Northeastern University Tuition and Fees

Northeastern University Tuition and Fees

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    By Susan Guillory

    (Last Updated – 06/2022)

    Total Cost of Attendance

    Northeastern University is known for its Cooperative Education Program, which combines classroom learning and experiences to prepare students for careers in many fields. But access to this co-op style of learning doesn’t come cheap: in 2021-22, Northeastern University tuition was $57,592. Contrast this against the average cost of tuition for a private four-year institution in the U.S. of $35,807. The good news is, that student loans and scholarships can make this price tag easier to swallow.

    Costs for 2021-22

    Student Type

    In-State

    Out-State

    Tuition & Fees

    $57,592

    $57,592

    Books & Supplies

    $1,000

    $1,000

    Room & Board

    $17,810

    $17,810

    Other Expenses

    $1,800

    $1,800

    Total Cost of Attendance

    $78,202

    $78,202

    Financial Aid

    Approximately 82% of Northeastern students receive some sort of financial aid, including student loans, grants, and scholarships. Northeastern is need-aware for international students only, meaning international students who have financial needs will still be considered during the application process.

    Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

    The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

    •  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

    •  Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

    •  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

    •  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.

    Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

    You can find other financial aid opportunities on databases such as:

    •  US Department of Education – Search for grants from colleges and universities by state

    •  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

    Recommended: The Differences Between Grants, Scholarships, and Loans

    Private Student Loans

    While 35% of Northeastern students take out federal loans to help pay for Northeastern tuition, just 5% take out private student loans. The average amount borrowed with private loans is $25,561 per year.

    Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.

    What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

    Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.

    If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

    Recommended: Guide to Private Student Loans

    Projected 4-Year-Degree Price

    When considering colleges, it’s wise to look at the full cost for four years of education. The average cost for a four-year degree at a private school in the U.S., according to CollegeData.com is $217,920. At Northeastern, that number is $312,928, based on 2021-22 rates.

    Here’s some Massachusetts Student Loan & Scholarship Information for you.

    Undergraduate Tuition and Fees

    Costs for 2021-22

    Student Type

    In-State

    Out-State

    Tuition & Fees

    $57,592

    $57,592

    Room & Board

    $17,810

    $17,810

    Total Cost of Attendance

    $75,402

    $75,402

    In 2021-22, students at Northeastern paid $57,592 for tuition and fees and $17,810 for room and board, for a total of $75,402 for the year. Here’s some helpful student loan and scholarship information to help you explore options for paying for Northeastern tuition.

    Graduate Tuition and Fees

    Costs for 2021-22

    Student Type

    In-State

    Out-State

    Tuition

    $25,801

    $25,801

    Fees

    $294

    $294

    Total Cost of Attendance

    $26,095

    $26,095

    Tuition for graduate school at Northeastern University was $25,801 for the 2021-22 school year, with an additional $294 in fees. That makes the total for graduate school $26,095. This is a little higher than the average cost for tuition for graduate school at a private institution in the United States, which was $19,493. There are graduate loans that can help you cover these costs.

    Cost per Credit Hour

    If you opt to attend Northeastern on a part-time basis, you won’t pay the full-time tuition we’ve discussed. Instead, you’ll pay $1,766 per credit hour, based on the 2021-22 pricing.

    Campus Housing Expenses

    Costs for 2021-22

    Student Type

    In-State

    Out-State

    Books & Supplies

    $1,000

    $1,000

    Room & Board

    $17,810

    $2431/mo*

    Other Expenses

    $1,800

    $1,800

    *Based on studio pricing. Average rate based on available apartments on Northeasetern’s off-campus housing website in 2022.

    First- and second-year students are required to live on campus at Northeastern. Most rooms are double or triple occupancy, though there are limited single rooms.

    Third-year and beyond students can opt to live off-campus. Northeastern has a site where students can find housing at reasonable rates. Keep in mind you may be required to sign a 12- month lease, even if the school semester is shorter.

    Find out more about the university’s housing policies and options resource to learn more about off-campus housing.

    Northeastern University Acceptance Rate

    Fall 2020

    Number of applications

    64,459

    Number accepted

    12,891

    Percentage Accepted

    20%

    With 12,891 students accepted out of the 64,459 that applied, the Northeastern acceptance rate is 20%

    Admission Requirements

    To be accepted as a student at Northeastern University, there are certain requirements that must come with your application. Also, there are other documents that, while not required, may help the school determine eligibility.

    Required:

    •  Secondary school report and transcripts

    •  Recommendations

    •  Early Decision Agreement (if applicable)

    Recommended:

    •  SAT or ACT scores

    The deadline for Early Decision I is November 1, with a decision given by December 15. The deadline for Early Decision II is January 1, with a decision by February 15. The Regular Decision deadline is January 1, with a decision given by April 1. You can apply to Northeastern here .

    SAT and ACT Scores

    Through the 2022-23 school year, Northeastern will not require SAT or ACT scores to be submitted with applications.

    However, you may want to compare your test scores with those in the 25th and 75th percentile:

    Subject

    25th Percentile

    75th Percentile

    SAT Evidence-Based
    Reading/Writing

    690

    750

    SAT Math

    720

    790

    ACT Composite

    33

    35

    ACT English

    33

    35

    ACT Math

    30

    35

    Graduation Rate

    So how many students actually graduate from Northeastern? A high percentage, actually. For students who started in 2012, here are the graduation rates:

    •  4 years: 88%

    •  6 years: 89%

    Post-Graduation Median Earnings

    Students graduating from Northeastern make significantly more than the average for private four-year school students, which is $47,891. Instead, Northeastern students make, on average, $79,786 a year.

    Bottom Line

    Northeastern University offers a wide variety of creative majors and opportunities that can expand your career options once you graduate. Standards for acceptance are high, but if you meet those requirements, you’ll be rewarded with a great education.

    SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no origination fees.

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    Photo credit: iStock/Rebecca Todd
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