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Carnegie Mellon University Tuition and Fees


Carnegie Mellon University Tuition and Fees

Carnegie Mellon University Tuition and Fees

On this page:

    By Kevin Brouillard

    Carnegie Mellon University, located in Pittsburgh, Pennsylvania, is a prestigious private research university that was founded in 1900 by Andrew Carnegie. It has consistently ranked among the top universities globally, particularly in fields like computer science, robotics, AI, and engineering. Carnegie Mellon offers a wide range of undergraduate, graduate, and professional programs across its seven colleges and schools.

    Keep reading to learn more on Carnegie Mellon University tuition costs, housing expenses, top majors, and more.

    Total Cost of Attendance

    For the 2024-25 academic year, the total cost of attendance at Carnegie Mellon was $86,812. Below is a summary of the costs, including tuition, books and supplies, room and board, and other education-related expenses.

    Costs for 2024-2025

    Expenses

    Costs

    Tuition & Fees

    $66,246

    Books & Supplies

    $1,000

    Room & Board

    $18,166

    Other Expenses

    $1,400

    Total Cost of Attendance

    $86,812

    Financial Aid

    At Carnegie Mellon University, 58% of undergraduates students enrolled full-time received financial aid for the 2022-23 academic year. The most common form of financial aid was grants or scholarships, with 49% of undergraduates receiving such awards, totaling $47,550 on average.

    Approximately 17% of Carnegie Mellon undergrads received federal Pell Grants, with an average grant of $5,934. Additionally, 35% of students received federal student loans to help pay for their education at Carnegie Mellon.

    Explore financial aid options: Pennsylvania Student Loan & Scholarship Information

    Generally, financial aid is monetary assistance awarded to students based on personal need or merit. Students who 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, or 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 those on 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 at sources such as:

    •  U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

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

    •  Scholarship Search Tool

    Recommended: The Differences Between Grants, Scholarships, and Loans

    Private Student Loans

    In 2022-23, 3% of full-time undergraduate students at Carnegie Mellon took out private student loans to help cover educational costs, with an average loan amount of $34,884.

    Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -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. Federal student loans don’t have to be paid 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, because it generally has better rates and terms.

    If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition 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: A Complete Guide to Private Student Loans

    Projected 4-Year-Degree Price

    Based on the 2024-25 tuition and costs, a four-year degree at Carnegie Mellon would amount to $347,248, without accounting for any annual cost increases. This is notably higher than the national average cost for four years at a private university, which is $241,680, according to CollegeData.com.

    This student loan and scholarship information may be valuable as you research schools and costs.

    Undergraduate Tuition and Fees

    Costs for 2024-25

    Expenses

    Costs

    Tuition & Fees

    $66,246

    Books

    $1,000

    Total

    $67,246

    Carnegie Mellon tuition and fees for undergraduate students totaled $66,246 in the 2024-25 academic year. In comparison, the average cost of tuition and fees at private colleges is $41,540.

    Room and board expenses for Carnegie Mellon undergrads amounted to $18,166 for students living on campus. This is higher than the national average of $14,650 for room and board at private colleges.

    Graduate Tuition and Fees

    Costs for 2024-25

    Expenses

    Costs

    Tuition

    $49,999

    Fees

    $976

    Total

    $50,975

    Graduate students at Carnegie Mellon paid $49,999 for tuition on average for the 2024-25 academic year. Grad students were also required to pay $976 in fees related to student activities, technology, and transportation.

    The total cost for graduate school at Carnegie Mellon is higher than the national average of $36,760.

    Students might consider graduate loans alongside scholarships, grants, and teaching assistantships to pay for their graduate degree.

    Cost per Credit Hour

    Carnegie Mellon University does not follow a traditional credit hour system. Rather, undergrads must be enrolled in a minimum of 36 units per semester to be considered full-time students. For students enrolled in fewer than 36 units in the 2024-25 academic year, Carnegie Mellon charged $898 per unit.

    Campus Housing Expenses

    Costs for 2024-25

    Expense Type

    On-Campus

    Off-Campus

    Room & Board

    $18,166

    $16,356

    Other Expenses

    $1,400

    $2,080

    Total Housing Expenses

    $19,566

    $18,436

    Carnegie Mellon is home to 26 residence halls and apartments, with 65% of undergraduate students living on campus for all four years of study. Incoming freshmen and certain transfer students are required to live on campus.

    Students could pay less for housing by living off campus, depending on the type of housing and number of roommates they live with. The average rent for a three-bedroom apartment in Pittsburgh is around $1,907 a month, according to Apartments.com. Living off campus may require additional transportation costs, though students can utilize public transportation and the university’s shuttle services. Carnegie Mellon maintains a university-affiliated marketplace to help undergrad and graduate students to find off-campus housing.

    Carnegie Mellon University Acceptance Rate

    Fall 2023

    Number of Applications

    Number Accepted

    Percentage Accepted

    33,707

    3,708

    11%

    Carnegie Mellon University had an acceptance rate of 11% for the Fall 2023 semester. Of those admitted, 44% ultimately enrolled.

    Admission Requirements

    Students may apply for early decision or regular decision at Carnegie Mellon. First-year students must submit their application by November 3 of the previous year for early decision. Regular decision applications are due on December 1 of the previous year for the Schools of Drama and Music, or January 5 of the same year for all other programs.

    Here are the required materials for applying, plus what else can be considered with an application:

    Required:

    •  Common application

    •  Common application essay and writing supplements

    •  High school transcripts

    •  Secondary school counselor evaluation

    •  Teacher recommendation

    •  English proficiency test

    •  SAT/ACT test scores (depending on program)

    Considered:

    •  SAT/ACT scores (depending on program)

    •  Work experience

    SAT and ACT Scores

    Standardized test score requirements vary by program at Carnegie Mellon. The School of Computer Science requires an SAT or an ACT score, whereas other programs have a test flexible policy that allows applicants to self-report scores from a wider range of standardized tests.

    For the 2023-24 academic year, 51% and 17% of students submitted their SAT and ACT scores, respectively. Here’s a breakdown of the 25th and 75th percentile numbers by subject.

    Subject

    25th Percentile

    75th Percentile

    SAT Reading/Writing

    730

    770

    SAT Math

    770

    800

    ACT Composite

    34

    35

    ACT English

    34

    36

    ACT Math

    33

    36

    Graduation Rate

    Here are the graduation rates for students who began their undergraduate studies in Fall 2017:

    •  4-year: 79%

    •  6-year: 93%

    Post-Graduation Median Earnings

    Graduates of Carnegie Mellon earn a median salary of $115,000. This is significantly higher than the national median for college graduates of $80,236.

    Bottom Line

    Carnegie Mellon University is a prestigious school offering a wide range of undergraduate and graduate programs. With an acceptance rate of 11%, getting into Carnegie Mellon is very competitive. Though it has a higher cost of attendance, most students receive some form of financial aid, and graduates can expect to earn significantly more with a degree from CMU.

    If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.


    Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

    View your rate

    SoFi Private Student Loans
    Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
    Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

    SoFi Loan Products
    SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


    Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

    Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


    Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.



    External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

    SOISL-Q325-029

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    Virginia Tech Tuition and Fees


    Virginia Tech Tuition and Fees

    Virginia Tech Tuition and Fees

    On this page:

      By Melissa Brock

      As Virginia’s leading research institution, Virginia Polytechnic Institute and State University (Virginia Tech) in scenic Blacksburg, Virginia, offers 280 undergraduate and graduate degree programs. Virginia Tech’s motto: Ut Prosim (That I May Serve), permeates everything it does, from student research to professors’ teachings in the classroom. Virginia Tech serves more than 38,000 undergraduate, graduate, and professional students.

      Keep reading to learn more on Virginia Tech, including tuition and housing costs, acceptance rates, and top majors in the college.

      Total Cost of Attendance

      The Virginia Tech rate for tuition and fees for Virginia residents was $15,948 in 2024-25, according to the most recent data from NCES. This figure is slightly higher compared to other public universities in Virginia, where the average tuition and all mandatory fees for in-state undergraduates hovers around $14,460.

      In the United States, public four-year in-state tuition and fees was $11,610 on average, while public four-year out-of-state tuition was $30,780 in 2024-25.

      Costs for 2024-2025

      Expenses

      In-State

      Out-of-State

      Tuition & Fees

      $15,948

      $37,764

      Books & Supplies

      $2,678

      $2,678

      Room & Board

      $16,550

      $16,550

      Other Expenses

      $4,494

      $4,494

      Total Cost of Attendance

      $39,670

      $61,486

      Financial Aid

      Virginia Tech awards 69% of its students with financial aid, including federal work-study, scholarships, grants, and loans.

      Explore financial aid options: Virginia Student Loan & Scholarships

      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, or 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 those on 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 at sources such as:

      •  U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

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

      •  Scholarship Search Tool

      Recommended: The Differences Between Grants, Scholarships, and Loans

      Private Student Loans

      A total of 39% of students at Virginia Tech use federal student loans (an average of $5,390 in loans) to help fund their education, while 9% use private student loans (an average of $23,493 in loans).

      Private student loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -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. Federal student loans don’t have to be paid 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, because it generally has better rates and terms.

      If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition 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: A Complete Guide to Private Student Loans

      Projected 4-Year-Degree Price

      Virginia Tech’s cost for in-state students over four years, including tuition, fees, room, board, books, and other expenses would likely cost more than $158,680 (costs will increase over time). Similarly, the cost for out-of-state students would be $245,944 over the course of four years.

      How does that amount compare to other schools across the country? For the 2023-24 academic year, the average price of tuition and fees among colleges and universities was as follows:

      •  In-state residents at public colleges: $45,040 for four years

      •  Out-of-state residents at public colleges: $116,600 for four years

      Virginia Tech costs more for both in-state and out-of-state students compared to the national average.

      This student loan and scholarship information may be valuable as you research schools and costs.

      Undergraduate Tuition and Fees

      Costs for 2024-25

      Expenses

      In-State

      Out-of-State

      Tuition & Fees

      $15,948

      $37,764

      Books

      $2,678

      $2,678

      Total Undergraduate Costs

      $18,626

      $40,442

      The combined cost of Virginia Tech tuition, fees, and books in 2024-25 was $18,626 for Virginia residents and $40,442 for non-residents.

      Graduate Tuition and Fees

      Costs for 2024-25

      Expenses

      In-State

      Out-of-State

      Tuition

      $15,768

      $31,690

      Fees

      $2,796

      $3,402

      Total Graduate Costs

      $18,564

      $35,092

      Assuming a two-year program, a master’s degree from Virginia Tech would cost $37,128 for in-state students and $70,184 for out-of-state students.

      The average cost of a master’s degree in the United States is $62,820. A master of arts degree usually costs $71,140, while a master of science degree typically costs $61,380.

      Students can obtain graduate loans to help with the costs.

      Cost per Credit Hour

      The Virginia Tech cost per credit hour is $548 per credit hour for in-state students and $1,432.25 per credit hour for out-of-state students. Certain programs of study may cost more, so check with the bursar’s office for the most up-to-date information about costs at Virginia Tech.

      Campus Housing Expenses

      Costs for 2024-25

      Expense Type

      On-Campus Costs

      Off-Campus Costs

      Room & Board

      $16,550

      $12,578

      Other Expenses

      $4,494

      $4,494

      Total Expenses

      $21,044

      $17,072

      Of Virginia Tech’s students, 10,500 live on campus in a number of on-campus housing units with an array of amenities and styles, including residential colleges, living-learning communities, and more. Generally, it’ll cost less to live off campus, but it’s a good idea to do your research before you make a decision. Virginia Tech showcases off-campus housing opportunities through a marketplace-type search based on price and a roommate search.

      Virginia Tech Acceptance Rate

      Fall 2023

      Number of Applications

      Number Accepted

      Percentage Accepted

      47,208

      26,909

      57%

      Of the 47,208 applicants who applied to Virginia Tech, 57% were accepted, meaning the school isn’t the most selective institution in the U.S., nor is it the least selective.

      Admission Requirements

      The admission requirements for Virginia Tech include the following:

      Required:

      •  High school transcript with GPA

      •  High school record

      •  Personal statement or essay

      Items considered:

      •  Completion of college preparatory program

      •  SAT/ACT

      SAT and ACT Scores

      Virginia Tech is test-optional, but the college will consider an applicant’s SAT or ACT scores if they send them. A total of 3,103 students sent their SAT scores, while 484 sent ACT scores to Virginia Tech.

      Test

      25th Percentile

      75th Percentile

      SAT Reading/Writing

      620

      700

      SAT Math

      620

      720

      ACT Composite

      27

      32

      ACT English

      25

      33

      ACT Math

      35

      31

      Graduation Rate

      Of Virginia Tech’s students who started in Fall 2015 and who began in Fall 2017:

      •  68% began in Fall 2015 and graduated after four years.

      •  69% began in Fall 2017 and graduated after four years.

      •  87% began in Fall 2015 and graduated after six years.

      •  86% began in Fall 2017 and graduated after six years.

      Post-Graduation Median Earnings

      Ten years after graduating from Virginia Tech, the median earnings of former students who received federal financial aid is $81,698. That’s right in line with the average of bachelor’s degree graduates nationwide, who earn a median salary of $80,236.

      Bottom Line

      Virginia Tech offers a plethora of options for students, and at just $15,948 tuition for in-state students, it can be incredibly affordable for Virginia residents. Look into options to help pay for college, from grants and scholarships to private student loans.

      If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.


      Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

      View your rate

      SoFi Private Student Loans
      Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
      Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

      SoFi Loan Products
      SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


      Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

      Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


      Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.



      External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

      SOISL-Q325-028

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      University of Pennsylvania Tuition and Fees


      University of Pennsylvania Tuition and Fees

      University of Pennsylvania Tuition and Fees

      On this page:

        By Melissa Brock

        The University of Pennsylvania (UPenn), located in the historic city of Philadelphia, is known for its rich liberal arts and sciences tradition and world-class education. A total of 29,109 students in fall 2024 strolled down Locust Walk, cheered on the Quakers, and took classes among its four undergraduate and 12 graduate schools.

        The storied institution is a member of the Ivy League, alongside seven others: Brown, Columbia, Cornell, Dartmouth, Harvard, Princeton, and Yale.

        Keep reading for a closer look at University of Pennsylvania tuition costs, housing expenses, top majors, and more.

        Total Cost of Attendance

        In 2024-25, University of Pennsylvania tuition was $68,686. The cost is similar to the tuition of other Ivy League institutions, which range from $61,676 (Harvard) to $71,845 (Columbia).

        Costs for 2024-2025

        Expenses

        Costs (Living on Campus)

        Costs (Living Off Campus)

        Tuition & Fees

        $68,686

        $68,686

        Books & Supplies

        $1,358

        $1,358

        Room & Board

        $19,174

        $18,360

        Other Expenses

        $3,070

        $3,070

        Total Cost of Attendance

        $92,288

        $91,474

        Financial Aid

        Of full-time students beginning at the University of Pennsylvania in the 2022-23 academic year, 62% received a combination of financial aid. Specifically, 48% received a grant or scholarship and 9% received federal student loans, for an average award of $59,721 in grants or scholarships and $5,054 in federal student loans.

        Explore financial aid options: Pennsylvania Student Loan & Scholarship Information

        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, or 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 those on 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 at sources such as:

        •  U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

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

        •  Scholarship Search Tool

        Recommended: The Differences Between Grants, Scholarships, and Loans

        Private Student Loans

        Of the full-time beginning undergraduate students who take advantage of student loans at UPenn, 4% use private student loans to cover the costs. These students receive an average of $28,622 in private loans.

        Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -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, because it generally has better rates and terms.

        If you’ve missed the FAFSA deadline or you’re struggling to pay for school during the year, private loans can potentially help you make your tuition 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: A Complete Guide to Private Student Loans

        Projected 4-Year-Degree Price

        UPenn’s cost for four years (tuition, room and board on campus, and fees) would be about $369,152 — but note that cost doesn’t include scholarships and grants.

        For the 2023-24 academic year, here are the average price of tuition and fees among colleges and universities across the country:

        •   $41,540 at private colleges ($166,160 for four years)

        •   $11,260 for in-state residents at public colleges ($45,040 for four years)

        •   $29,150 for out-of-state residents at public colleges ($116,600 for four years)

        This student loan and scholarship information may be valuable as you research schools and costs.

        Undergraduate Tuition and Fees

        Tuition, fees, and books cost $70,044 for UPenn in 2024-25. To compare to another Ivy League institution, Harvard’s tuition is $61,676, while fees and books cost $1,000 — a total of $62,676. Here’s a breakdown of UPenn’s costs without housing:

        Expenses

        Costs

        Tuition & Fees

        $68,686

        Books

        $1,358

        Total Undergraduate Costs

        $70,044

        Graduate Tuition and Fees

        Costs for 2024-25

        Expenses

        Costs

        Tuition

        $43,174

        Fees

        $4,670

        Total

        $47,844

        The average cost of graduate student tuition and fees was $43,174 in 2024-25, with $4,670 in fees.

        How does this compare to other graduate schools across the country? The average cost of a master’s degree is $62,820. A master of arts degree usually costs $71,140, while a master of science degree typically costs $61,380.

        Students can get graduate loans to help with the costs.

        Cost per Credit Hour

        The cost per credit is $2,612 for one credit unit (c.u.), plus an online services fee of $162. Two credit units cost $5,224, three credit units cost $7,836, and four credit units cost $10,448. The cost per credit unit also comes with online services fees as well. Note that one credit unit typically represents a four-semester-hour course.

        There are always year-to-year changes in cost per credit units, so it’s a good idea to keep tabs on those charges, which usually increase.

        Campus Housing Expenses

        Costs for 2024-25

        Expense Type

        On-Campus Costs

        Off-Campus Costs

        Room & Board

        $19,174

        $18,360

        Other Expenses

        $3,070

        $3,070

        UPenn offers 13 undergraduate College Houses, with 5,500 undergraduates living on campus. Upperclass students can live in high-rises with apartment-style living. UPenn’s off-campus housing marketplace site lists a plethora of opportunities for students living off campus, and you can also find roommates and housing opportunities based on your budget.

        University of Pennsylvania Acceptance Rate

        Fall 2023

        Number of Applications

        Number Accepted

        Percentage Accepted

        59,465

        3,568

        6%

        The UPenn acceptance rate is only 6%, cementing its standing as a competitive Ivy League institution.

        Admission Requirements

        The admission requirements for UPenn include the following:

        Required:

        •  High school transcript with GPA

        •  High school record

        •  Letters of recommendation

        Items considered:

        •  High school rank

        •  Completion of college prep program

        •  Formal competency demonstration

        •  Personal statement or essay

        •  SAT or ACT scores

        •  English proficiency test

        SAT and ACT Scores

        In 2023, 51% of UPenn students submitted SAT scores and 19% submitted ACT scores. UPenn is test-optional, but of the students who took the tests, here were their scores at the 25th and 75th percentiles:

        Subject

        25th Percentile

        75th Percentile

        SAT Reading/Writing

        730

        770

        SAT Math

        770

        800

        ACT Composite

        34

        35

        ACT English

        35

        36

        ACT Math

        33

        36

        Graduation Rate

        The following are graduation rates for entering full-time students who began at UPenn in Fall 2017 for specified periods:

        •  4-year: 88%

        •  6-year: 97%

        Post-Graduation Median Earnings

        Ten years after entering the school and graduating from the University of Pennsylvania, the median earnings of former students is $111,371. That’s considerably more than the average of bachelor’s degree graduates nationwide, who earn a median salary of $80,236.

        Bottom Line

        The UPenn cost of attendance is $92,288 per year, including tuition and fees, room and board, books and supplies, and other expenses. However, the average amount of aid awarded to undergraduates for grants and scholarships is $59,721, which can knock an appreciable amount off the cost of UPenn. Just like other Ivy League institutions, UPenn is need-blind, which means the admissions committee doesn’t take ability to pay into consideration when paying for college.

        If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.


        Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

        View your rate

        SoFi Private Student Loans
        Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
        Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

        SoFi Loan Products
        SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


        Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

        Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


        Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.


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        University of California, Los Angeles (UCLA) Tuition and Fees


        Southern New Hampshire University Tuition and Fees

        Southern New Hampshire University Tuition and Fees

        On this page:

          By Jennifer Calonia

          Founded in 1919, the University of California, Los Angeles (UCLA) was the second university to join the University of California (UC) System. Its 419-acre main campus, which sits between the cities of Santa Monica and Beverly Hills, offers a range of degree programs — from undergraduate majors and minors to masters, doctoral, and professional programs.

          Keep reading for a closer look at UCLA tuition costs for both in-state and out-of-state students, housing expenses, top majors, and more.

          Total Cost of Attendance

          UCLA is an acclaimed research institution known for its academic programs, medical center, and athletics. Below is the estimated 2024-2025 UCLA cost of attendance for a full-time undergraduate student, which is considerably lower than that of its local rival, the University of Southern California.

          Costs for 2024-2025

          Expenses

          In-State

          Out-of-State

          Tuition & Fees

          $15,203

          $49,403

          Books & Supplies

          $1,641

          $1,641

          Room & Board

          $18,369

          $18,369

          Other Expenses

          $6,777

          $6,777

          Total Cost of Attendance

          $41,990

          $76,190

          Financial Aid

          A majority of UCLA’s undergraduate student population (60%) receives some form of student aid, and of that group, 49% receive grant or scholarship financial aid. For the 2022-2023 academic year, the most current data available from the National Center for Education Statistics, 27% of low-income families received need-based federal Pell Grant awards.

          Explore financial aid options: California Student Loan & Scholarship Information Guide

          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 those on 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 at sources such as:

          •  U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

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

          •  Scholarship Search Tool

          Recommended: The Differences Between Grants, Scholarships, and Loans

          Private Student Loans

          In addition to grant and scholarship aid, a small percentage of Bruins (3%) borrow private student loans to cover University of California, Los Angeles cost of attendance.

          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, because it generally has 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: A Complete Guide to Private Student Loans

          Projected 4-Year-Degree Price

          Based on the 2024-25 cost of attendance estimates over a four-year program, undergraduate California residents can expect to spend $167,960. For out-of-state students, the cost soars to $304,760 for a bachelor’s degree.

          By comparison, the national average cost of attendance for the 2023-24 academic year for a four-year in-state public college averages $115,360 in total for all four years, and $186,920 in total for out-of-state public college for all four years. Private institutions are higher at an average cost of $241,680 for all four years.

          This student loan and scholarship information may be valuable as you research schools and costs.

          Undergraduate Tuition and Fees

          For the 2024-25 academic year, in-state students paid $15,203 in University of California, Los Angeles tuition and fees, plus the cost of books and supplies. Out-of-state students paid $49,403 for the same year. By comparison, the national average for tuition and fees for an in-state undergraduate student attending a public institution was $11,610 per year; $30,780 per year for an out-of-state student.

          Expense

          In-State

          Out-of-State

          Tuition & Fees

          $15,203

          $49,403

          Books & Supplies

          $1,641

          $1,641

          Total Undergraduate Costs

          $16,844

          $51,044

          Graduate Tuition and Fees

          California residents who are pursuing a postgraduate program at UCLA paid $14,476 toward 2024-25 tuition and fees. For out-of-state graduate students, UCLA tuition and fees were $29,578. This is in line with the estimated $44,640 to $71,140 for a master’s degree, according to Education Data’s estimates.

          Expense

          In-State

          Out-of-State

          Tuition

          $12,762

          $27,864

          Fees

          $1,714

          $1,714

          Total Graduate Costs

          $14,476

          $29,578

          There are many options for graduate loans that can help with these costs.

          Cost per Credit Hour

          UCLA tuition is charged as a flat annual rate, and not on a per-credit-hour basis during its regular term. However, based on 2024-25 in-state undergraduate tuition and fees at $15,203, and assuming full enrollment of 15 credit hours, students can expect to spend approximately $1,014 per credit hour.

          Campus Housing Expenses

          UCLA’s on-campus housing options include four building types, from classic residence halls to suites. Each housing option offers double and triple occupancy units, and a variety of communal amenities.

          Bruins can also consider living off-campus in a nearby neighborhood. The average rent for a 938 sq.ft. apartment in Westwood is $3,763. With a roommate to help split the cost of rent, off-campus housing could potentially be more affordable. However, keep in mind that renting involves a full year lease, instead of just the active school term.

          Expenses

          On-Campus

          Off-Campus

          Food & Housing

          $18,369

          $18,610

          Other Expenses

          $6,777

          $6,777

          Total Living Expenses

          $25,146

          $26,183

          UCLA Acceptance Rate

          Fall 2023

          Number of Applications

          Number Accepted

          Percentage Accepted

          145,903

          13,131

          9%

          Admission Requirements

          Undergraduate applicants must meet certain requirements to be considered for admission into UCLA:

          •  Secondary school GPA

          •  Secondary school record

          •  College-prep program completion

          •  Personal statement or essay

          Factors that are not used in admissions decisions include:

          •  School rank

          •  Recommendations

          •  Formal demonstration of competencies

          •  Work experience

          •  Legacy status

          The UC application opens on August 1 each year, and applications can be submitted from October 1 to December 1.

          SAT and ACT Scores

          The University of California, Los Angeles is a test-blind institution. Standardized tests, such as the SAT and ACT, are not considered in admissions decisions.

          Graduation Rate

          The following are graduation rates for entering full-time students who began at UCLA in Fall 2017 for specified periods:

          •  4-year: 86%

          •  6-year: 93%

          Post-Graduation Median Earnings

          UCLA graduates generally have a median salary of $82,511 after the first 10 years from their first enrollment into the university, based on the U.S. Department of Education College Scorecard. By comparison, the average starting salary of a bachelor’s degree graduate in the U.S. is $68,680, according to the National Association of Colleges and Employers.

          Bottom Line

          University of California, Los Angeles cost of attendance ranges from $41,990 to $76,190 for the 2024-25 academic year, and the school is highly competitive with a UCLA acceptance rate of less than 10%. Generally, students who are accepted into the esteemed university are awarded at least some financial assistance. Nearly half of students during the 2022-23 year received an average of $22,441 in grant or scholarship aid.

          If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.


          Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

          View your rate

          SoFi Private Student Loans
          Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
          Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

          SoFi Loan Products
          SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


          Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

          Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


          Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.




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          University of Michigan Tuition and Fees


          University of Michigan Tuition and Fees

          University of Michigan Tuition and Fees

          On this page:

            By Jennifer Calonia

            The University of Michigan is known for its renowned research centers, like the Michigan Institute for Data Science (MIDAS), and its elite athletics programs as a Big Ten Conference competitor. If you’re considering “going Blue,” here’s what to know about University of Michigan’s cost of attendance, tuition by degree level, acceptance rate, and more.

            Total Cost of Attendance

            Founded in 1817, the University of Michigan has three campuses with its main campus located in Ann Arbor, Michigan, 45 minutes west of Detroit. It’s a public, four-year research institution with a prestigious standing in collegiate sports, and its business, engineering, and computer science programs are ranked among the highest in the nation.

            Costs for 2024-2025

            Expenses

            In-State

            Out-of-State

            Tuition & Fees

            $17,736

            $60,946

            Books & Supplies

            $1,158

            $1,158

            Room & Board

            $15,328

            $15,328

            Other Expenses

            $2,710

            $2,710

            Total Cost of Attendance

            $36,932

            $80,142

            Financial Aid

            Students generally cover University of Michigan’s cost of attendance through a variety of financial aid awards, from grants and scholarships to student loans. During the 2022-23 academic year, 55% of undergraduate students received grant or scholarship aid. A majority of students (54%) received institutional grants or scholarships at an average award amount of $20,048.

            Additionally, 18% of first- and full-time undergrads received a federal Pell Grant, which is funding that’s reserved for students who demonstrate exceptional financial need.

            Explore financial aid options: Michigan Student Loan & Scholarship Information Guide

            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 those on 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 at sources such as:

            •  U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

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

            •  Scholarship Search Tool

            Recommended: The Differences Between Grants, Scholarships, and Loans

            Private Student Loans

            At the University of Michigan, five percent of full-time undergraduate Wolverines received private student loans during the 2023-24 year. The average private student loan amount was $26,357.

            Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -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, because it generally has 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: A Complete Guide to Private Student Loans

            Projected 4-Year-Degree Price

            The cost to complete a four-year undergraduate program at U of M for in-state students is $147,728 — higher than the national average four-year degree price of $115,360.

            For out-of-state residents, University of Michigan costs for a bachelor’s degree soar to $320,568. The cost difference of attending U-M as an out-of-state student is significant, compared to the $186,920 national average for out-of-state, four-year degrees.

            This student loan and scholarship information may be valuable as you research schools and costs.

            Undergraduate Tuition and Fees

            In-state students can expect to pay $18,894 toward tuition, fees, and books and supplies. Students who are out-of-state spend notably more at $62,104 for the 2024-25 academic year. By comparison, the average in-state tuition and fees at a public institution is $11,610, and $30,780 for out-of-state students.

            Expenses

            In-State

            Out-of-State

            Tuition & Fees

            $17,736

            $60,946

            Books & Supplies

            $1,158

            $1,158

            Total Undergraduate Costs

            $18,894

            $62,104

            Graduate Tuition and Fees

            For graduate students, University of Michigan tuition and fees are modest compared to the national average for a master’s degree. The average cost for a master’s degree, based on Education Data, ranges from $44,640 to $71,140. During the 2024-25 academic year, graduate tuition and fees at U of M were $28,886 for in-state students and $57,776 for out-of-state students.

            Expense

            In-State

            Out-of-State

            Tuition

            $28,554

            $57,444

            Fees

            $332

            $332

            Total Graduate Costs

            $28,886

            $57,776

            There are many options for graduate loans that can help with these costs.

            Cost per Credit Hour

            Undergraduate Wolverines who are enrolled full-time receive a flat tuition rate for 12 to 18 credits; the per-credit cost for a 12-credit academic session is $817. However, for those who enroll part-time, the first credit hour is $1,187 for Michigan residents and $784 per additional credit hour. Out-of-state students pay $3,073 for the first credit hour and $2,670 for each additional credit.

            Campus Housing Expenses

            The University of Michigan offers various on-campus residence halls, with single, double, triple, quad, or suite options. According to the university, 97% of freshmen students live on campus. Estimates for on- and off-campus housing for U-M students are the same at $18,038 for food, housing, and other expenses.

            Although off-campus housing estimates from the NCES report the same cost as on-campus, what you’ll ultimately pay to live off-campus varies. Expenses depend on your rental unit type, location, and number of roommates you’re splitting shared costs with. Keep in mind, however, that a rental lease is typically for a full 12-month period, not just during the academic session.

            Expenses

            On-Campus

            Off-Campus

            Food & Housing

            $15,328

            $15,328

            Other Expenses

            $2,710

            $2,710

            Total Living Expenses

            $18,038

            $18,038

            University of Michigan Acceptance Rate

            Fall 2023

            Number of Applications

            Number Accepted

            Percentage Accepted

            87,632

            15,774

            18%

            Admission Requirements

            If you’re considering applying to the University of Michigan as an undergraduate student, you’ll need to meet a short list of requirements, including:

            •  Secondary school record

            •  Recommendations

            •  Personal statement or essay

            The following factors are optional to submit, but if submitted with your application, it’s considered by admissions committees:

            •  Secondary school GPA

            •  Secondary school rank

            •  Completion of college-preparatory program

            •  Work experience

            Stay mindful of admissions deadlines. For the fall term, the application deadline is February 1. Students who are applying to the School of Music, Theatre & Dance have an earlier deadline of December 1.

            SAT and ACT Scores

            University of Michigan’s undergraduate admissions process is test-optional, meaning it’s not a requirement. However, students who choose to submit their scores will have their SAT/ACT results considered. First-time students who enrolled in Fall 2023 had the below scores by subject.

            Test Subject

            25th Percentile

            75th Percentile

            SAT Evidence-Based
            Reading/Writing

            670

            750

            SAT Math

            680

            780

            ACT Composite

            31

            34

            ACT English

            32

            35

            ACT Math

            29

            35

            Graduation Rate

            Of students who began their education in Fall 2017 and enrolled full-time, 93% completed their degree.

            Post-Graduation Median Earnings

            According to the U.S. Department of Education’s College Scorecard, students who began their education at the University of Michigan 10 years prior made $83,648 in median earnings. By comparison, the median annual salary for all graduates is $80,236, according to the Bureau of Labor Statistics.

            Bottom Line

            The University of Michigan’s cost of attendance for undergraduates is higher than the national average for a public, four-year institution. However, students who appreciate a tradition of excellence — both academically and athletically — might find student life at U of M lively and rewarding.

            Plus, projected median earnings of students who attend the institution are generally higher than earnings of graduates from other schools, which might pay off in the long run.

            If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.


            Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

            View your rate

            SoFi Private Student Loans
            Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
            Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

            SoFi Loan Products
            SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


            Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

            Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.


            Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.




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