April Maguire 4 min read College Lists, Financial Aid

What Does It Cost to Attend Occidental College?

If your student is set on earning a liberal arts degree in California, LA’s Occidental College may be the ideal choice. After all, students in Los Angeles have access to everything the city has to offer, including a vibrant theater scene, exciting arts community, and the juggernaut that is Hollywood. In fact, Oxy boasts that its students spend as much time in the field (be it a lab, studio, or theater) as they do in the classroom.

 

With so much to recommend it, Occidental College’s high list price likely comes as no surprise. However, prospective students should note that many Oxy attendees pay less than the sticker rate to attend this institution. Read on to discover what it really costs to go to Occidental College.

 

Why College Costs Are Highly Variable

 

The good news is that the actual price of attending Occidental College is often significantly lower than the list price. To determine the financial aid net price of an institution, start by adding up the value of all types of financial aid, including government aid (federal, state, and local), institutional grants, and merit scholarships. Subtract the total from the school’s sticker price.

 

Because Occidental College is a private institution, families might worry that the cost of admission is too high compared to a public college. However, it’s worth noting that private schools tend to have more funding available thanks to their large endowments. As a result, the cost of attending a private college may wind up being similar to that of going to a public university.

 

What Is the List Price at Occidental College?

 

Occidental College’s list price is on the high end. For the 2016-2017 school year, the combined price for tuition plus room and board was $69,442. That being said, usually only students whose families earn over $175,000 a year pay the full list price at most schools.

 

What Is the  Occidental College Financial Aid Net Price?

 

Fortunately, the actual cost of attending Occidental is significantly lower than the sticker price. For 2016-2017, the financial aid net price was $58,986. This is the sticker price minus any need-based financial aid.

 

What Is the Family Income-Based Cost of Attending  Occidental College?

 

The price a student pays to attend Occidental College is largely dependent on family salary. Below are average rates per student income bracket:

 

Family Income Average Net Price
$0-$30,000 $11,547
$30,001-$48,000 $15,258
$48,001-$75,000 $17,877
$75,001-$110,000 $28,448
$110,000 $44,977

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How Much Merit Aid Do Occidental Students Receive?

 

It’s worth noting that only around a quarter of Occidental College students receive merit-based aid to attend this school. With an average award amount of $2,994, Occidental ranks 626 out of the 1000 schools CollegeVine analyzed for merit aid generosity. For students who didn’t qualify for financial aid, the average price was $66,448 after merit aid.

 

How Many Occidental College Students Take Out Loans?

 

Occidental College’s high list price helps explain why a large percentage of students take out loans to pay for school. Currently, 57% of Occidental attendees borrow money, with an average federal loan per undergraduate of $4,391 over four years.

 

Student Outcomes at Occidental College

 

If you’re wondering whether Occidental College is a good choice for your family, it pays to consider student outcomes. Because Occidental has a six-year graduation rate of 81%, students can feel relatively confident that they will finish school on time. A decade after graduation, the average Occidental student was earning $50,600 per year. Keep these figures in mind when assessing whether the school offers a solid return on investment.

 

Local Area Cost Considerations

 

Occidental College is an expensive place to attend school. Because the institution is located in Los Angeles, students should expect to pay a high price for housing and other expenses. Plan on paying $1545 for a one-bedroom apartment, $1999 for a two-bedroom, and $2681 for a three-bedroom space.

 

It’s worth noting that LA has a cost of living index of 195.1, which is almost twice the national average. As a result, many students work part-time to finance their education. LA has a minimum wage of $14.25 per hour though, which is significantly higher than the national minimum of $7.25 and the state minimum of $12. Furthermore, LA grads who stay in the city after school can expect to earn $62,704 per year on average.

 

Ways to Save Money on College

 

Working while attending school is a great way to avoid taking out loans. Students can consider applying for work-study positions to save time on commuting. Located on campus, these jobs usually include time for students to read and study while earning extra cash.

 

If your student would rather focus on your studies than an after-school job, winning independent scholarships can help pay the bills. For example, the National Merit Scholarship program offers recognition and grant money to the top 1 percent of PSAT scorers. Approximately 15,000 students a year benefit from this program. You can also discover more Occidental College scholarship opportunities on the school website.

 

Don’t let the list price of a college or university put your high schooler off from applying. Created to support families throughout the college admissions process, the CollegeVine Applications Team helps families qualify for financial aid and negotiate scholarship offers. Additionally, we work with students to build the most robust applicant profiles. To learn more about our services, call today or contact us online.

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April Maguire
Blogger at CollegeVine
Short bio
A graduate of the Master of Professional Writing program at USC, April Maguire taught freshman composition while earning her degree. Over the years, she has worked as a writer, editor, tutor, and content manager. Currently, she operates a freelance writing business and lives in Los Angeles with her husband and their three rowdy cats.