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. The breakdown of this total cost is detailed as follows.

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 "other" fee 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 year. If you elect to live off campus elsewhere in Dallas, you should budget at least this amount.

Books and Supplies

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

Cost Itemization

Costs and Tuition Detail for Southern Methodist University
Expenditure Price
Texas Resident Total Cost$58,555
Non-Resident Total Cost$58,555
   In-State Tuition$38,870
   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 to help defray the cost of tuition. 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

Estimated 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.

20856
6600
31099

 36% - $20,856

Grants and Scholarships

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

 11% - $6,600

Federal Loans

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

 53% -  $31,099

Out of Pocket

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 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 the cost to go to Southern Methodist University, 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

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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. 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.

For Profit / Not For Profit Status

Southern Methodist University is a private not for profit institution.

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

Cost for Popular Majors

Below are the most popular undergraduate areas of study at Southern Methodist University ranked by degrees conferred during the 2010/2011 academic year along with their estimated total program cost. Please consult the school's website for further information as actual costs for specific program may vary. Price estimates assume graduation in normal time. Our methodology for estimating these costs is a two or four year multiple of the current one year tuition and living cost of $58,555. Associates degrees are assumed to be completed in two years and bachelors degrees are assumed to take four years.

Area of Study Graduates Estimated Degree + Living Expense Cost
Finance, General Bachelor's Degree 147 $234,220
4 year estimate
Marketing/Marketing Management, General Bachelor's Degree 81 $234,220
4 year estimate
Accounting Bachelor's Degree 80 $234,220
4 year estimate
Liberal Arts and Sciences, General Studies and Humanities, Other Bachelor's Degree 50 $234,220
4 year estimate
Mechanical Engineering Bachelor's Degree 49 $234,220
4 year estimate
Business Administration and Management, General Bachelor's Degree 36 $234,220
4 year estimate
Film/Cinema/Video Studies Bachelor's Degree 31 $234,220
4 year estimate
Operations Research Bachelor's Degree 27 $234,220
4 year estimate
Art History, Criticism and Conservation Bachelor's Degree 24 $234,220
4 year estimate
Drama and Dramatics/Theatre Arts, General Bachelor's Degree 22 $234,220
4 year estimate
Financial Planning and Services Bachelor's Degree 22 $234,220
4 year estimate
Electrical and Electronics Engineering Bachelor's Degree 20 $234,220
4 year estimate
Spanish Language and Literature Bachelor's Degree 16 $234,220
4 year estimate
Fine/Studio Arts, General Bachelor's Degree 16 $234,220
4 year estimate
Real Estate Bachelor's Degree 14 $234,220
4 year estimate
Music Performance, General Bachelor's Degree 12 $234,220
4 year estimate
Public Policy Analysis, General Bachelor's Degree 9 $234,220
4 year estimate
Civil Engineering, General Bachelor's Degree 9 $234,220
4 year estimate
Environmental/Environmental Health Engineering Bachelor's Degree 9 $234,220
4 year estimate
Dance, General Bachelor's Degree 8 $234,220
4 year estimate
Music, General Bachelor's Degree 8 $234,220
4 year estimate
Environmental Studies Bachelor's Degree 8 $234,220
4 year estimate
Chemistry, General Bachelor's Degree 8 $234,220
4 year estimate
Music Teacher Education Bachelor's Degree 7 $234,220
4 year estimate
Voice and Opera Bachelor's Degree 7 $234,220
4 year estimate
International/Global Studies Bachelor's Degree 7 $234,220
4 year estimate
Geology/Earth Science, General Bachelor's Degree 7 $234,220
4 year estimate
Anthropology Bachelor's Degree 6 $234,220
4 year estimate
Economics, General Bachelor's Degree 6 $234,220
4 year estimate
French Language and Literature Bachelor's Degree 6 $234,220
4 year estimate
Philosophy Bachelor's Degree 6 $234,220
4 year estimate
Insurance Bachelor's Degree 6 $234,220
4 year estimate
Psychology, General Bachelor's Degree 6 $234,220
4 year estimate
Computer Engineering, General Bachelor's Degree 5 $234,220
4 year estimate
General Studies Bachelor's Degree 5 $234,220
4 year estimate
Humanities/Humanistic Studies Bachelor's Degree 5 $234,220
4 year estimate
Biochemistry Bachelor's Degree 5 $234,220
4 year estimate
Religion/Religious Studies Bachelor's Degree 5 $234,220
4 year estimate
Social Sciences, General Bachelor's Degree 4 $234,220
4 year estimate
German Language and Literature Bachelor's Degree 4 $234,220
4 year estimate
English Language and Literature, General Bachelor's Degree 4 $234,220
4 year estimate
Physics, General Bachelor's Degree 4 $234,220
4 year estimate
Political Science and Government, General Bachelor's Degree 3 $234,220
4 year estimate
Biology/Biological Sciences, General Bachelor's Degree 3 $234,220
4 year estimate
Keyboard Instruments Bachelor's Degree 3 $234,220
4 year estimate
Sport and Fitness Administration/Management Bachelor's Degree 3 $234,220
4 year estimate
Geophysics and Seismology Bachelor's Degree 3 $234,220
4 year estimate
Music Theory and Composition Bachelor's Degree 2 $234,220
4 year estimate
Mathematics, General Bachelor's Degree 2 $234,220
4 year estimate
Music Therapy/Therapist Bachelor's Degree 2 $234,220
4 year estimate
History, General Bachelor's Degree 2 $234,220
4 year estimate
Computer Science Bachelor's Degree 1 $234,220
4 year estimate
Engineering, General Bachelor's Degree 1 $234,220
4 year estimate
Econometrics and Quantitative Economics Bachelor's Degree 1 $234,220
4 year estimate
Public Relations/Image Management Bachelor's Degree 1 $234,220
4 year estimate
Advertising Bachelor's Degree 1 $234,220
4 year estimate
Sociology Bachelor's Degree 1 $234,220
4 year estimate
Latin American Studies Bachelor's Degree 1 $234,220
4 year estimate
Italian Studies Bachelor's Degree 1 $234,220
4 year estimate
African-American/Black Studies Bachelor's Degree 1 $234,220
4 year estimate
Hispanic-American, Puerto Rican, and Mexican-American/Chicano Studies Bachelor's Degree 1 $234,220
4 year estimate
Italian Language and Literature Bachelor's Degree 1 $234,220
4 year estimate
Creative Writing Bachelor's Degree 1 $234,220
4 year estimate
Statistics, General Bachelor's Degree 1 $234,220
4 year estimate
Journalism Bachelor's Degree 1 $234,220
4 year estimate

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.

Learn more about getting in to Southern Methodist University at CollegeSimply.

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

Calculators

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