What Does it Cost to Attend Haverford College?

Figuring out how much college costs is trickier than one might think. While running a simple search on a college’s list price is a good jumping off point, it doesn’t actually paint an accurate picture of the price most families will end up paying for at any given college.

In fact, few attendees end up paying the majority of a college’s list price, let alone the full amount. So, what you want to look at instead is net cost: what do most families pay out of pocket, loans included? Net cost also takes into account federal/state/local government aid, institutional financial aid, and merit scholarships, subtracting these from the total amount.

But how do these numbers look for Haverford, a small liberal arts college in Haverford, Pennsylvania? If you’re looking for a better sense of how the list price and net cost compare to the actual price tag on Haverford, read on!

What is Haverford’s List Price?

Because Haverford is a private college, it offers the same list price—or cost of tuition, housing, and accommodations combined—regardless of whether a student is in-state or out-of-state. While that means hailing from Pennsylvania won’t cut you a break on the bottom line, it is one less factor to have to consider. So, what is Haverford’s list price and who pays it?

From 2016 to 2017, Haverford published a steep $69,387 as its full price. However, this price generally only applies to families with an income exceeding $175,000 per year.

What is the Price With Financial Aid?

If your family is not in the category described above, it is highly unlikely that you’ll end up paying the list price. In this case, the most important factor in your child’s price tag is going to be financial aid. This is reflected in a college’s average net price, or the list price minus the average financial aid award. In the case of Haverford, the average net price of students receiving financial aid is $57,979.

While this is already a narrower estimate of price, the average net price is still not entirely accurate. To give you a better idea of what price to expect, we’ve broken the average net price down by income bracket.

*Haverford actually offers more aid on average to students in the $48-75k range than in the $30-48K range.

What is the Merit Aid Net Price?

Unfortunately, Haverford does not offer merit aid to students without demonstrated financial need. Haverford is a very small, selective school, so attendees should not expect to receive merit awards when granted admission. Given the rarity of merit awards, Haverford ranks 939th in a pool of over 1,000 schools we ranked for merit aid generosity.

How Many Students Take Out Loans at Haverford?

If you feel that scholarships and financial aid will not be enough to meet your student’s price tag, another popular option for college students is to take out loans. In fact, 64% of Haverford students decide to take out loans for an average federal credit of $2,557 per undergraduate.

Local Area Cost Considerations in Haverford

Haverford, Pennsylvania, ranking as one of Pennsylvania’s top 10 small cities, is by all accounts a wonderful suburb in which to go to college. That being said, this location comes at a price. Haverford’s cost of living index almost double that of Pennsylvania or the U.S. as a whole at 192.6.

The bulk of this can be credited to the area’s housing prices, which get an individual index of 386.7, 4.5 times higher than Pennsylvania’s average. As an example, a one-bedroom rental off-campus can run about $1,300 or more, although most students opt to stay on campus for all four years.

While students should not bank on making more than minimum wage, Haverford’s average wage may help to offset some of the cost of living. With a mean hourly wage of $23.44, Haverford exceeds Pennsylvania’s $7.25 minimum wage by a long shot.

What Do Student Outcomes Look Like At Harvard?

Ultimately, going to college is an investment in your child’s future. In the case of Haverford College, this investment tends to pay off, a prospect that mitigates the relatively higher rates. 90% of Haverford undergraduate will graduate the college within six years, as compared to a national average of 60%. Ten years down the line, salary prospects are a projected $60,700, $10,000 higher than the national average.

What Are Other Ways to Save on College?

If you’re still looking for ways to save on your child’s education, you may want to look into scholarships. Scholarships come in a range of sizes, from covering the price of a few textbooks to handling the full cost of tuition. They are also offered for a variety of topics and with applications that vary widely in difficulty. Some tend to be very competitive, so we recommend having your student apply to as many as possible to bolster their chances.

It is also important to familiarize yourself with Haverford’s policy on outside aid. For example, it may be used to offset the external funding component of financial aid. To read more about Haverford’s unique policies, read their page on outside aid.

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