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Annual Costs

Undergraduate Tuition

Tuition for Institute of Business and Medical Careers is $12,960 for the 2018/2019 academic year. This is 6% cheaper than the national average private for-profit two year college tuition of $13,846. The cost is 90% more expensive than the average Colorado tuition of $6,832 for 2 year colleges. Tuition ranks 19th in Colorado amongst 2 year colleges for affordability and is the 4th most expensive 2 year college in the state. Price does not vary by residence.

Housing Costs

Institute of Business and Medical Careers doesn't offer on campus housing. If you're not living with family you will need to budget for food and housing in the Fort Collins area just like you would for a college with dorms. The estimated rent and meal expense per academic year for off campus housing is $11,472.

Books and Supplies

The estimated annual cost for books and supplies is $1,950.

Other Living Expenses

Off-campus students should budget for $1,480 in other miscellaneous living expenses.

Total Costs

The annual tuition and living expense budget to go to IBMC was $27,862 for the 2018/2019 academic year. The cost is the same for all students regardless of Colorado residence status as there is no in-state discount. Students residing at home with parents providing food and housing can expect a total cost of $16,390.

Citation: Price data from the U.S. Department of Education's 2018-2019 and 2017-2018 IPEDS survey response for Institute of Business and Medical Careers and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for Institute of Business and Medical Careers
Estimated Budgets
Colorado Resident Total Budget (Living Off Campus)$27,862
   In-State Tuition$12,960
   Other Fees$0
   Off-Campus Housing Budget$11,472
   Off-Campus Other Budget$1,480
   Books and Supplies$1,950
Colorado Resident Total Budget (Living with Parents)$16,390
   In-State Tuition$12,960
   Other Fees$0
   Family Provided Room and Board$0
   With-Family Other Living Budget$1,480
   Books and Supplies$1,950
Non-Resident Total Budget (Living Off Campus)$27,862
   Out-of-State Tuition$12,960
   Other Fees$0
   Off-Campus Housing Budget$11,472
   Off-Campus Other Budget$1,480
   Books and Supplies$1,950

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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 $27,862 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 IBMC net price for in-state students is $21,014* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

86% of Institute of Business and Medical Careers students received grant aid in 2014/2015. The average total aid amount was $2,834. 70 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 $3,230. To apply for a Pell Grant to attend Institute of Business and Medical Careers, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Institute of Business and Medical Careers
Financial Aid Summary
Average Annual Net Price$21,014*
Percent of Students Receiving Grant Aid86%
Average Total Grant Aid$2,834
Percent of Students Receiving Pell Grants70%
Average Amount of Pell Grant Aid$3,230

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$16,642
$30,001 to $48,000$20,622
$48,001 to $75,000$22,622
$75,001 to $110,000$23,156
$110,000+$23,605

Average Financial Aid Mix - $27,862 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $27,862. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

11%
25%
64%

Grants and Scholarships

 11% - $2,834

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

Federal Loans

 25% - $6,609

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

Out of Pocket

 64% -  $16,939

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.

Tuition Comparison to Similar Private Colleges in the Region

School Cost vs. Institute of Business and Medical Careers
Redstone College15.2% more expensive
Prince Institute Rocky Mountains32.1% less expensive
Colorado School of Healing Arts22.2% less expensive
Bel Rea Institute of Animal Technology4.8% less expensive
Ecotech Institute3.3% more expensive

Cost of a Degree

Being a school offering two year programs, prospective students should consider the multi year outlay when budgeting the cost for two years at Institute of Business and Medical Careers.

Estimated 2 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 2 year associate degree at IBMC is $55,724 for students graduating in normal time. This methodology for estimating the 2 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 $16,892 in-state net price as the basis. Applying this cost over 2 would estimate the cost of a degree at $33,784**

**Based on a 2 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

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. 90% of Institute of Business and Medical Careers students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $6,609.

Example Loan Payments and Costs

How much are student loan payments for Institute of Business and Medical Careers? 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 $33,784, 100% of the estimated average net price for a two year program and paid nothing while enrolled. The total of all payments including interest would sum $41,918.20. This could be your effective total out of pocket cost of an education at Institute of Business and Medical Careers. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 86% of students at this school who receive financial aid and you are paying an average annual net price of $16,892. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Institute of Business and Medical Careers 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.

Institute of Business and Medical Careers Student Loan Payments
Example Payments
Monthly Loan Payment$349.32
Amount Borrowed$33,784.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$8,134.20
Sum of All Payments over 10 years$41,918.20

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend IBMC? 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 Institute of Business and Medical Careers, 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 $41,918.20 would be needed to afford a $349.32 monthly payment in the example $33,784.00 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 Institute of Business and Medical Careers in the future? In the past four years, this school's published in-state tuition and fee total rose from $11,340 to $12,960. This amounts to an average annual price increase of 2.9%. 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 2 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current 2 year cost of $55,724.00. 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 Institute of Business and Medical Careers.

Annual2 Year Degree
Estimated Cost in 5 years for students enrolling in 2025$36,449$72,898
Estimated Cost in 10 years for students enrolling in 2030$46,519$93,038
Estimated Cost in 15 years for students enrolling in 2035 $59,371$118,742
Estimated Cost in 18 years for students enrolling in 2038 $68,730$137,459

Calculators

Use the calculators below to formulate a college savings plan for Institute of Business and Medical Careers 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 Institute of Business and Medical Careers 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 Institute of Business and Medical Careers student loan.

Prepayment Option

About Institute of Business and Medical Careers

Institute of Business and Medical Careers is a two year private college located in Fort Collins, Colorado.  Full time enrollment is 405 and part time is 0.  Institute of Business and Medical Careers has an open admission policy meaning that any prospective student who has completed high school or attained a GED certificate may enroll in classes. Learn more about Institute of Business and Medical Careers at CollegeSimply.

Only undergraduate degrees are offered at this school.

Address
Institute of Business and Medical Careers
3842 South Mason Street
Fort Collins, Colorado
80525

For Profit / Not For Profit Status

Institute of Business and Medical Careers is a private, for profit school.

Institute of Business and Medical Careers cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=372329 IPEDS survey data.