do not end up paying this price.
Students who do pay Bryn Mawr’s full price are typically from affluent families with annual incomes of more than $175,000 who fall outside of the top-third of accepted students academically.
What is the Cost of Bryn Mawr with Financial Aid?
Financial aid net price is the cost of an institution after subtracting any need-based and merit-based aid awarded to a student via grants and scholarships. The average price of Bryn Mawr after accounting for grants and scholarships for in- and out-of-state students is $57,767.
Cost Based on Household Income
The amount of need-based financial aid a student receives correlates with the economic situation of the student’s family. Typically, the less financial means a student has, the more the cost of college is reduced. To give you an idea of what to expect to pay for Bryn Mawr, here are the average net prices for a student based on household income:
|Family Income||Average Net Price|
What is the Merit Aid Net Price? What is the Average Net Price for Students Without Need?
Merit aid is awarded for skill and accomplishments—and, in many cases, doesn’t factor in the financial situation of a student—in a variety of fields and is commonly given to students for academic prowess, athletic talent, and artistic aptitude. The merit aid net price of a college is the list price of the institution minus any merit-based aid received by a student.
32% of Bryn Mawr students without financial need receive merit aid, with the average amount awarded to students without need being $6,347. Consequently, the average price of Bryn Mawr for in- and out-of-state students who don’t qualify for financial aid is $59,813.
In a CollegeVine ranking of over 1,000 schools for merit aid generosity, Bryn Mawr College placed 493rd.
Student Loans and Debt
Even with need-based and merit aid, many students will still require loans to pay for college. 33% of Bryn Mawr College students have loans, with the total federal student loan per Bryn Mawr undergraduate averaging $3,842. Keep in mind, many students will also take out private student loans or have parents borrow on their behalf to pay for college.
Student outcomes are an effective way to judge an institution’s return on investment. 82% of Bryn Mawr students graduate within six years, and the average salary of Bryn Mawr alumni ten years after graduation is $54,600.
Local Cost of Living Considerations
Tuition, room, and board are responsible for the bulk of college costs—and the expense of attending school in a particular area can further affect the expense. Bryn Mawr, Pennsylvania, has a cost of living index of 169.2—meaning it’s 69.2% more expensive to live there than the average U.S. town or city.
Bryn Mawr is a residential school and expects its students to live on campus throughout their four years at the college. However, a small number of students (primarily seniors) are approved to live off campus each year.
Those students able to live off campus will discover that housing is the primary factor driving up Bryn Mawr’s cost of living—according to Sperling’s Best Places, housing is more than 200% more expensive here than the national average. Apartments in the area range from $960 for a studio to $1,670 for a three-bedroom apartment.
One way students can reduce the cost of college is by having a part-time job. Pennsylvania’s minimum wage is in line with the federal minimum wage of $7.25. Bryn Mawr’s Career and Professional Development Office maintains part-time and temporary job postings from the local and Philadelphia communities. In Philadelphia, common college-student jobs commonly pay above the minimum wage—the job website Indeed reports that retail associates make $11.63 an hour on average while cashiers earn an average of $15.43.
Other Ways to Save
In addition to a part-time job, one of the best ways students can minimize the cost of college is by applying for as many scholarships as possible. Scholarships are often awarded for merit or skill in a field such as academics, athletics, and art, but also for activities like community leadership and activism. Unlike loans, scholarships are a gift and do not need to be paid back. Here are a few scholarships Bryn Mawr bound students should look into.
All Bryn Mawr College undergraduates, with the exception of international students, qualify for the Bryn Mawr Merit Scholarship or the Bryn Mawr Presidential Scholarship regardless of financial need. No additional application is required to be considered for these awards and recipients are chosen based on their academic performance, community involvement, and potential to contribute to the college’s community, among other factors.
Students coming to Bryn Mawr College from the Boston, Massachusetts, or Houston, Texas, areas are eligible for a Bryn Mawr Posse Scholarship, established to recruit and train leaders from public schools to form young, talented, multicultural groups to effect change in the community. Bryn Mawr Posse Scholarship recipients are selected by the Bryn Mawr College and the Posse Foundation.
Aside from the aforementioned institutional scholarships, private scholarships offer an excellent opportunity for students to earn monetary awards for college. One such scholarship is the National Merit Scholarship, which is awarded to students who score highly on the PSAT/NMSQT. Each year, roughly 16,000 students qualify for this prestigious scholarship and about 7,500 winners are selected. Even if a student doesn’t win a National Merit Scholarship, just being considered can open the door to other private scholarships.
Preparing for college is an exciting time and financial stress shouldn’t dampen the enthusiasm. Our College Application Program can help parents and students understand the real cost of college, formulate a plan for paying for college, and can even help project outcomes such as student earnings and post-college debt. Another way CollegeVine can help ease the cost of college is through scholarships—helping students research available scholarships and advising them on how to win large awards.
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