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Ferrum College Tuition Information

In 2021, tuition for full-time students at Ferrum College was $36,480 a year.

Tuition was the same price in 2021 as it was the year before. On average, colleges raise tuition about 3% each year.

If this makes attending the college of your dreams seem daunting, remember, the "sticker price" of tuition doesn't give you enough information to determine the actual cost of attending any given college. Many students find the actual cost of college is far less than the sticker price after grants, scholarships, and tuition discounts are applied. Plus, student loans can make thecost of college more manageable until after graduation.

Does Ferrum College Offer In-State and Out-of-State Tuition?

Ferrum College is a private, religious institution, so it has the same tuition for residents of Virginia as it does for residents from other states.

Public colleges and universities receive funding from the state government. Public insitutions often offer reduced tuition for students who are residents of that state.

Choosing a college where you qualify for in-state residency can cut the cost of college tuition. Be sure to verify your state's criteria for in-state residency. Each state has different requirements to qualify as in-state resident. The most common requirement is that students must have lived in the state for a full year before starting school. There may be additional requirements as well, depending on where you live.

Explore other Virginia colleges

Is Ferrum College's Tuition Different for International Students?

Tuition at Ferrum College is the same for all students.

International students are not eligible for loans or grants from the U.S. government, but may be eligible for private or Ferrum College-specific grants, scholarships, and other funding opportunities.. International students with need may qualify for the following types of financial support at Ferrum College:

  • Ferrum College-specific scholarships

International students without financial need may be eligible for merit-based institutional scholarships.

Ferrum College Housing Expenses and Other Costs

Tuition is not the only cost of attending college;there are other costs associated with college, like room and board, facility fees, and books and supplies. Let's take a look at what impacts these costs, and what to expect at Ferrum College.

House and Food Costs at Ferrum College

Room and board at Ferrum College costs $12,910 a year. This includes the cost of living in dorms or other on-campus housing, plus a dining plan that allows you to eat in the Ferrum College's on-campus cafeterias and dining facilities.

Meal-plan costs can depend on how many meals are included in the plan you choose.

How Much Do Books Cost at Ferrum College?

First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. . The actual cost of books and supplies depends on the courses you take and the textbooks, computer programs, or other materials are required.. To save money, many students choose to use books from the library or buy books from students who have already taken the course.

Annual Fees

The majority of colleges charge some yearly fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more. Students who attend Ferrum College full time pay $800 in fees each academic year.

Keep in mind, there could also be optional fees associated with participating in special activities, like Greek Life, or participating in sports or other extracurriculars. Many schools offer resources so that those with financial need to find ways to lower or eliminate these fees.

Transportation costs

The total cost of getting around in college can really vary. Will you take a subway, car or an airplane to get to school?. Will you need to pay to park on-campus? Is the campus walkable? Do you plan to bring a car or will you need to use busses, subways, or other modes of transportation? All of these questions can drastically impact your estimated cost of transportation. At Ferrum College, freshman are allowed to park on campus.

Where are a college is located can impact your transportation budget. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand getting around in a city may be pricey, but cities may offer more buses, trains and low-cost flight options to actually get to school. Ferrum Collegeis in a rural setting in Virginia.

Are There Any Other Costs Associated With College?

When estimating your budget for college, be sure to take into account the cost of things like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.

Now, let’s go over all of the costs we've covered, to get a better estimate of how much students can expect to shell out for Ferrum College.

Total Cost of Ferrum College

2021 Total Tuition and Expenses
Tuition $36,480
Room and Board $12,910
Yearly Fees $800
Other expenses $1,500
Total Estimated Costs
On-Campus $52,490
Off-Campus $38,580

The breakdowns above provide a good estimate of the total cost of attendance before financial aid and scholarships. Tuition and fees may vary depending on program, course level, location, and more.

The majority of Ferrum College undergrads use financial aid to help pay for school. In 2021, 934 of the 960 undergrads enrolled received financial aid.

The average financial aid package for a full-time, first-year student is around $31,866 a year. Around 73% of Ferrum College undergrads take out student loans to cover any remaining costs. Ferrum College graduates who have student loans graduate with an average of $26,721 of student loan debt.

The average debt for each loan type varies.

Average Debt By Loan Type
Federal Loans $25,832
State Loans $0
Ferrum College-Specific Loans $0
Private Loans $0
Most Common Loans for Ferrum College Students
Federal Loans 71%

Most students take out institutional or government loans, because they tend to have lower interest rates and more flexible repayment options than private loans. Loans from the federal government can be subsidized or unsubsidized. Subsidized loans do not accrue interest during school, while unsubsidized loans begin accruing interest at the time the loan is issued. If students do no qualify for enough federal loans to cover the cost of tuition, some take out private loans. Parents can also take out ParentPLUS loans, which are government loans for parents who are helping their children pay for college.

The Free Application for Federal Student Aid (FAFSA) helps colleges determine how much financial need students and their familes have, so they can offer a financial aid package that meets, or come close to meeting, their need. For more information on Ferrum College financial aid, keep reading, or visit their financial aid website.

Scholarships at Ferrum College

Some students may receive grants and scholarships to help pay for college. Unlike loans, scholarships and grants do not have to be paid back.

In 2021, Ferrum College awarded 702 need-based scholarships to students, giving away total of $24.4 million to help students with financial need cover the cost of school. An additional $1.96 million in merit-based scholarship money was awarded to students without demonstrated financial need.

Ferrum College Net Cost

The net price of college is the actual cost of attending a school for one year. Net cost is calculated by subtracting any scholarships, grants or other aid that does not need to be paid back from the total cost. Student loans are not part of the calculation, because they need to be repaid.

Now that we have a sense of the total estimated costs for Ferrum College students, we can subtract the average financial aid package to find the estimated net cost. Net cost can vary depending on a students’ need and the financial aid award received.

When considering whether a school fits your budget, it is important to consider the estimated net cost, not just the sticker price of tuition. Often, schools with the highest tuition also offer the most generous aid packages, so estimate your net cost before eliminating a school because it does fit your budget.

The average amount of financial aid received by a full-time first year student with demonstrated need at Ferrum College was $31,866 in 2021. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Ferrum College seem more manageable.

Estimated Net Cost for Full-Time Students
On-Campus $20,624
Off-Campus $6,714

What will attending Ferrum College really cost you? The answer depends on several factors.

As of 2011, colleges are required to have a net price calculator on their website to help prospective students and their families make more informed decisions about the actual cost of attending that school, based on their financial situation. You can find the Ferrum College's net cost calculator on their website.

Ferrum College Tuition Payment Plans

Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.

Students cannot pay tuition in installments. Contact the financial aid office to verify this and discuss options.

Ferrum College Tuition Waivers

Schools sometimes offer tuition waivers to certain groups, to offset the cost of attending. Some colleges offer tuition waivers for employees and their family members, underrepresented students, or military students. Even if you qualify for a waiver, students are usually responsible for housing, meal plans, and other expenses.

Check the financial aid website for more information on payment plans and tuition waivers.

Learn More About Ferrum College

To learn more about Ferrum College, choose from the options below:

Overview

Student Life

Academics

Admissions

Visit the College Confidential forums to join the conversation about Ferrum College

Ferrum College Tuition & Fees

Tuition & Fees

$50,990

In State

$50,990

Out-of-State
Cost Breakdown
In State
Out-of-State
State Tuition
$36,480
$36,480
Fees
$800
$800
Housing
$12,910
$12,910
Books
$800
$800

Ferrum College Financial Aid

Students Who Receive Need-Based Aid

68%

Average Financial Aid Package

$31,473

© 2021 College Confidential / Concentrical LLC, Data provided by IPEDs and Peterson's Databases, © 2020 Peterson's LLC.

Quick Facts

Total Enrollment

970

Campus Setting

Rural

Acceptance Rate

76%

Tuition and Fees

In State

$37,280

Out-of-State

$37,280

Fall Freshmen
Application Deadline

Sep 15
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