Quantcast

Annual Costs

Undergraduate Tuition

Francis Marion University tuition is $10,178 per year for in-state residents. This is 44% more expensive than the national average public four year tuition of $7,056. The cost is 41% cheaper than the average South Carolina tuition of $17,257 for 4 year colleges. Tuition ranks 8th in South Carolina amongst 4 year colleges for affordability and is the 30th most expensive 4 year college in the state. If attending from out-of-state, the tuition is $20,354 which represents a 100% premium.

The school charges an additional fees of $564 in addition to tuition bringing the total effective in-state tuition to $10,742.

Housing Costs

On campus room and board is provided by the school at a cost of $7,948 per academic year. Students electing to live off campus elsewhere in Florence should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $1,008.

Other Living Expenses

If living on-campus, students should budget for $3,544 in additional living expenses. Off-campus students should budget for $3,544 in other miscellaneous living expenses.

Total Costs

The total tuition and living expense budget for in-state South Carolina residents to go to Francis Marion University is $23,242 for the 2017/2018 academic year. Out-of-state students who don't have South Carolina residence can expect a one year cost of $33,418.

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

Costs and Tuition for Francis Marion University
Estimated Budgets
South Carolina Resident Total Budget $23,242
   In-State Tuition$10,178
   Other Fees$564
   Room and Board$7,948
   On-Campus Other Budget$3,544
   Books and Supplies$1,008
Non-Resident Total Budget $33,418
   Out-of-State Tuition$20,354
   Other Fees$564
   Room and Board$7,948
   On-Campus Other Budget$3,544
   Books and Supplies$1,008

Advertisement

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 $23,242 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 Francis Marion University net price for in-state students is $10,485* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

98% of Francis Marion University students received grant aid in 2014/2015. The average total aid amount was $8,079. 66 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 $4,681. To apply for a Pell Grant to attend Francis Marion University, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Francis Marion University
Financial Aid Summary
Average Annual Net Price$10,485*
Percent of Students Receiving Grant Aid98%
Average Total Grant Aid$8,079
Percent of Students Receiving Pell Grants66%
Average Amount of Pell Grant Aid$4,681

Average Net Price for In-State Students 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$9,491
$30,001 to $48,000$9,845
$48,001 to $75,000$12,100
$75,001 to $110,000$13,666
$110,000+n/a

Average Financial Aid Mix - $23,242 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $23,242. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

41%
34%
25%

Grants and Scholarships

 41% - $8,079

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

Federal Loans

 34% - $6,702

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

Out of Pocket

 25% -  $4,917

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


*Reported Average Annual Net Price for in state 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 Public Colleges in the Region

School Cost vs. Francis Marion University
University of South Carolina Aiken0.1% less expensive
North Carolina A & T State University65.2% less expensive
Lander University5.1% more expensive
Augusta State University55.7% less expensive
University of South Carolina Beaufort0.9% 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 Francis Marion 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 Francis Marion University is $92,968 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 $16,267 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $65,068**

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 $116,210 or $81,335 using an average net price.

**Based on a 4 year multiple of Average Annual Net Price for in state 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

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 Francis Marion University.

South Carolina Resident Tuition Per Semester$5,089
South Carolina Resident Total Cost Per Semester$11,621
Non-South Carolina Resident Tuition Per Semester$10,177
Non-South Carolina Resident Total Cost Per Semester$16,709

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 Francis Marion 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 Francis Marion University
Price per credit hour for South Carolina residents$509
Cost for one class for South Carolina residents (3 credit hours)$1,527
Price per credit hour for out of state residents$1,018
Cost for one class for out of state residents (3 credit hours)$3,054
Cost for one class for out of state residents (4 credit hours)$4,072

Advertisements

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. 69% of Francis Marion University students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $6,702. The reported average student debt upon graduation is $30,977.

Example Loan Payments and Costs

How much are student loan payments for Francis Marion 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 $65,068, 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 $80,734.47. This could be your effective total out of pocket cost of an education at Francis Marion University. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 98% of students at this school who receive financial aid and you are paying an average annual net price of $16,267. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Francis Marion 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.

Francis Marion University Student Loan Payments
Example Payments
Monthly Loan Payment$672.79
Amount Borrowed$65,068.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$15,666.47
Sum of All Payments over 10 years$80,734.47

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend Francis Marion 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 Francis Marion 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 $80,734.47 would be needed to afford a $672.79 monthly payment in the example $65,068.00 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 Francis Marion University in the future? In the past four years, this school's published in-state tuition and fee total rose from $8,708 to $10,178. 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 in-state 4 year cost of $92,968.00. 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 Francis Marion University.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2024$31,963$127,853
Estimated Cost in 10 years for students enrolling in 2029$40,794$163,176
Estimated Cost in 15 years for students enrolling in 2034 $52,065$208,259
Estimated Cost in 18 years for students enrolling in 2037 $60,271$241,085

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at Francis Marion University 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
Registered Nursing/Registered Nurse Bachelor's Degree 80 7% cheaper
Psychology, General Bachelor's Degree 57 17% cheaper
Elementary Education and Teaching Bachelor's Degree 22 6% cheaper
Mass Communication/Media Studies Bachelor's Degree 20 12% cheaper
English Language and Literature, General Bachelor's Degree 19 17% cheaper
Marketing/Marketing Management, General Bachelor's Degree 18 8% cheaper
Early Childhood Education and Teaching Bachelor's Degree 18 4% cheaper
History, General Bachelor's Degree 17 18% cheaper
Physics, General Bachelor's Degree 9 24% cheaper
Management Information Systems, General Bachelor's Degree 9 9% cheaper
Art/Art Studies, General Bachelor's Degree 8 15% cheaper
Economics, General Bachelor's Degree 7 25% cheaper
Junior High/Intermediate/Middle School Education and Teaching Bachelor's Degree 6 2% cheaper
Liberal Arts and Sciences/Liberal Studies Bachelor's Degree 5 17% cheaper
Computer and Information Sciences, General Bachelor's Degree 5 9% cheaper
Engineering Technologies and Engineering-Related Fields, Other Bachelor's Degree 4 7% costlier
Political Science and Government, General Bachelor's Degree 3 20% cheaper
Mathematics, General Bachelor's Degree 2 19% cheaper
Business/Managerial Economics Bachelor's Degree 2 17% cheaper
Biology/Biological Sciences, General Bachelor's Degree 2 17% cheaper
Foreign Languages and Literatures, General Bachelor's Degree 2 16% cheaper
International Relations and Affairs Bachelor's Degree 1 29% cheaper
Finance, General Bachelor's Degree 1 10% cheaper
Sociology Bachelor's Degree 1 19% cheaper
Business Administration and Management, General Bachelor's Degree 1 3% cheaper
Drama and Dramatics/Theatre Arts, General Bachelor's Degree 1 21% cheaper
Chemistry, General Bachelor's Degree 1 20% cheaper
Art Teacher Education Bachelor's Degree 1 8% cheaper
Accounting Bachelor's Degree 1 10% cheaper

Calculators

Use the calculators below to formulate a college savings plan for Francis Marion 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 Francis Marion 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 Francis Marion University student loan.

Prepayment Option

About Francis Marion University

Francis Marion University is a four year public college located in Florence, South Carolina.  Full time enrollment is 3,216 and part time is 658. Learn more about getting accepted at Francis Marion University at CollegeSimply.

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

Address
Francis Marion University
4822 East Palmetto Street
Florence, South Carolina
29506

For Profit / Not For Profit Status

Francis Marion University is a public not for profit institution. Public schools often represent the best value for your education dollar, especially when students qualify for in-state tuition.

Francis Marion University cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=218061 IPEDS survey data.