What Does it Really Cost to Attend Fordham University?

 

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The only Jesuit university in New York City, Fordham University is a private research institution with a reputation for academic excellence, drawing students from around the world. With top programs in business, psychology, communications, and many other fields, numerous alumni go on to thrive in their chosen industries.

 

Why are college costs so variable?

 

At first glance, the price to attend Fordham University may seem steep. That being said, the figure publicized is usually the list price, which few families end up paying. Many students receive financial aid–comprised of government aid, institutional aid, and merit scholarships– which can offset the out-of-pocket cost of attendance tremendously. College costs vary largely due to disparities in family incomes, as well as factors such as merit scholarships.

 

If your child is thinking of attending Fordham, read on to learn about the cost breakdown and what you can actually expect to pay.

 

What is the list price at Fordham?

 

Including tuition, room, and board, the total list price for both in- and out-of-state students who attend Fordham is $69,708.

 

Generally speaking, families earning $175,000 or more can expect to pay the full list price. Even in this category, students within the top 30% of admitted applicants may not pay the full price.

 

What is the price of attending Fordham with financial aid?

 

On average, in- and out-of-state students who receive financial aid and no merit aid pay $62,355. This cost can vary tremendously depending on your family’s income. Average costs per income are:

 

Avg Net Price Family Income Cost of Attendance
$0-$30,000 $24,248
$30,001-$48,000 $26,904
$48,001-$75,000 $32,301
$75,001-$110,000 $35,107
Over $110,000 $42,049

 

What is the merit aid net price at Fordham?

 

Merit scholarships, which are awarded based on talents and excellence in particular areas including academics, can help offset the cost of attending college even for students who don’t qualify for financial aid. A high percentage — 73.6 percent — of Fordham students receive merit aid. For those who don’t receive need-based financial aid, the average merit award is $11,904.

 

Fordham is generous with scholarships, ranking 291st in a pool of 1,000 schools CollegeVine analyzed for merit aid generosity.

 

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What is the average net price for students without need at Fordham?

 

Many students at Fordham who don’t receive need-based aid do receive merit scholarships, reducing their total cost of attendance. Students who receive merit aid but don’t qualify for need-based financial aid pay an average price of $57,804 to attend Fordham.

 

How many students take out loans at Fordham?

 

Many students will opt to take out federal loans to help pay for college. These loans must be repaid according to an individual timetable after graduation. At Fordham, 75 percent of students take out loans, with an average loan amount of $6,720.

 

Other ways to save for college

 

Fordham offers many generous scholarships to students. Examples include:

 

  • The Presidential Scholarship

 

This scholarship is awarded to the top 20 traditional freshmen who typically rank in the top 1-2 percent of their graduating high school class. The scholarship “augments” gift aid to cover full tuition for each year of college. (Fees are not included.)

 

  • The Fordham Scholarship for Semifinalists

 

Semifinalists and finalists in the National Merit or National Hispanic Recognition competitions who are entering freshmen with an A/A- average and are among the top 2-3 percent of admitted Fordham students receive this award, which augments gift aid to cover full tuition for each year of college. (Fees are not included.)

 

Learn more about merit scholarships at Fordham.

 

Students can also apply for external scholarships from a variety of organizations. Many organizations award scholarships to high-achieving students who are members of particular demographics, intend to pursue specific majors, have special talents, and so on.

 

Additionally, many students work part-time or summer jobs to help pay for college. Fordham offers many on-campus work-study and non-work-study jobs. New York also provides an abundance of opportunities for part-time work.

 

Outcomes for Fordham students

 

Even with financial aid and merit scholarships, college can be expensive for many families, so it’s important to know if students can expect their education to pay off longer term. With an average salary of $59,200 10 years after graduation, Fordham alumni can expect a strong return on investment (ROI). Most students—79 percent—graduate within six years.

 

Local area cost considerations

 

Fordham University has two main campuses in Manhattan and the Bronx.

 

The Lincoln Center campus is located one block from Central Park in Manhattan. The cost of living index for Manhattan is 314.5, meaning it is 214.5 percent higher than the national average.

 

The Rose Hill campus is situated in the Bronx, which has a cost of living index of 165.8 (65.8 percent higher than the national average).

 

On both campuses, students are guaranteed housing for four years as undergraduates.

 

In New York City, the minimum wage is currently at $15.00/hour for large employers (11 or more employees) and $13.50/hour for smaller employers (10 or fewer employees). For small employers, the minimum wage will rise to $15.00/hour at the end of 2019.

 

Depending on the nature of the work and skill level required, salaries can vary greatly from employer to employer.

 

Looking for help understanding the financial aid process at Fordham and other schools on your student’s list? Using our Finances tool through CollegeVine’s Applications program, you’ll learn about the ROI of different schools and receive guidance on how to pay for them. Get started today!

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Laura Berlinsky-Schine
Senior Blogger at CollegeVine
Short bio
Laura Berlinsky-Schine is a graduate of Johns Hopkins University, where she majored in Creative Writing and minored in History. She lives in Brooklyn, New York and works as a freelance writer specializing in education. She dreams of having a dog.