What Does It Cost to Attend the University of California-Los Angeles?
Families often assume that public schools will provide students with more affordable college tuition. And while in-state tuition and fees for four-year public universities averaged $10,230 last year, degrees from many of the top public institutions in the U.S. came with considerably higher list prices. That’s certainly the case for the University of California-Los Angeles.
Located in the Westwood neighborhood of Los Angeles, UCLA comes with a high sticker price. However, a majority of students don’t pay the full rate listed in the brochure. Additionally, in-state applicants will enjoy a significant discount over those residing out of California. Read on to find out what it really costs to attend the University of California-Los Angeles.
Why College Costs Are Highly Variable
A college’s list price is often drastically different from the net price, or rate a family pays after financial aid. Also known as the financial aid net price, this rate is found by adding up the value of various forms of funding, including grants, scholarships, and federal, state, and local aid, and subtracting it from the price printed in the school brochure.
In general, private colleges have the most money to give out in the form of grants and scholarships thanks to their larger endowments. Still, students can enjoy significant savings by attending an in-state public university like UCLA. To protect your student’s academic and financial future, it pays to consider all the options available.
What Is the List Price at UCLA?
UCLA’s high list price can discourage some students from applying. For the 2016-2017 academic year, the total cost for tuition and fees was listed at $34,056 for in-state applicants. Out-of-state students saw a sticker price of $60,738 per year. In most cases, students from families earning less than $175,000 and those in the top 30% of their incoming class paid under list price to attend UCLA.
What Is the UCLA Financial Aid Net Price?
The financial aid net price at UCLA was slightly lower than the sticker price for the 2016-2017 school year. For in-state students, financial aid brought the cost of tuition and fees down to $29,016. For out-of-state applicants, the average net cost was $55,698.
What Is the Family Income-Based Cost of Attending UCLA?
The cost of attending UCLA differs based on a student’s family income. The following are average net prices for a UCLA education based on family finances:
|Family Income||Average Net Price|
How Much Merit Aid Do UCLA Students Receive?
UCLA students receive relatively little merit-based aid. Last year, just 5.8% of students received financing based on merit, with an average award amount of $283. For students who didn’t qualify for aid, the average net price was $33,773 in state and $60,455 out of state.
How Many UCLA Students Take Out Loans?
UCLA’s high cost of attendance means that a majority of students need to take out loans to pay for their degrees. At present, 86% of UCLA students borrow money. The average federal student loan per undergraduate is $3,394.
Student Outcomes at UCLA
Student outcomes are a crucial factor in assessing whether UCLA is the right school for your teen. Because the university has a graduation rate of 90%, students are likely to complete their degrees on schedule. Ten years after finishing school, students average $60,700 a year, indicating that a UCLA degree is a relatively solid investment.
Local Area Cost Considerations
If you’re thinking of attending college in Los Angeles, then you may already know that the city is one of the most expensive places to live in the United States. With a cost of living index of 195.1, LA is 95% more expensive than the average U.S. city. Unfortunately, California’s minimum wage is just $11 an hour, so students might have to work a lot of hours to make ends meet. The average annual salary in Los Angeles is $62,712.
Students can expect to pay high rates for off-campus housing in LA. For a one-bedroom rental, the average cost is $1545 per month. Two-bedroom apartments cost $1999 on average, with three-bedroom rentals costing $2681.
Ways to Save Money on College
If you do want to work while earning your degree, work-study is a great option. These on-campus positions generally afford students time to study and do homework while earning a paycheck. Students with work-study jobs should earn at least the federal minimum wage.
If you don’t want to work while attending school, consider applying for independent scholarships to make ends meet. If you did well on your PSATs, think about throwing your hat in the ring for the National Merit Scholarship program, which offers grants to the top 1 percent of scorers. Fifteen thousand students a year receive funding from this program. Families can find more UCLA scholarship opportunities online.
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