In 2021, tuition for full-time students at Lincoln College was $18,700 a year.
In 2022, tuition increased 2.19%–from $18,300 the previous year. Usually, college tuition rises about 3% year.
Remember, the total cost of tuition isn't the final cost for attending college. Many students pay way less than the sticker price after grants, scholarships, and tuition discounts kick in. And, student loans can make the amount you do have to pay out of pocket more manageable until after graduation.
Lincoln College is a private, nonprofit institution, so it has the same tuition for residents of Illinois as it does for students who live in other states.
Public colleges and universities receive funding from the state government. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency.
Choosing a college where you qualify for in-state tuition can cut the cost of college tuition. Be sure to verify your state's requirements for in-state tuition. Every state has its own rules about what makes someone eligible for in-state tuition. 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 too, depending on the state you and your parents currently reside in.
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Tuition at Lincoln College is the same for every student.
International students are not eligible for federal financial aid, but may qualify for private or school-specific grants, scholarships, and other funding opportunities.. International students with need may qualify for the following types of financial support at Lincoln College:
International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.
In addition to tuition, room and board, books, transportation and fees are also costs it consider when planning for college. Let's take a look at what impacts these costs, and what to expect at Lincoln College.
Room and board at Lincoln College costs $8,400 a year. This includes the cost of living in dorms or other on-campus housing, plus a dining plan that enables you to eat all or some of your meals the school dining halls. Students who do not live on-campus but still want to use the dining facilities can choose to be on a meal plan. The cost of board-only is $3,000.
Meal-plan costs may vary depending on how many meals are included in the plan you choose.
First-year students are sometimes surprised by how much books and supplies cost–and not in a good way. The real cost of books depends on the courses you take and the materials required. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
Most schools also have fees to help cover the cost of facilties, like the computer labs and libraries, athletic facilities, and more.
Keep in mind, there could also be optional fees associated with participating in certain activities, like Greek Life, or participating in sports or other extracurriculars. Many schools have ways for students who may struggle to participate because of cost can get help covering these costs.
The 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 small enough that you can easily walk from class-to-class?? 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 make a big difference in your estimated cost of transportation. Keeping in mind, first-year students are allowed to park a car on campus.
A school's location can also have a big effect on the amount you'll have to spend just to get around. Small, rural schools may be easier to get around, but the cost of getting to campus may be higher. On the other hand transportation in an urban area is usually costly, but there may be more buses, trains or affordable flights to actually get to school. The Lincoln College campus is located in a small town setting in Illinois.
When budgeting for college, be sure to leave some room in your budget for personal expenses, like entertainment, clothes, furnishings and toiletries.
Now, let’s go over all of the costs we've covered, to get a better idea of how much students can expect to shell out for Lincoln College.
What will the cost of attending Lincoln College be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$8,400|
The total estimated cost will vary depending on whether you are going to live on-campus or off-campus.
|Total Estimated Costs|
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.
Lincoln College’s tuition and fees change based on: •Course load for part-time students
The majority of Lincoln College undergrads use financial aid to finance their education. In 2022, 819 of the 965 undergrads enrolled received financial aid.Around 71% of Lincoln College undergrads take out student loans to cover any remaining costs. Lincoln College graduates who have student loans graduate with an average of $7,385 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for Lincoln College Students|
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 Lincoln College financial aid, keep reading, or visit their financial aid website.
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 2022, Lincoln College awarded 819 need-based scholarships to students.
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 Lincoln 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.
By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Lincoln College seem more manageable.
What will attending Lincoln 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 understand the actual cost of attending that school, based on their financial situation. You can find the Lincoln College's net cost calculator on their website.
Some students choose to use payment plans to make the cost of tuition fit more comfortably in their budget.
Lincoln College offers an Installment Payment Plan, which allows students to pay tuition in a series of smaller chunks instead of one lump sum.
Schools sometimes offer tuition waivers to certain groups, to make attending more affordable. 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.
Lincoln College has some full or partial tuition waivers available for: - Employees or Children of Employees
Check the financial aid website for more information on payment plans and tuition waivers.
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Data Source: IPEDs and Peterson's Databases © 2022 Peterson's LLC All rights reserved
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