What Does it Cost to Attend Endicott College?
Set on Massachusetts’ beautiful north shore in the town of Beverly, just 20 miles outside of Boston, lies Endicott College. Known for its picturesque campus, low teacher-to-student ratio, and its ability to successfully place graduates in the workforce, there is another thing about Endicott that sticks out when looking at colleges: its cost.
If Endicott College is on your high schooler’s list of colleges and you’re trying to better understand what it’s going to cost, keep reading—we’ll show you how to calculate the cost of college and share some ideas for reducing the expense of higher education.
Why College Costs are Highly Variable
Learning the cost of an institution like Endicott College seems easy, after all, one can simply look up its list price on their website. While this method is good for gaining a baseline idea of the cost of a particular institution, it does not provide an accurate representation of what a student can actually expect to pay for school. In fact, the majority of students do not pay that “sticker price” for college.
Net price is a much better metric for understanding what a college education will really cost. Net cost takes into account any federal, state, or local government aid, institutional aid, and merit scholarships awarded to a student and deducts them from the published price of the institution to provide a more accurate representation of what a student will really pay for school.
Endicott College’s List Price
List price—sometimes called cost of attendance—is an institution’s stated cost of tuition, room, and board. The list price of Endicott College in 2016-2017 was $49,136. Because Endicott is a private institution, the cost is the same for both in-state and out-of-state students.
Before sticker shock over the roughly $50,000 price tag of Endicott sets in, keep in mind that most students pay less than that price. Commonly, students who pay full price at Endicott are from well-off families with annual incomes over $175,000 who fall outside of the top 30% of accepted students academically.
What is Endicott College’s Price with Financial Aid?
The financial aid net cost of a college is tabulated by subtracting any need-based aid awarded to a student—via scholarships and grants—from an institution’s list price. The average net cost with financial aid at Endicott College is $44,732 for both in- and out-of-state students.
Endicott College’s Cost Based on Household Income
The income level of a student’s family is one of the primary factors when determining how much college will cost. Typically, the higher the income level of a student’s family, the closer they will come to paying the full price of a college or university. Here’s a breakdown of what a student could expect to pay at Endicott 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 to students, regardless of financial need, for everything from academic excellence to community service. The merit aid net price of a school is calculated by subtracting the amount of merit aid awarded through scholarships from the list price of the institution.
Endicott College ranked in the middle of the pack in a CollegeVine survey of over 1,000 schools for merit generosity, placing 459th. 77.9% of Endicott students without financial need receive merit aid, with $7,288 being the average amount awarded—bringing the average net price of Endicott College for a student who doesn’t qualify for financial aid to $41,848.
Student Loans and Debt at Endicott College
Even with need-based and merit-based aid, many students turn to loans to cover part of the expense of college. 59% of Endicott undergraduate take out loans, with the amount borrowed via federal student loans averaging $6,310.
Student Outcomes at Endicott College
Student outcomes are useful for predicting if a student will graduate—and whether they will graduate in a timely manner—and a graduate’s future earning potential. Endicott graduates 79% of its students within six years, and the average salary of Endicott alumni ten years after graduation is $51,1000—both of which are higher than the national averages.
Local Cost of Living Index
The cost of the area a college is located in can have an effect on the overall cost of an institution. The cost of living index (a number used to gauge the expense of a particular area) in Beverly, Massachusetts, is 145.5—making it slightly more expensive than the state’s average city or town (139) and considerably more than the national average (100).
Room and Board
Endicott College is a residential school which believes in the benefits of students learning and living together—more than 90% of Endicott students live on campus. Freshmen are required to live on campus, but other students may decide that off-campus residency is for them. Those students will find housing costs are one of the main drivers of Beverly’s higher cost of living. This is what students can expect to pay to rent an apartment in Beverly:
- One bedroom: $1,400
- Two bedrooms: $1,700
- Three bedrooms: $2,130
Comparatively, the cost of housing at Endicott ranges between $9,294 a year for a traditional room to $15,000 for a townhouse. The college’s max meal plan, which includes 19 meals a week plus 10 guest meals, is $4,866 a year. Learn about all Endicott’s room and board options on their website before making a decision about what living situation is right for your student.
At $12 an hour, Massachusetts has one of the highest minimum wages in the nation. However, even students earning more than $12 an hour will have to work a lot of hours to afford Beverly rents. Students looking to work part-time jobs to cover incidental costs will find the city and its surrounding communities offer an abundance of employment opportunities.
In addition to off-campus employment, Endicott College does have offer a limited amount of positions on campus for students who don’t qualify for the Federal Work-Study Program. Students can learn more about these jobs at MyEndicott.
Other Ways to Save
Students are automatically considered for a handful of merit-based scholarships like the Endicott Presidential Academic, Presidential Art, and Health Sciences Scholarships when they apply to Endicott. Students can learn more about the diverse institutional scholarships available on the Endicott Grants and Scholarships webpage.
Endicott College encourages students to look for outside scholarships in addition to institutional awards. Endicott maintains a Scholarship Resource page on its website to help students learn about, and apply for, awards outside of the institution. One private scholarship that college-bound students should investigate is the National Merit Award, which is given to roughly 7,500 students per year who score in the top percentile on the PSAT/NMSQT. Interested in learning more about this prestigious scholarship? If so, read our article How to Qualify for the National Merit Scholarship Program.
If your family is beginning to prepare for college but struggling to calculate what college will really cost, or simply want someone to help guide you through the economics of higher education, CollegeVine can help. Our College Application Program can help students better understand an institution’s projected return on investment and the expected debt they’ll owe upon graduating. We can even help students discover and win additional scholarships to help them minimize the overall expense of their education. Contact us today to learn more!
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