Tuition and Cost to Attend Saint Michael's College

Annual Total Cost

The annual total list price cost to go to Saint Michael's College was $49,940 for the 2013/2014 academic year. The cost is the same for all students regardless of Vermont residence status as there is no in-state discount.

Undergraduate Tuition

Tuition for Saint Michael's College is $38,690 for the 2013/2014 academic year. This is 58% more expensive than the national average private non-profit four year college tuition of $24,476. The cost is $13,911 and 56% more expensive than the average Vermont tuition of $24,779 for 4 year colleges. Tuition ranks 15th in Vermont amongst 4 year colleges for affordability and is the 3rd most expensive 4 year college in the state. Price does not vary by residence.

The school charges an additional fees of $325 in addition to tuition bringing the total effective in-state tuition to $39,015.

Housing Costs

On campus room and board is provided by the school at a cost of $9,725 per academic year. Students electing to live off campus elsewhere in Colchester should budget at least this amount.

Books and Supplies

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

Costs and Tuition for Saint Michael's College
Expenditure Price
Vermont Resident Total Cost $49,940
   In-State Tuition$38,690
   Other Fees$325
   Room and Board$9,725
   Books and Supplies$1,200
Non-Resident Total Cost $49,940
   Out-of-State Tuition$38,690
   Other Fees$325
   Room and Board$9,725
   Books and Supplies$1,200

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 $49,940 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 Saint Michael's College net price for in-state students receiving aid was $27,381* for the 2010/2011 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

92% of Saint Michael's College students received grant aid in 2010/2011. The average total aid amount was $16,526. 16 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 $3,963. To apply for a Pell Grant to attend Saint Michael's College, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Saint Michael's College
Financial Aid Summary
Average Annual Net Price$27,381*
Percent of Students Receiving Grant Aid92%
Average Total Grant Aid$16,526
Percent of Students Receiving Pell Grants16%
Average Amount of Pell Grant Aid$3,963

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 reported for the 2011-2012 academic year.

Family Income Avg. Net Price
$0 to $30,000$20,413
$30,001 to $48,000$21,538
$48,001 to $75,000$26,060
$75,001 to $110,000$27,653
$110,000+$31,667

Average Financial Aid Mix - $49,940 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $49,940. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

33%
14%
53%

Grants and Scholarships

 33% - $16,526

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

Federal Loans

 14% - $7,165

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

Out of Pocket

 53% -  $26,249

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 Saint Michael's 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 66/100 for Saint Michael's College. Considering an average net price paid of $27,381, this leads to an overall value ranking of 58/100. This places the school 222nd 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 Saint Michael's 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 Saint Michael's College is $199,760 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 $27,381 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $109,524**

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 $249,700 or $136,905 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 Saint Michael's College.

Vermont Resident Tuition Per Semester$19,345
Vermont Resident Total Cost Per Semester$24,970

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 Saint Michael's 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 Saint Michael's College
Price per credit hour$1,200
Cost for one class (3 credit hours)$3,600
Cost for one class (4 credit hours)$4,800



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. 71% of Saint Michael's College students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $7,165. The reported average student debt upon graduation is $33,054.

Example Loan Payments and Costs

How much are student loan payments for Saint Michael's 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 $109,524, 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 $137,226.66. This could be your effective total out of pocket cost of an education at Saint Michael's College. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 92% of students at this school who receive financial aid and you are paying an average annual net price of $27,381. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Saint Michael's 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.

Saint Michael's College Student Loan Payments
Example Payments
Monthly Loan Payment$1,143.56
Amount Borrowed$109,524.00
Interest Rate4.7%
Term10 years
Number of Monthly Payments120
Total Interest Cost$27,702.66
Sum of All Payments over 10 years$137,226.66

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend Saint Michael's 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 Saint Michael's 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 $137,226.66 would be needed to afford a $1,143.56 monthly payment in the example $109,524.00 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 Saint Michael's College in the future? In the past five years, this school's published in-state tuition and fee total rose from $28,515 to $36,240. This amounts to an average annual price increase of 5.4%. 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 $199,760.00. 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 Saint Michael's College.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2019$68,679$274,717
Estimated Cost in 10 years for students enrolling in 2024$87,654$350,616
Estimated Cost in 15 years for students enrolling in 2029 $111,871$447,484
Estimated Cost in 18 years for students enrolling in 2032 $129,505$518,019

Tuition History

What was tuition at Saint Michael's 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 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$33,2154%
2009$31,9406.7%
2008$29,9455%
2007$28,5156.5%
2006$26,7704.8%
2005$25,53513.9%
2004$22,4205.8%
2003$21,2007.7%
2002$19,6804.8%
2001$18,7826.3%
2000$17,6628.3%
1999$16,3103.6%
1998$15,7447.5%
1997$14,6406%
1996$13,8106%
1995$13,0304.8%
1994$12,4304.5%
1993$11,9006.6%
1992$11,16510.1%
1991$10,14011.3%
1990$9,11011.1%
1989$8,2007.2%
1988$7,6506%
1987$7,220

Comparable Cost for Popular Majors

We've compared the out of state total cost of the most popular undergraduate areas of study at Saint Michael's College to the national average for colleges offering each major. This demonstrats particular programs where this school may offer more value relative to other colleges.

Area of Study Graduates vs National Avg
Biology/Biological Sciences, General Bachelor's Degree 40 40% costlier
Journalism Bachelor's Degree 16 46% costlier
Sociology Bachelor's Degree 9 37% costlier
English Language and Literature, General Bachelor's Degree 7 40% costlier
Psychology, General Bachelor's Degree 7 40% costlier
American/United States Studies/Civilization Bachelor's Degree 6 10% costlier
Economics, General Bachelor's Degree 6 27% costlier
Elementary Education and Teaching Bachelor's Degree 6 58% costlier
History, General Bachelor's Degree 5 38% costlier
Engineering, General Bachelor's Degree 5 25% costlier
Drama and Dramatics/Theatre Arts, General Bachelor's Degree 5 33% costlier
Biochemistry Bachelor's Degree 4 21% costlier
Political Science and Government, General Bachelor's Degree 4 36% costlier
Art/Art Studies, General Bachelor's Degree 3 44% costlier
Religion/Religious Studies Bachelor's Degree 3 19% costlier
Physics, General Bachelor's Degree 3 29% costlier
Accounting Bachelor's Degree 3 51% costlier
Applied Linguistics Bachelor's Degree 3 41% costlier
Philosophy Bachelor's Degree 2 25% costlier
Business Administration and Management, General Bachelor's Degree 2 63% costlier
Information Science/Studies Bachelor's Degree 2 47% costlier
Spanish Language and Literature Bachelor's Degree 1 31% costlier
Chemistry, General Bachelor's Degree 1 35% costlier
Computer Science Bachelor's Degree 1 35% costlier
Multi-/Interdisciplinary Studies, Other Bachelor's Degree 1 35% costlier
French Language and Literature Bachelor's Degree 1 23% costlier
Ethnic, Cultural Minority, Gender, and Group Studies, Other Bachelor's Degree 1 15% costlier
Classics and Classical Languages, Literatures, and Linguistics Bachelor's Degree 1 8% costlier
Music, General Bachelor's Degree 1 37% costlier
Mathematics, General Bachelor's Degree 1 38% costlier

Calculators

Use the calculators below to formulate a college savings plan for Saint Michael's 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 Saint Michael's 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 Saint Michael's College student loan.

Prepayment Option

About Saint Michael's College

Saint Michael's College is a four year private college located in Colchester, Vermont.  The school is affiliated with the Roman Catholic faith.  Full time enrollment is 2,012 and part time is 415.  For the 2011/2012 school year, the school received 4,578 applicants. 3,570 were admitted and 547 enrolled.

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

Address
Saint Michael's College
One Winooski Park
Colchester, Vermont
5439

For Profit / Not For Profit Status

Saint Michael's College is a private not for profit institution.

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