Tuition and Cost to Attend Southern Methodist University

Annual Total Cost

The annual total list price cost to go to Southern Methodist University was $58,555 for the 2013/2014 academic year. The cost is the same for all students regardless of Texas residence status as there is no in-state discount.

Undergraduate Tuition

Tuition for Southern Methodist University is $38,870 for the 2013/2014 academic year. This is 59% more expensive than the national average private non-profit four year college tuition of $24,476. The cost is $24,696 and 174% more expensive than the average Texas tuition of $14,174 for 4 year colleges. Tuition ranks 112nd in Texas amongst 4 year colleges for affordability and is the most expensive 4 year college in the state. Price does not vary by residence.

The school charges an additional fees of $4,930 in addition to tuition bringing the total effective in-state tuition to $43,800.

Housing Costs

On campus room and board is provided by the school at a cost of $13,955 per academic year. Students electing to live off campus elsewhere in Dallas should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $800.

Costs and Tuition for Southern Methodist University
Expenditure Price
Texas Resident Total Cost $58,555
   In-State Tuition$38,870
   Other Fees$4,930
   Room and Board$13,955
   Books and Supplies$800
Non-Resident Total Cost $58,555
   Out-of-State Tuition$38,870
   Other Fees$4,930
   Room and Board$13,955
   Books and Supplies$800

All price data are reprinted from the U.S. Department of Education's 2013-2014 and 2012-2013 IPEDS Survey and represent reported costs for the 2013-2014 and 2012-2013 academic years.

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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 $58,555 published price if scholarship or grant aid is made available to you.

Net Price

The net out of pocket price you end up paying or financing though student loans is known as the net price. The reported Southern Methodist University net price for in-state students receiving aid was $29,140* for the 2010/2011 academic year.

Pell Grants and other Grant Aid

70% of Southern Methodist University students received grant aid in 2010/2011. The average total aid amount was $20,856. 17 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2010/2011 was $3,952. To apply for a Pell Grant to attend Southern Methodist University, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Southern Methodist University
Financial Aid Summary
Average Annual Net Price$29,140*
Percent of Students Receiving Grant Aid70%
Average Total Grant Aid$20,856
Percent of Students Receiving Pell Grants17%
Average Amount of Pell Grant Aid$3,952

Average Financial Aid Mix - $58,555 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $58,555. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

36%
11%
53%

Grants and Scholarships

 36% - $20,856

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

Federal Loans

 11% - $6,600

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

Out of Pocket

 53% -  $31,099

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

Average Net Price by Family Income

The average net cost of attendance for different levels of family after federal, state or local government, institutional grant and scholarship aid are awarded. Data last reported for the 2011-2012 academic year.

Family Income Avg. Net Price
$0 to $30,000$18,001
$30,001 to $48,000$19,664
$48,001 to $75,000$24,224
$75,001 to $110,000$28,685
$110,000+$39,621

*Reported Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2011-2012 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 Southern Methodist University 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 84/100 for Southern Methodist University. Considering an average net price paid of $29,140, this leads to an overall value ranking of 65/100. This places the school 177th on our national Best Value Colleges ranking as a provider of a very high value education compared to actual overall price paid.

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 Southern Methodist University.

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 Southern Methodist University is $234,220 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 $29,140 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $116,560**

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 $292,775 or $145,700 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 2011-2012 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

Estimated Cost Per Semester

Most colleges don't charge students on an annual basis but instead require payment semester by semester. If you ever need to take an additional semester of classes to complete you degree you shouldn't have to pay for a full academic year. These our estimated costs for a semester at Southern Methodist University.

Texas Resident Tuition Per Semester$19,435
Texas Resident Total Cost Per Semester$29,278

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 Southern Methodist University 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 Southern Methodist University
Price per credit hour$1,462
Cost for one class (3 credit hours)$4,386
Cost for one class (4 credit hours)$5,848



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. 32% of Southern Methodist University students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $6,600. The reported average student debt upon graduation is $29,829.

Example Loan Payments and Costs

How much are student loan payments for Southern Methodist University? 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 $116,560, 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 $146,042.33. This could be your effective total out of pocket cost of an education at Southern Methodist University. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 70% of students at this school who receive financial aid and you are paying an average annual net price of $29,140. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Southern Methodist University 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.

Southern Methodist University Student Loan Payments
Example Payments
Monthly Loan Payment$1,217.02
Amount Borrowed$116,560.00
Interest Rate4.7%
Term10 years
Number of Monthly Payments120
Total Interest Cost$29,482.33
Sum of All Payments over 10 years$146,042.33

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend Southern Methodist University? 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 Southern Methodist University, 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 $146,042.33 would be needed to afford a $1,217.02 monthly payment in the example $116,560.00 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 Southern Methodist University in the future? In the past five years, this school's published in-state tuition and fee total rose from $28,630 to $39,430. This amounts to an average annual price increase of 7.5%. 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 $234,220.00. 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 Southern Methodist University.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2019$80,527$322,107
Estimated Cost in 10 years for students enrolling in 2024$102,775$411,099
Estimated Cost in 15 years for students enrolling in 2029 $131,170$524,679
Estimated Cost in 18 years for students enrolling in 2032 $151,845$607,381

Tuition History

What was tuition at Southern Methodist University 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 the past as it provides indication as to how the school may raise tuition in the next few years if you enrolled. Historical tuition and fees for all available data years back to 1988 follows.

YearTuitionAnnual Increase
2010$35,1606%
2009$33,1707.4%
2008$30,8807.9%
2007$28,6306.5%
2006$26,8806%
2005$25,3587.5%
2004$23,5887.5%
2003$21,9425.5%
2002$20,7966%
2001$19,6206%
2000$18,5105%
1999$17,6285%
1998$16,7905%
1997$15,9905%
1996$15,2285.8%
1995$14,3966%
1994$13,5807%
1993$12,6887.8%
1992$11,7688.5%
1991$10,8479.8%
1990$9,8809%
1989$9,0648%
1988$8,3926.5%
1987$7,879

Comparable Cost for Popular Majors

We've compared the out of state total cost of the most popular undergraduate areas of study at Southern Methodist University to the national average cost for colleges offering that major. This helps identify particular programs where this school offers more value.

Area of Study Graduates Comparative Cost
Finance, General Bachelor's Degree 147 76% costlier
Marketing/Marketing Management, General Bachelor's Degree 81 80% costlier
Accounting Bachelor's Degree 80 77% costlier
Liberal Arts and Sciences, General Studies and Humanities, Other Bachelor's Degree 50 56% costlier
Mechanical Engineering Bachelor's Degree 49 56% costlier
Business Administration and Management, General Bachelor's Degree 36 92% costlier
Film/Cinema/Video Studies Bachelor's Degree 31 32% costlier
Operations Research Bachelor's Degree 27 40% costlier
Art History, Criticism and Conservation Bachelor's Degree 24 35% costlier
Financial Planning and Services Bachelor's Degree 22 79% costlier
Drama and Dramatics/Theatre Arts, General Bachelor's Degree 22 56% costlier
Electrical and Electronics Engineering Bachelor's Degree 20 57% costlier
Spanish Language and Literature Bachelor's Degree 16 54% costlier
Fine/Studio Arts, General Bachelor's Degree 16 53% costlier
Real Estate Bachelor's Degree 14 59% costlier
Music Performance, General Bachelor's Degree 12 66% costlier
Civil Engineering, General Bachelor's Degree 9 56% costlier
Environmental/Environmental Health Engineering Bachelor's Degree 9 40% costlier
Public Policy Analysis, General Bachelor's Degree 9 21% costlier
Environmental Studies Bachelor's Degree 8 36% costlier
Chemistry, General Bachelor's Degree 8 59% costlier
Music, General Bachelor's Degree 8 60% costlier
Dance, General Bachelor's Degree 8 46% costlier
Music Teacher Education Bachelor's Degree 7 74% costlier
Geology/Earth Science, General Bachelor's Degree 7 60% costlier
International/Global Studies Bachelor's Degree 7 51% costlier
Voice and Opera Bachelor's Degree 7 50% costlier
Philosophy Bachelor's Degree 6 47% costlier
Anthropology Bachelor's Degree 6 47% costlier
French Language and Literature Bachelor's Degree 6 44% costlier
Psychology, General Bachelor's Degree 6 65% costlier
Economics, General Bachelor's Degree 6 49% costlier
Insurance Bachelor's Degree 6 69% costlier
Biochemistry Bachelor's Degree 5 42% costlier
Humanities/Humanistic Studies Bachelor's Degree 5 54% costlier
Religion/Religious Studies Bachelor's Degree 5 40% costlier
Computer Engineering, General Bachelor's Degree 5 56% costlier
General Studies Bachelor's Degree 5 95% costlier
Social Sciences, General Bachelor's Degree 4 72% costlier
German Language and Literature Bachelor's Degree 4 42% costlier
Physics, General Bachelor's Degree 4 51% costlier
English Language and Literature, General Bachelor's Degree 4 64% costlier
Geophysics and Seismology Bachelor's Degree 3 38% costlier
Keyboard Instruments Bachelor's Degree 3 48% costlier
Sport and Fitness Administration/Management Bachelor's Degree 3 76% costlier
Biology/Biological Sciences, General Bachelor's Degree 3 64% costlier
Political Science and Government, General Bachelor's Degree 3 59% costlier
History, General Bachelor's Degree 2 62% costlier
Music Therapy/Therapist Bachelor's Degree 2 55% costlier
Mathematics, General Bachelor's Degree 2 61% costlier
Music Theory and Composition Bachelor's Degree 2 41% costlier
Italian Studies Bachelor's Degree 1 7% costlier
Econometrics and Quantitative Economics Bachelor's Degree 1 28% costlier
Hispanic-American, Puerto Rican, and Mexican-American/Chicano Studies Bachelor's Degree 1 38% costlier
Sociology Bachelor's Degree 1 61% costlier
Statistics, General Bachelor's Degree 1 46% costlier
Public Relations/Image Management Bachelor's Degree 1 68% costlier
Creative Writing Bachelor's Degree 1 43% costlier
Computer Science Bachelor's Degree 1 58% costlier
Latin American Studies Bachelor's Degree 1 26% costlier
Engineering, General Bachelor's Degree 1 46% costlier
African-American/Black Studies Bachelor's Degree 1 40% costlier
Italian Language and Literature Bachelor's Degree 1 28% costlier
Journalism Bachelor's Degree 1 71% costlier
Advertising Bachelor's Degree 1 71% costlier

Calculators

Use the calculators below to formulate a college savings plan for Southern Methodist University 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 Southern Methodist University 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 Southern Methodist University student loan.

Prepayment Option

About Southern Methodist University

Southern Methodist University is a four year private college located in Dallas, Texas.  The school is affiliated with the United Methodist faith.  Full time enrollment is 8,378 and part time is 2,604.  For the 2011/2012 school year, the school received 11,217 applicants. 6,031 were admitted and 1,426 enrolled.

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

Address
Southern Methodist University
6425 Boaz St
Dallas, Texas
75275-0221

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Southern Methodist University is a private not for profit institution.

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