McPherson College Tuition 2021| The College Monk

$28,160

Tuition

$42,118

Cost of Attendance

$22,094

Net Price

McPherson College Tuition and Fees

McPherson College offers undergraduate and postgraduate 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 McPherson College comes to around $30,077, which includes tuition and other expenses as well. While housing costs $9,063, the charges for books and supplies and other expenses stand at $1,420 and $5,657, respectively.

Total Cost of Attendance

Student type	In-state	Out-State
Tuition & Fees	$28,951	$28,951
Book & Supplies	$1,420	$1,420
Room & Board cost	$8,411	$8,411
Other Expenses	$3,336	$3,336
Total Cost of Attendance	$42,118	$42,118

As for the cost of attending the university, students should understand that the tuition forms only a portion of the expenses that are involved in the overall cost of attendance. They will be required to plan for various other expenses associated with the cost of attendance, including lodging, dining, textbooks, supplies, and the cost of living, among other things. For students attending the university, the total tuition and fees for one year add up to about $30,077. In addition, the students will be needed to pay an average expense of $1,420 for books and supplies, $8,796 toward room and boarding, and $5,657 for different other expenses in a year. Therefore, the estimated cost of attendance for one year at MC is around $45,950, as per the available information.

Average Net Price by Family Income

Net Price

$22,094

Family Income

Avg. Net Price

$0 to $30,000

$19,554

$30,001 to $48,000

$18,670

$48,001 to $75,000

$20,566

$75,001 to $110,000

$23,339

$110,000+

$25,372

The net price of attending McPherson 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. While the actual net cost is subject to one’s family income bracket, the average net price is estimated to be $24,672 at MC. Candidates whose annual family income is less than $30,000 will have to pay a net amount of $23,358. For the individuals whose income is somewhere between $30,001 and $48,000, the amount comes to $18,674. Meanwhile, the net price stands at $22,187 for the $48,001-$75,000 income bracket and at $25,863 for an income between $75,001 and $110,000. This amount adds up to $26,711 for students whose annual family income is more than $110,000.

Student Loans

Example Loans

$73,848

Stafford Loan Interest

4.5%

Time to Pay off Student Loan

10 years

Example monthly payment

$766

Total interest paid

$18,118

Sum of Loan Payments

$91,966

To have a realistic understanding of how much it will cost to study at McPherson College here is an example one can consider to estimate the payment amounts one will incur with a student loan. Take a loan of $73,848 for example. This will result in a $9,197 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 $91,966 which is $18,118 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	$28,951	$28,951
Room & Board Cost	$8,411	$8,411
Total Tuition & Fees	$37,362	$37,362

At McPherson College, the tuition and fees for students who are pursuing undergraduate courses are estimated to be around $30,077 in a year. They would also be required to pay around $8,796 for their room and boarding expenses. Accordingly, the overall cost for undergraduate students at the college totals about $45,950 per year, based on the available data.

Graduate Tuition and Fees

	In-state	Out-State
Tuition	$3,375	$3,375
Fees	N/A	N/A

Moving on to the tuition and fees charged for students who wish to join postgraduate programs offered at MC, the amount stands at $4,200 per year. It is interesting to note that McPherson College does not charge any graduation fees from students.

Cost Per Credit Hour

Degree	Year	Cost per Credit hour
Graduate	2018 - 2019	$375
Undergraduate	2018 - 2019	$510

The cost per credit hour – the total program cost divided by the total number of credit hours of the program – that the student has to pay to attend McPherson College varies between graduate and undergraduate degrees. As per the 2019-2020 fee structure, the cost per credit hour for graduate courses is $70 and for undergraduate courses, it stands at $231.

Campus Housing Expenses

Housing & other expenses	On Campus	Off Campus
Room & Board	$8,411	$7,946
Other Expense	$3,336	$6,768
Book & Supplies	$1,420	$1,420

Now, coming to the lodging and related expenses at MC, the actual amount to be paid varies based on whether the candidate opts to live on-campus or off-campus. The on-campus logding facilities cost $12,501 per year, while students have to pay $16,406 a year for off-campus housing. For on-campus students at the university, the room and board charges total around $9,063 per year, while the amount charged for off-campus candidates stands at $8,530. On the other hand, the charges toward books and supplies come to around $1,420. Meanwhile, the other expenses that one needs to plan for add up to $3,438 for on-campus students and $7,876 for off-campus students.

Campus Housing Expenses

Housing & Other Expenses

Room & Boards

On Campus

$8,411

Off Campus

$7,946

Housing & Other Expenses

Other Expenses

On Campus

$3,336

Off Campus

$6,768

Housing & Other Expenses

Book & Supplies

On Campus

$1,420

Off Campus

$1,420

Projected Price for a 4 year degree

The current projected cost of attending a four-year graduate course, along with the living expenses, at McPherson College is around $231,824 as per official data. To note, the total expenses for undergraduate students stood at $24,672 for 2018-2019, $22,094 for 2017-2018, and $21,954 for 2016-2017.