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Annual Costs

Undergraduate Tuition

South Dakota School of Mines and Technology tuition is $7,380 per year for in-state residents. This is 5% more expensive than the national average public four year tuition of $7,056. The cost is 44% cheaper than the average South Dakota tuition of $13,251 for 4 year colleges. Tuition ranks 8th in South Dakota amongst 4 year colleges for affordability and is the 11th most expensive 4 year college in the state. If attending from out-of-state, the tuition is $11,560 which represents a 57% premium.

The school charges an additional fees of $3,020 in addition to tuition bringing the total effective in-state tuition to $10,400.

Housing Costs

On campus room and board is provided by the school at a cost of $8,170 per academic year. Students electing to live off campus elsewhere in Rapid City should budget at least this amount.

Books and Supplies

The estimated annual cost for books and supplies is $2,020.

Other Living Expenses

If living on-campus, students should budget for $4,000 in additional living expenses. Off-campus students should budget for $4,400 in other miscellaneous living expenses.

Total Costs

The total tuition and living expense budget for in-state South Dakota residents to go to South Dakota School of Mines and Technology is $24,590 for the 2017/2018 academic year. Out-of-state students who don't have South Dakota residence can expect a one year cost of $28,770.

Citation: Price data from the U.S. Department of Education's 2017-2018 and 2016-2017 IPEDS survey response for South Dakota School of Mines and Technology and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for South Dakota School of Mines and Technology
Estimated Budgets
South Dakota Resident Total Budget $24,590
   In-State Tuition$7,380
   Other Fees$3,020
   Room and Board$8,170
   On-Campus Other Budget$4,000
   Books and Supplies$2,020
Non-Resident Total Budget $28,770
   Out-of-State Tuition$11,560
   Other Fees$3,020
   Room and Board$8,170
   On-Campus Other Budget$4,000
   Books and Supplies$2,020

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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 $24,590 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 South Dakota School of Mines and Technology net price for in-state students is $17,510* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

74% of South Dakota School of Mines and Technology students received grant aid in 2014/2015. The average total aid amount was $3,508. 26 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 $3,721. To apply for a Pell Grant to attend South Dakota School of Mines and Technology, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for South Dakota School of Mines and Technology
Financial Aid Summary
Average Annual Net Price$17,510*
Percent of Students Receiving Grant Aid74%
Average Total Grant Aid$3,508
Percent of Students Receiving Pell Grants26%
Average Amount of Pell Grant Aid$3,721

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$14,211
$30,001 to $48,000$15,765
$48,001 to $75,000$18,217
$75,001 to $110,000$19,411
$110,000+$19,383

Average Financial Aid Mix - $24,590 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $24,590. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

17%
28%
55%

Grants and Scholarships

 17% - $3,508

Money granted to you by the U.S. Department of Education, South Dakota School of Mines and Technology or other organizations. These are not loans and do not need to be repaid.

Federal Loans

 28% - $5,824

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

Out of Pocket

 55% -  $11,258

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. South Dakota School of Mines and Technology
University of Colorado Denver5.4% more expensive
South Dakota State University2.6% less expensive
Minnesota State University Moorhead0.4% more expensive
North Dakota State University Main Campus2.4% less expensive
University of North Dakota5.9% 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 South Dakota School of Mines and Technology.

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 South Dakota School of Mines and Technology is $98,360 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 $13,497 in-state net price as the basis. Applying this cost over 4 would estimate the cost of a degree at $53,988**

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 $122,950 or $67,485 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 South Dakota School of Mines and Technology.

South Dakota Resident Tuition Per Semester$3,690
South Dakota Resident Total Cost Per Semester$12,295
Non-South Dakota Resident Tuition Per Semester$5,780
Non-South Dakota Resident Total Cost Per Semester$14,385

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 South Dakota School of Mines and Technology 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 South Dakota School of Mines and Technology
Price per credit hour for South Dakota residents$246
Cost for one class for South Dakota residents (3 credit hours)$738
Price per credit hour for out of state residents$385
Cost for one class for out of state residents (3 credit hours)$1,155
Cost for one class for out of state residents (4 credit hours)$1,540

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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. 60% of South Dakota School of Mines and Technology students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $5,824. The reported average student debt upon graduation is $21,353.

Example Loan Payments and Costs

How much are student loan payments for South Dakota School of Mines and Technology? 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 $53,988, 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 $66,986.73. This could be your effective total out of pocket cost of an education at South Dakota School of Mines and Technology. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 74% of students at this school who receive financial aid and you are paying an average annual net price of $13,497. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our South Dakota School of Mines and Technology 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.

South Dakota School of Mines and Technology Student Loan Payments
Example Payments
Monthly Loan Payment$558.22
Amount Borrowed$53,988.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$12,998.73
Sum of All Payments over 10 years$66,986.73

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend South Dakota School of Mines and Technology? 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 South Dakota School of Mines and Technology, 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 $66,986.73 would be needed to afford a $558.22 monthly payment in the example $53,988.00 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 South Dakota School of Mines and Technology in the future? In the past four years, this school's published in-state tuition and fee total rose from $3,900 to $7,380. This amounts to an average annual price increase of 17.8%. 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 $98,360.00. 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 South Dakota School of Mines and Technology.

Annual4 Year Degree
Estimated Cost in 5 years for students enrolling in 2024$33,817$135,268
Estimated Cost in 10 years for students enrolling in 2029$43,160$172,640
Estimated Cost in 15 years for students enrolling in 2034 $55,084$220,337
Estimated Cost in 18 years for students enrolling in 2037 $63,767$255,068

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at South Dakota School of Mines and Technology 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
Mechanical Engineering Bachelor's Degree 43 32% cheaper
Civil Engineering, General Bachelor's Degree 32 32% cheaper
Industrial Engineering Bachelor's Degree 25 29% cheaper
Chemical Engineering Bachelor's Degree 25 37% cheaper
Multi-/Interdisciplinary Studies, Other Bachelor's Degree 16 31% cheaper
Geology/Earth Science, General Bachelor's Degree 14 31% cheaper
Computer and Information Sciences, General Bachelor's Degree 13 22% cheaper
Electrical and Electronics Engineering Bachelor's Degree 13 32% cheaper
Mining and Mineral Engineering Bachelor's Degree 11 24% cheaper
Metallurgical Engineering Bachelor's Degree 11 22% cheaper
General Studies Associate's Degree 8 36% costlier
Geological/Geophysical Engineering Bachelor's Degree 6 32% cheaper
Environmental/Environmental Health Engineering Bachelor's Degree 6 39% cheaper
Chemistry, General Bachelor's Degree 6 31% cheaper
Computer Engineering, General Bachelor's Degree 5 32% cheaper
Mathematics, General Bachelor's Degree 5 30% cheaper
Physics, General Bachelor's Degree 4 35% cheaper

Calculators

Use the calculators below to formulate a college savings plan for South Dakota School of Mines and Technology 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 South Dakota School of Mines and Technology 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 South Dakota School of Mines and Technology student loan.

Prepayment Option

About South Dakota School of Mines and Technology

South Dakota School of Mines and Technology is a four year public college located in Rapid City, South Dakota.  Full time enrollment is 2,221 and part time is 588. Learn more about getting accepted at South Dakota School of Mines and Technology at CollegeSimply.

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

Address
South Dakota School of Mines and Technology
501 E Saint Joseph St
Rapid City, South Dakota
57701-3995

For Profit / Not For Profit Status

South Dakota School of Mines and Technology 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.

South Dakota School of Mines and Technology cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=219347 IPEDS survey data.