What Does it Really Cost to Attend Sewanee – The University of the South?
Many factors will play into your student’s choice of college. Among them might be location, size, available degree programs, and—often one of the most difficult to navigate—finances. Understanding college costs early in the process of narrowing down a school list will help your student make informed choices about what schools they can afford.
Predicting what the exact college costs for your student would be at the schools on their list is difficult this early in the process, but by looking at the factors that impact these numbers, you can set realistic expectations. In this series, we break down these factors to better prepare your family for college application season. Read more to learn what an education at Sewanee – The University of the South could cost for your student.
Why Are College Costs So Variable?
College costs vary from student to student for a given school due to a number of factors. The price for one year’s education listed on a school’s website or in their brochure is what is known as a list price, or a sticker price. This is what a family would pay with no financial assistance whatsoever. It typically includes tuition, room and board, and activity fees, but confirm what is included when comparing costs of different schools.
However, the list price does not take individual family factors into account, so most families do not pay this amount. As a result, comparing schools’ net costs can be more valuable. Net costs are what a family typically pays out of pocket for that school (including loans). With net cost information, your family will be better equipped to compare school finances.
Three main factors determine net cost: federal, state, and local government aid; institutional financial aid; and merit scholarships. Predicting aid before receiving an official financial aid offer can be difficult, but looking at average net costs can help understand the overall generosity of a school.
What is the List Price at Sewanee – The University of the South?
Sewanee is a private university, so resident and non-resident tuition is the same. In the 2016-2017 school year, the list price for Sewanee – The University of the South was $57,450. Most families do not pay this price, though families earning more than $175,000 per year whose student is not in the top 30% of accepted students in the admitted class should expect to.
What is the Net Cost of Attending Sewanee – The University of the South?
Net costs depend on the three factors mentioned above: government aid, institutional aid, and merit aid. Merit aid will vary immensely depending on the overall profile of the students admitted in your student’s class, so we’ll look at the net cost after only government and institutional aid.
With only government and institutional aid, the average net price for in-state and out-of-state students was $49,862.
What is the Income-Based Cost of Attending Sewanee – The University of the South?
Government and institutional aid will depend on largely on your family’s income as reported on the FAFSA and CSS Profile, so it can be helpful to examine average net cost by income level.
The average net price of Sewanee based on family income is below:
|Family Income||Average Net Cost|
How Much Merit Aid is Typical at Sewanee – The University of the South?
The third type of aid that will impact your student’s net cost is merit aid. This award amount will vary between applicants, so looking at the overall generosity of the school can be a helpful metric.
Sewanee ranked 355th in a pool of over 1,000 schools that CollegeVine analyzed for merit aid generosity. About 75.8% of students without need receive merit aid, with an average award of about $10,160. This brings the average net cost for students without need to $47,290. This is lower than the average net cost above because it includes merit aid, and not just government and institutional aid.
Students are considered for merit aid automatically with their applications and a list of available scholarships is available on their website.
How Many Students Take Out Loans to Attend Sewanee – The University of the South?
About 62% of undergraduate students take out government loans at Sewanee, which are often included in financial aid packages and are typically preferable to private loans due to favorable interest rates and repayment options. Sewanee undergrads average $4,056 in federal loans.
About 82% of Sewanee students graduate within six years of enrolling. The average salary ten years after graduation is $45,500.
Local Area Cost Considerations
Besides even the list or net cost of attending Sewanee, there are other costs your student will incur while attending college. These are incidental costs that exist no matter where your student attends university, like groceries, travel, and rent if they choose to live off-campus. These will all vary depending on the cost of living in the college’s town.
Sewanee – The University of the South is located in Sewanee, Tennessee, which is a small town with a population under 2,500 in Southeastern Tennessee. Sewanee, Tennessee has a cost of living index of 96.9, putting it just under the U.S. average. The lowest factor is transportation, which is 64.4, while housing and healthcare are slightly higher at 109.5 and 130.2, respectively.
Most students live on campus, as an application is required to live off-campus for rising seniors. If your student decides to live off-campus senior year, they can expect to see rents of $780 for a studio apartment, $930 for a one-bedroom, $1,130 for a two-bedroom, and $1,470 for a three bedroom.
The minimum wage in Sewanee, TN, is the same as the federal minimum at $7.25 an hour.
Other Ways to Help Fund a College Education
Besides government aid, institutional aid, and merit aid scholarships, there are different ways to help fund your student’s education. Sewanee is part of the National Merit Scholarship program, which your student is automatically considered for if they take the PSATs their junior year and get qualifying scores. Your student should indicate that Sewanee is their first choice school when completing the National Merit scholarship application.
Curious about your chances of acceptance to your dream school? Our free chancing engine takes into account your GPA, test scores, extracurriculars, and other data to predict your odds of acceptance at over 500 colleges across the U.S. We’ll also let you know how you stack up against other applicants and how you can improve your profile. Sign up for your free CollegeVine account today to get started!