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Annual Costs

Undergraduate Tuition

Tuition for McDaniel College is $41,800 for the 2017/2018 academic year. This is 51% more expensive than the national average private non-profit four year college tuition of $27,755. The cost is 105% more expensive than the average Maryland tuition of $20,405 for 4 year colleges. Tuition ranks 27th in Maryland amongst 4 year colleges for affordability and is the 7th most expensive 4 year college in the state. Price does not vary by residence.

Housing Costs

On campus room and board is provided by the school at a cost of $11,110 per academic year. Students electing to live off campus elsewhere in Westminster should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $1,200.

Other Living Expenses

If living on-campus, students should budget for $1,720 in additional living expenses. Off-campus students should budget for $2,170 in other miscellaneous living expenses.

Total Costs

The annual tuition and living expense budget to go to McDaniel College was $55,830 for the 2017/2018 academic year. The cost is the same for all students regardless of Maryland residence status as there is no in-state discount.

Citation: Price data from the U.S. Department of Education's 2017-2018 and 2016-2017 IPEDS survey response for McDaniel College and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for McDaniel College
Estimated Budgets
Maryland Resident Total Budget $55,830
   In-State Tuition$41,800
   Other Fees$0
   Room and Board$11,110
   On-Campus Other Budget$1,720
   Books and Supplies$1,200
Non-Resident Total Budget $55,830
   Out-of-State Tuition$41,800
   Other Fees$0
   Room and Board$11,110
   On-Campus Other Budget$1,720
   Books and Supplies$1,200

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What it Really Costs

Depending on many factors including student and parent income and assets, the total cost of attendance may be less than the $55,830 published price if scholarship or grant aid is made available to you.

Net Price

The net out-of-pocket total cost you end up paying or financing though student loans is known as the net price. The reported McDaniel College net price for in-state students is $22,917* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

99% of McDaniel College students received grant aid in 2014/2015. The average total aid amount was $25,010. 31 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2014/2015 was $4,569. To apply for a Pell Grant to attend McDaniel College, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for McDaniel College
Financial Aid Summary
Average Annual Net Price$22,917*
Percent of Students Receiving Grant Aid99%
Average Total Grant Aid$25,010
Percent of Students Receiving Pell Grants31%
Average Amount of Pell Grant Aid$4,569

Average Net Price by Family Income

The average net total cost of attendance for different levels of family income after federal, state or local government, institutional grant and scholarship aid are awarded. Data last published for the 2014/2015 academic year.

Family Income Avg. Net Price
$0 to $30,000$11,740
$30,001 to $48,000$13,628
$48,001 to $75,000$19,031
$75,001 to $110,000$21,284
$110,000+$27,338

Average Financial Aid Mix - $55,830 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $55,830. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

46%
12%
42%

Grants and Scholarships

 46% - $25,010

Money granted to you by the U.S. Department of Education, McDaniel College or other organizations. These are not loans and do not need to be repaid.

Federal Loans

 12% - $6,641

Low interest student loans funded by the U.S. Department of Education. This amount will need to be repaid.

Out of Pocket

 42% -  $22,459

Covered by family savings, work or private student loans which you will have to repay.


*Reported Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's Academic Year 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Note that for colleges with no reported on-campus room and board, the average net price has been increased to account for living expenses. This number may not only reflect the net price paid to the school for tuition.

Is it Worth the Cost?

To make a comparative assessment if McDaniel College is worth the price, measures of it's relative value for tuition dollar can be examined. We've calculated an academic national percentile rating of 64/100 for McDaniel College. Considering an average net price paid of $21,752, this leads to an overall value ranking of 64/100. This places the school 149th on our national Best Value Colleges ranking as a provider of a very high value education compared to actual overall price paid.

Tuition Comparison to Similar Private Colleges in the Region

School Cost vs. McDaniel College
Mount St Mary's University6.2% less expensive
Stevenson University20.9% less expensive
York College Pennsylvania58% less expensive
Messiah College20.3% less expensive
Wilson College43.2% less expensive

Cost of a Degree

When considering ability to pay for college, the annual cost is often discussed but it's the "all in" multi-year degree cost which matters in the end. Let's take a look at what it could really cost for four years at McDaniel College.

Estimated 4 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 4 year bachelor's degree at McDaniel College is $223,320 for students graduating in normal time. This methodology for estimating the 4 year cost is a straight multiple of the most recent reported annual total cost and does not factor in tuition increases during the time you're in school. It also assumes you receive no grant or scholarship aid and pay the full list price.

A potentially more accurate but less conservative estimate of a degree cost can be made by using the school's annual $21,752 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $87,008**

If you end up on the "five year plan" and need an additional year to graduate, your five year cost could be as high as $279,150 or $108,760 using an average net price.

**Based on a 4 year multiple of Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Other Costs

Cost Per Credit Hour and Cost for a Class

Some schools offer the ability to take single classes by paying on a per credit hour basis. The reported price per credit hour and estimated cost for one class at McDaniel College are as follows. Per credit costs are for reference only as many schools will not allow students to pay by credit hour.

Cost per credit hour and per class at McDaniel College
Price per credit hour$1,306
Cost for one class (3 credit hours)$3,918
Cost for one class (4 credit hours)$5,224

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Student Loans and Debt

The second consideration after understanding the cost of college is determining how to finance it. Some students are fortunate enough to have some form of family financial assistance, but student loans end up financing a significant portion of higher education in the U.S. 65% of McDaniel College students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $6,641. The reported average student debt upon graduation is $29,554.

Example Loan Payments and Costs

How much are student loan payments for McDaniel College? Obviously this varies based on a number of factors - offsetting financial aid you receive, percentage of fee you pay upfront while enrolled and the interest rate on your loans. We've modeled a sample student loan based on current Stafford loan rates to give you an approximate idea.

The following are the costs for a loan if you borrowed $87,008, 100% of the estimated average net price for a four year program and paid nothing while enrolled. The total of all payments including interest would sum $107,956.97. This could be your effective total out of pocket cost of an education at McDaniel College. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 99% of students at this school who receive financial aid and you are paying an average annual net price of $21,752. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our McDaniel College student loan calculator below to change loan assumptions and recalculate.

Student loans are not free money and must be repaid. You cannot dismiss student loans by via bankruptcy.

McDaniel College Student Loan Payments
Example Payments
Monthly Loan Payment$899.64
Amount Borrowed$87,008.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$20,948.97
Sum of All Payments over 10 years$107,956.97

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend McDaniel College? In the end, the answer comes down a determination if you will earn enough to comfortably pay back a student loan with your post graduation salary. This is an extremely important point to consider. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending McDaniel College, you need to carefully consider if it will be realistic to make the post graduation loan payments based on your expected salary.

Using the 10% of salary threshold, an annual income of $107,956.97 would be needed to afford a $899.64 monthly payment in the example $87,008.00 loan modeled above. You will need to determine if it is at all realistic that you will be earning this type of salary after graduation. This assumes a loan payback over 10 years. You can change the terms of this example loan using the student loan calculator below.

Estimated Future Cost and Expected Tuition Increase

What will it cost to send your child to McDaniel College in the future? In the past four years, this school's published in-state tuition and fee total rose from $35,800 to $41,800. This amounts to an average annual price increase of 3.4%. Nationally, university tuition prices are rising around 5% per year. Looking out five, ten, fifteen or eighteen years, these are CollegeCalc's estimates how much you could expect to pay for a 4 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current 4 year cost of $223,320.00. Use the college savings plan calculator below to perform a more comprehensive analysis on future costs and how much you will need to save for McDaniel College.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2024$76,779$307,117
Estimated Cost in 10 years for students enrolling in 2029$97,992$391,968
Estimated Cost in 15 years for students enrolling in 2034 $125,065$500,261
Estimated Cost in 18 years for students enrolling in 2037 $144,779$579,115

Tuition History

What was tuition at McDaniel College five, ten, fifteen or twenty years ago? Hop into our time machine and take a look. Pay attention to how aggressive the school has been with price increases in the past as it provides indication as to how the school may raise tuition in the next few years. Historical tuition and fees for all available data years back to 1987 follows.

YearTuitionAnnual Increase
2012$34,7804.5%
2011$33,2804%
2010$32,0004%
2009$30,7806.4%
2008$28,9406.1%
2007$27,2804.9%
2006$26,0104.9%
2005$24,8007.1%
2004$23,1606.4%
2003$21,7605.9%
2002$20,5504.8%
2001$19,6005.1%
2000$18,6505.2%
1999$17,7305.2%
1998$16,8504.5%
1997$16,1255.4%
1996$15,3005.4%
1995$14,5105.5%
1994$13,7504.7%
1993$13,1305%
1992$12,5057.9%
1991$11,5909.5%
1990$10,58412%
1989$9,4508%
1988$8,7509.5%
1987$7,990

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at McDaniel College to the national average for all other colleges offering the same major. Use this comparison to determine particular programs where this school offers value relative to other colleges.

Area of Study Graduates vs National Avg
Health and Physical Education/Fitness, General Bachelor's Degree 34 55% costlier
Speech Communication and Rhetoric Bachelor's Degree 26 41% costlier
English Language and Literature, General Bachelor's Degree 20 39% costlier
Business Administration and Management, General Bachelor's Degree 8 62% costlier
Music, General Bachelor's Degree 6 35% costlier
Economics, General Bachelor's Degree 6 25% costlier
Spanish Language and Literature Bachelor's Degree 6 30% costlier
Political Science and Government, Other Bachelor's Degree 5 20% costlier
Accounting and Related Services, Other Bachelor's Degree 5 34% costlier
Psychology, General Bachelor's Degree 3 38% costlier
Mathematics, General Bachelor's Degree 3 36% costlier
Sociology Bachelor's Degree 3 36% costlier
Social Work Bachelor's Degree 2 55% costlier
Environmental Studies Bachelor's Degree 2 14% costlier
History, General Bachelor's Degree 2 36% costlier
Drama and Dramatics/Theatre Arts, General Bachelor's Degree 2 31% costlier
French Language and Literature Bachelor's Degree 2 21% costlier
Computer and Information Sciences, General Bachelor's Degree 2 51% costlier
Physics, General Bachelor's Degree 2 27% costlier
Multi-/Interdisciplinary Studies, Other Bachelor's Degree 1 33% costlier
Philosophy Bachelor's Degree 1 24% costlier
Chemistry, General Bachelor's Degree 1 34% costlier
Art/Art Studies, General Bachelor's Degree 1 43% costlier
Asian Studies/Civilization Bachelor's Degree 1 7% costlier
Religion/Religious Studies Bachelor's Degree 1 17% costlier
Film/Cinema/Video Studies Bachelor's Degree 1 10% costlier
Art History, Criticism and Conservation Bachelor's Degree 1 14% costlier
Biology/Biological Sciences, General Bachelor's Degree 1 38% costlier

Calculators

Use the calculators below to formulate a college savings plan for McDaniel College or model a student loan.

College Savings Calculator

Plan and Save for College

Discover how much will you need to start saving now to afford McDaniel College in the future.

Student Loan Calculator

Estimate Loan Payments

Modify the loan assumptions to fit your financial situation and likely tuition price. Then calculate your payoff and loan payments for a McDaniel College student loan.

Prepayment Option

About McDaniel College

McDaniel College is a four year private college located in Westminster, Maryland.  Full time enrollment is 1,641 and part time is 1,109.

Students attending this school may pursue both undergraduate and graduate degrees.

Address
McDaniel College
2 College Hill
Westminster, Maryland
21157

For Profit / Not For Profit Status

McDaniel College is a private not for profit institution.

McDaniel College cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=164270 IPEDS survey data.