What Does it Cost to Attend Saint Joseph’s University?

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For the majority of families with college bound students, college costs are a significant concern. CNN reported in 2016 that the average American family was paying more than $100,000 for a four-year degree from a private university. Hence, it’s no surprise that over 85% of college students now receive financial aid.

 

What is a surprise for many families, though, is how difficult it can be to predict college expenses. In this series, we at CollegeVine dive deep into the costs of attending college at hundreds of schools across the country to help you more accurately predict how much you’re likely to pay. To learn more about how much your family might pay for a degree from Saint Joseph’s University, don’t miss this post.

Why Are College Costs So Variable?

College costs vary quite a bit as many different factors affect them. The amount that your family ultimately pays out of pocket for a college degree depends on how much scholarship money and merit aid your students receives, how much financial aid your family is eligible for, and how much the particular college costs to begin with. It is a complicated equation with many pieces that don’t fall firmly into place until late in the college selection process. It can be helpful, though, to learn about the specific factors that impact cost in an effort to better predict your own expenses.

 

One of the biggest factors in determining college costs is the list price at the college your student ultimately attends. List price, also sometimes referred to as the sticker price, is the total cost of attending that college without any financial assistance. It generally includes tuition, room and board, and all necessary fees. Sometimes certain costs are excluded, like room and board at commuter schools, so make sure to confirm what the list price covers when you are comparing list prices from one school to another.

 

The good news is that most families do not end up paying the entire list price. Instead, they pay a net cost that depends on how much financial assistance they receive in the form of institutional aid, merit aid, or federal, state, and local aid. A student’s financial aid package will often consist of a combination of several or all of these types of aid. The types and amount of assistance granted vary from one family and one student to the next making them difficult to predict in advance, but understanding more about them can help your family prepare for this big investment.

What is the List Price at Saint Joseph’s University?

During the 2016-2017 school year, the list price at St. Joseph’s was $59,574. Because St. Joseph’s is a private school, it does not offer discounts for state residents and the list price remains the same regardless of where you reside.

 

Still, not many students pay the full list price. Those who should expect to do so are generally students with a family income of $175k or more.

What is the Net Cost of Attending St. Joseph’s University?

In 2016, students who received financial aid only had an average net cost of $53,050. Those without financial need who were awarded merit aid had an average net cost of $46,947. Again, these numbers are the same regardless of state of residence.

What is the Net Cost Based on Income of Attending St. Joseph’s?

The amount that a family receives in financial aid is highly dependent on how much that family earns. This means that breaking down net cost by family income level can provide important additional insight. At St. Joseph’s, those costs breakdown as follows.

 

Family Income Average Net Price
$0-$30,000 $27,875
$30,001-$48,000 $27,799
$48,001-$75,000 $30,361
$75,001-$110,000 $30,556
$110,000+ $37,495

Want to know your real chances of admission?

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How Much Merit Aid is Typically Awarded at St. Joseph’s?

St. Joseph’s commonly awards merit aid to its students. In 2017, 82% of students without financial need received merit awards. The average merit award for a student without financial need was $12,627. Saint Joseph’s ranks 270th in the pool over 1000 schools we analyzed for merit aid generosity.

How Many Students Take Out Loans to Attend Saint Joseph’s University?

Loans are also common amongst St. Joseph’s students. In 2017, 79% of students held a loan to help finance his or her education. The average federal student loans per undergraduate student was $6,761.

Student Outcomes

There’s no doubt that college costs represent a significant upfront expense for most families. It can be helpful to consider this a long-term investment, as a college degree generally leads to a lifelong increase in earning potential. Looking at the student outcomes for a particular college can help you gauge the potential return on this investment.

 

At St. Joseph’s, 79% of students who begin a degree complete it within six years. The average salary ten years after graduation is $59,600.

Local Area Cost Considerations

There will undoubtedly be other expenses that arise during the course of a four year degree program, and the cost of these will likely be linked to the local economy. Expenses like groceries, transportation, or even off campus housing will add up over the course of four years, so looking at the local cost of living can help you to better anticipate these costs.

 

Saint Joseph’s University is located in Philadelphia, PA. Generally, big cities have a higher cost of living than suburban or rural locations, but Philadelphia is fairly affordable considering its size. The cost of living index in Philadelphia is 110.4, meaning it is about 10% more expensive than the national average of all cities and towns. While transportation tends to be very expensive in Philadelphia, driving up the total cost of living, housing is surprisingly affordable given its urban setting. Students living off campus will spend about $834/month on a studio apartment or $1493/month on a three-bedroom.

 

The job market in Philadelphia isn’t great, though. Unemployment rates run significantly above average while recent job growth and projected job growth are both slightly below average. Minimum wage in Pennsylvania is the federally mandated minimum of $7.25/hr, a rate which has held since 2009. Current legislation has been proposed to raise it to $12/hr, but nothing has passed as of May 2019.

Other Ways to Pay for College

Scholarship money can be another big help when it comes to funding a college education. Many families think of scholarships as something reserved for only the most academically elite students across the country, but in reality they come in many different shapes and sizes.

 

The most popular scholarship program is the National Merit Scholarship Program, which has over a million participants each year. High school juniors who take the PSAT are eligible for awards through this program based on their scores. Other awards are also distributed based on PSAT scores by the National Hispanic Recognition Program and awards from specific corporations or colleges. To learn more about the program, check out our post How to Qualify for the National Merit Scholarship Program.

 

Scholarships exist on many different levels, too. Some, like the National Merit Scholarship Program, operate nationally and attract large pools of applicants. Others are regional or even local in nature, or have awards received for very specific skills, personal qualities, or backgrounds. You can check out some of the options in these CollegeVine posts:

 

 

If you’re interested in learning more about college costs, applying for scholarships, and optimizing your student’s application, check out CollegeVine’s Applications Guidance service. Here, your student will be paired with a personal admissions specialist from a top college who can provide step-by-step guidance through the entire application process, including the funding options available to your family.

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Kate Sundquist
Senior Blogger at CollegeVine
Short bio
Kate Koch-Sundquist is a graduate of Pomona College where she studied sociology, psychology, and writing before going on to receive an M.Ed. from Lesley University. After a few forays into living abroad and afloat (sometimes at the same time), she now makes her home north of Boston where she works as a content writer and, with her husband, raises two young sons who both inspire her and challenge her on a daily basis.