Timothy Peck 4 min read Financial Aid

What Does it Cost to Attend Carleton College?

There are many factors that go into choosing a college, including majors offered, location, campus life, and quality of education (to name just a few). However, there is one factor that seems to loom above the rest: price. When comparing the published prices of colleges, the enormity of your decision quickly becomes apparent.

 

While the list price of a top-notch institution such as Carleton College can be a shock, the truth is that most students do not pay that price.When comparing colleges, students are better served by looking at the net cost as opposed to the list price. Net cost provides a more accurate representation of the real cost of college, as it factors in government aid (federal, state, and local), financial aid, and merit scholarships—these are all subtracted from a college’s list price.

 

Keep reading to learn more about the real cost of attending Carleton College, as well as to gain insight into other financial factors affecting Carleton students.

 

What is the List Price at Carleton College?

 

The list price of tuition, room, and board at Carleton College is $66,490 for both in- and out-of-state students. The majority of students will not pay full price, however, when all is said and done. The average student paying full price at Carleton comes from a family with an income greater than $175,000 a year, or is not in the top 30% of the accepted class. The average cost of Carleton College for a student who doesn’t qualify for financial aid is $66,371—roughly the published price.

 

What is the Financial Aid Net Price of Carleton College?

 

The average student attending Carleton pays approximately $10,000 less than list price, as the average net cost with financial aid is $55,719. The amount of financial aid varies by student, with the student’s family income being a determining factor. Below is the average cost of Carleton College based on family income:

 

Family Income Average Net Price
$0-$30,000 $12,207
$30,001-$48,000 $13,473
$48,001-$75,000 $14,682
$75,001-$110,000 $22,941
$110,000 $38,398

Want to know your real chances of admission?

Estimating your chance of getting into a college is not easy in today’s competitive environment. Thankfully, with our state-of-the-art software and data, we can analyze your academic and extracurricular profile and estimate your chances. Our profile analysis tool can also help you identify the improvement you need to make to enter your dream school.

 

What is Merit Aid Net Price of Carleton College?

 

Merit aid is a scholarship given to students for accomplishments both in and out of the classroom. Merit aid net price is the published price of college minus any awarded merit scholarships. 6.3% of students at Carleton College without the need for financial aid receive merit aid, with the average amount being $119.

 

Out of a pool of over 1,000 schools, Carleton College ranked 896th in merit aid generosity, according to our research.

 

How Many Students Take Out Loans to Attend Carleton College?

 

Many students in the U.S. take out student loans to pay for college, and students at Carleton are no exception. 70% of matriculated students have a student loan with the average federal student loan per undergraduate student being $2,885 across all four years.

 

Student Outcomes at Carleton College

 

As you would expect from an excellent institution like Carleton College, the graduation rate is high—91% of students graduate within six years. Carleton also returns on the time and money invested there, as the average salary of a student 10 years after graduation is $54,200.

 

Local Area Cost of Living Considerations

 

Northfield, Minnesota, home of Carleton College, has a cost of living index of 111.8—making it 11.8% more expensive than both the average city in Minnesota (106.3), as well as the country as a whole (100).

Average Apartment Rental

 

Carleton College believes students are members of a community, and being on campus is important to foster that community. Because of this, 96% of students live on campus. Each year, a limited number of seniors—the number varies depending on the college’s occupancy—are allowed to take the “Northfield Option” and live off campus.

 

Students taking the Northfield Option will find the average cost of a one-bedroom apartment is $780 a month, while two bedrooms go for $990. Students should be prepared for some fluctuation in these prices due to factors such as apartment size, condition, and proximity to campus.

 

Wages

 

The minimum wage in Minnesota is $9.86 an hour, but students can expect to make more than this at a part-time job in one of Northfield’s thriving restaurants. The average server in Northfield earns $11.86 an hour while bartenders earn $11.65 per hour.

 

Other Ways to Help Fund a College Education

 

One way to help cover the expense of attending Carleton College is by participating in their community-based work program—Carleton’s version of a work-study program. Building a bridge between the local community and the college, students participating in the community-based work program are given off-campus jobs in the interest of the community.

 

Northfield students can also participate in the Northfield Reads and Counts Program. In this program, qualifying federal work-study students give one-on-one support to Northfield public school students in need of extra.

 

Students in search of a simple part-time job will find that the vibrant downtown offers numerous retail and restaurant positions. Part-time jobs are an excellent way for students to pay for the day-to-day expenses they incur and help prevent accruing extra debt while pursuing their degree.

 

College is a big expense—costing a lot of time and money—but our College Application Program can help you save both. Work one-on-one with one of our advisors to find out your odds of being accepted into Carleton College and get help managing the numerous deadlines and to-dos of the application process. Our College Application Program also gains you access to our Finances Tool, allowing you to get a clear idea of the cost of college and develop a sound strategy for covering the bill.

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Timothy Peck
Blogger at CollegeVine
Short bio
A graduate of Northeastern University with a degree in English, Tim Peck currently lives in Concord, New Hampshire, where he balances a freelance writing career with the needs of his two Australian Shepherds to play outside.