OVERVIEWPROGRAMS AND TUITIONADMISSIONS FINANCIAL AID

Ferrum College Tuition and Fees

A private, United Methodist university, Ferrum College is situated in Ferrum, Virginia. Across all the courses offered at Ferrum College, the enrolment stands at 1,050. To teach various courses to the students, the school has employed a total of 80 faculty. At FC, around 43% of the students are females and 57% are males. Further, around 98% of the students are 24 and under. Some of the notable alumni which the school has produced in its several years of existence are Billy Wagner, Chris Warre

$34,060

Tuition

$48,530

Cost of Attendance

$21,969

Net Price

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Ferrum College Tuition and Fees

Ferrum College offers undergraduate programs across different fields, providing quality education to students. The expense of education here is very moderate, compared to the tuition fees charged by different colleges. The 2020 - 2021 official data shows that the estimated average cost for students pursuing undergraduate courses at Ferrum College comes to around $35,365, which includes tuition and other expenses as well. The housing costs $11,980, books and supplies cost $800, while the other expenses add up to $2,570.

Total Cost of Attendance

Student type	In-state	Out-State
Tuition & Fees	$34,175	$34,175
Book & Supplies	$800	$800
Room & Board cost	$11,875	$11,875
Other Expenses	$1,680	$1,680
Total Cost of Attendance	$48,530	$48,530

Coming to the cost of attendance, students need to understand that the tuition fee is just a single aspect of the expenses that come under the overall cost of attending the university. There are several other expenses that are involved in the cost of attending the university, which primarily includes housing, dining, textbooks, supplies, and the cost of living. What's more, at Ferrum College, the total tuition and fees for the enrolled students come out to be around $35,365 in a year. In addition, the students will be needed to pay an average expense of $800 for books and supplies, $11,980 toward room and boarding, and $2,570 for different other expenses in a year. So, the overall cost of attending FC comes out to be about $50,715 per year, according to the most recent information available.

Average Net Price by Family Income

Net Price

$21,969

Family Income

Avg. Net Price

$0 to $30,000

$19,577

$30,001 to $48,000

$20,248

$48,001 to $75,000

$21,752

$75,001 to $110,000

$26,445

$110,000+

$26,634

The net price of attending Ferrum College is nothing but the actual amount that the students are required to pay in a year. It depends upon the annual family income of the applicant. Generally, the higher the family income of the candidate, the higher is the net amount to be paid. Simply put, the family income of the candidate is a key factor in determining the net amount. At FC, the average net price is estimated to be $23,010. For students with a family income below $30,000, the estimated net price is $19,806, while for the individuals who fall in the $30,001-$48,000 income bracket, the net cost is $19,545. Meanwhile, the net price stands at $22,197 for the $48,001-$75,000 income bracket and at $26,561 for an income between $75,001 and $110,000. This amount adds up to $27,542 for students whose annual family income is more than $110,000.

Student Loans

Example Loans

$71,128

Stafford Loan Interest

4.5%

Time to Pay off Student Loan

10 years

Example monthly payment

$738

Total interest paid

$17,450

Sum of Loan Payments

$88,578

To have a realistic understanding of how much it will cost to study at Ferrum College here is an example one can consider to estimate the payment amounts one will incur with a student loan. Take a loan of $71,128 for example. This will result in a $8,858 payment to be made each year. We can assume that the interest rate is 4.5% post any refinancing or consolidation activities with a 10 years repayment plan. Then the total payment made towards the loan is $88,578 which is $17,450 in addition to the principal amount, which constitutes the interest payment made throughout the life of the loan.

Undergraduate Tuition and Fees

Student type	In-state	Out-State
Tuition & Fees	$34,175	$34,175
Room & Board Cost	$11,875	$11,875
Total Tuition & Fees	$46,050	$46,050

For students pursuing undergraduate courses at Ferrum College, the tuition and fees are estimated to be $35,365 per year. Moreover, the applicants must also pay an amount of $11,980 towards room and boarding charges. In this way, for one year, the total cost for undergraduate students comes to around $50,715.

Cost Per Credit Hour

Degree	Year	Cost per Credit hour
Graduate	2018 - 2019	N/A
Undergraduate	2018 - 2019	$685

The total program cost divided by the total number of credit hours of the program – also called cost per credit hour – that the student has to pay to attend Ferrum College varies for graduate and undergraduate courses. The cost per credit hour for the graduate courses at the college sits at $272.

Campus Housing Expenses

Housing & other expenses	On Campus	Off Campus
Room & Board	$11,875	$11,875
Other Expense	$1,680	$1,680
Book & Supplies	$800	$800

As far as the housing and related charges are concerned, these expenses remain the same for both on-campus or off-campus candidates at FC. To note, students have to pay $14,550 per year toward these facilities. On the other hand, the room and board charges that the students have to pay total around $11,980 per year. In addition to that, the candidates will have to pay an amount of about $800 for books and supplies. Meanwhile, the other expenses that a student needs to plan for add up to $2,570.

Campus Housing Expenses

Housing & Other Expenses

Room & Boards

On Campus

$11,875

Off Campus

$11,875

Housing & Other Expenses

Other Expenses

On Campus

$1,680

Off Campus

$1,680

Housing & Other Expenses

Book & Supplies

On Campus

$800

Off Campus

$800

Projected Price for a 4 year degree

As per official data, the current projected cost for a four-year bachelor's degree, along with the living expenses, at the college is estimated to be around $255,403. In comparison, the total expenses for undergraduate students stood at $23,010 for 2018-2019, $21,969 for 2017-2018, and $23,184 for 2016-2017.

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