What Does It Cost to Attend Syracuse University?
Boasting 200 major programs and 100 minors, Syracuse is a highly respected academic institution that can support students on a wide array of journeys. Moreover, the school is known for breaking ground in numerous disciplines; its 30 research centers explore topics ranging from performance and design to health and STEM.
In light of Syracuse’s impressive reputation, it’s no surprise that tuition rates are high at this upstate New York university. Still, students often wind up paying less than the sticker price to attend. Keep reading to learn what it really costs to go to Syracuse University.
Why College Costs Are Highly Variable
While schools like Syracuse often come with a high price tag including fees for tuition, room and board, students don’t necessarily pay that amount. The actual price, or the financial aid net price of a school, is found by first adding up the cost of all forms of aid, including federal, state, and local grants and scholarships and then subtracting this number from the school’s sticker price.
Although Syracuse University is a private institution, students won’t necessarily pay more to attend this school than they would a public one. Because of its large endowment, Syracuse can afford to offer top applicants more money in the form of grants and scholarships. For this reason, it’s worth applying to a wide array of schools, including ones with higher sticker costs.
What Is the List Price at Syracuse University?
Syracuse University’s high list price can dissuade prospective students from applying. For the 2016-2017 academic year, the cost for tuition, room, and board combined was $63,344. In most cases, only students in the lower 70% of accepted individuals and those from families making $175,000 or more paid the full list price.
What Is the Syracuse University Financial Aid Net Price?
Fortunately, the net price of attending Syracuse is lower than the rate listed in the brochure. For the 2016-2017 school year, incoming students paid an average of $55,432 per year after financial aid. This number was the same for both in-state and out-of-state students.
What Is the Family Income-Based Cost of Attending Syracuse University?
The price a student pays to attend Syracuse depends in large part on family salary figures. View average cost of attendance per student income bracket below:
|Family Income||Average Net Price|
How Much Merit Aid Do Syracuse Students Receive?
Merit aid can help reduce the cost of a Syracuse degree. Currently, the university offers merit-based funding to 36.9% of accepted students without demonstrated financial need, with an average award amount of $5,667. These figures give Syracuse the No. 515 slot out of the 1000 schools CollegeVine analyzed for merit aid generosity.
Consequently, for students who didn’t qualify for financial aid, the average price for tuition and fees was $57,677.
How Many Syracuse University Students Take Out Loans?
Syracuse’s high tuition cost could explain why 64% of students borrow money to attend this school. The average undergraduate takes out federal loans of $6,552 during their college career.
Student Outcomes at Syracuse University
Students and their parents can evaluate student outcomes at Syracuse to determine whether they’ll get a good return on their investment. Currently, Syracuse students have an 81% chance of completing school in six years. Ten years out from earning their degrees, the average graduate was making $62,100 per year. Keep these numbers in mind when determining whether you’ll get your money’s worth on a Syracuse education.
Local Area Cost Considerations
Syracuse is slightly more affordable than other cities across the U.S. With a cost of living index of 82.5, the area boasts reasonable housing and food prices. Plan to spend $687 for a one-bedroom, $859 for a two-bedroom, and $1095 for a three-bedroom apartment.
If you plan to work part time while attending school, expect to earn New York’s minimum wage, which will reach $15 by the end of 2019. Students who stay in Syracuse after graduation can anticipate making around $49,200 per year.
Ways to Save Money on College
A work-study job can be a great way to save money on college without taking time away from your studies. Not only do these positions feature extra time for students to study and do homework, but they’re also conveniently located on the school campus.
Syracuse students can also bridge the gap between the cost of tuition and what they’re receiving in aid by applying for independent scholarships. One good option is the National Merit Scholarship program, which recognizes those students who performed well on their PSATs. The program offers funding to up to 15,000 students a year who scored in the top 1 percent of test takers. You can find information on additional Syracuse University scholarship programs online.
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