What Does It Cost to Attend Fairfield University?
Many students are attracted to Fairfield University due to its beautiful campus. Located on Connecticut’s picturesque coastline, the school draws attention for its picturesque stone buildings and endless stretches of green lawn. Still, Fairfield is a lot more than a pretty face. In fact, the university holds the No.1 spot on U.S. News & World Report’s list of the best Northern Region Colleges for 2019.
If you’re interested in attending school at Fairfield, it’s important not to let the high tuition price dissuade you. The good news is that the financial aid net price (or actual cost) of attending Fairfield is often significantly lower than the sticker cost. Keep reading to discover the true cost of attending this Connecticut university.
Why College Costs Are Highly Variable
Just because Fairfield University is a private school that doesn’t mean the cost of attendance is certain to be more expensive than that of a public college. Because private schools tend to boast larger endowments than public ones, they have more funding to give out in the form of grants and scholarships. As a result, students often end up paying less than the list price.
It’s also worth noting that a school’s list price tends to be higher than its actual cost, or financial aid net price. You can determine the net price of a given school by adding up the value of all types of aid, including grants, scholarships, and institutional funds, and subtracting it from the sticker value.
What Is the List Price at Fairfield University?
Fairfield University is known for charging a high price for tuition and fees. For the 2016-2017 academic year, the list price at this institution was $62,740 for both in and out-of-state students. Students in the top 30% of attendees and those from families earning less than $175,000 a year, however, were unlikely to pay the full list price to attend school.
What Is the Fairfield University Financial Aid Net Price?
The financial aid price for attending Fairfield University is significantly lower than the list price. For the 2016-2017 school year, the cost for tuition and fees was $55,237.
What Is the Family Income-Based Cost of Attending Fairfield University?
The price tag for a Fairfield University degree depends in large part on a family’s combined income. View average net prices based on student income level below:
|Family Income||Average Net Price|
*The numbers above don’t account for federal Pell Grants which some families will receive.
How Much Merit Aid Do Fairfield Students Receive?
One of the perks of applying to Fairfield University is that the school offers a significant amount of funding in the form of merit-based aid. Currently, 78.6% of students receive merit aid, with an average award of $11,659. For students who don’t qualify for financial aid, the average cost of attending Fairfield was $51,081.
According to CollegeVine’s study on merit aid generosity, Fairfield ranked 299 out of the 1000 surveyed schools.
How Many Fairfield University Students Take Out Loans?
Almost all Fairfield students take out loans to finance their degrees. Currently, the university has a student borrower rate of 93% with an average federal loan per undergrad of $5,823.
Student Outcomes at Fairfield University
Considering average student outcomes at Fairfield University can help families determine whether the school offers a good return on their tuition dollars. With Fairfield boasting an average six-year graduation rate of 81%, students have a solid chance of graduating on time. Ten years out, the average Fairfield graduate was earning an impressive $72,100 a year.
Local Area Cost Considerations
While a Fairfield University degree can open numerous doors, students will pay a high price for attendance. Located in Fairfield, Conn., this school has a cost of living index of 171.9, meaning it’s about 70% more expensive than the average U.S. city. In particular, students who live off campus will face hefty rent bills; expect to pay $1516 for a one-bedroom, $1900 for a two-bedroom, and $2410 for a three-bed space.
Working part-time can help reduce college costs. Because Connecticut has a minimum wage of just $10.10, students may have to pick up extra hours to make ends meet. For students who remain in Connecticut after graduation, the average annual salary is $57,725.
Ways to Save Money on College
Students who hope to earn extra cash for college may want to consider pursuing a work-study opportunity on the Fairfield University campus. Unlike traditional part-time jobs, these positions usually afford students plenty of time for reading and doing homework while earning a paycheck.
Additionally, Fairfield students should take advantage of independent scholarship opportunities. High PSAT scorers may want to apply to the National Merit Scholarship program, which offers grant money to the top 1 percent of test takers. Around 15,000 students a year become finalists with the potential to benefit from this scholarship fund. You can discover additional scholarship options on the Fairfield University website.
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