In 2021, Moody Bible Institute's tuition was $11,970 a year.
Usually, colleges raise tuition about 3% each year.
If these numbers seem daunting, remember, the total cost of tuition isn't the final cost for attending college. Many students find the actual cost of college is way less than the sticker price after grants, scholarships, and tuition discounts are applied. Plus, student loans can make thecost of college more manageable until you're done with college.
Moody Bible Institute meets 62.25% of the demonstrated financial need for undergraduates. First-year students that attend Moody Bible Institute full-time are awarded $12,467 a year in financial aid, on average.
Students in the class of 2023 who had taken out student loans graduated with an average of $25,477 of debt.
Moody Bible Institute is a private, religious institution, so it has the same tuition for students from 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 the reduced tuition offered to state residentscan save on the total cost of attending college. Take the time to check your state's rules 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 other criteria as well, depending on where you live.
Tuition at Moody Bible Institute is the same for each student.
International students usually do not qualify for for federal financial aid, but should research private or Moody Bible Institute-specific aid and scholarships. International students who demonstrate financial need may qualify for the following types of financial support at Moody Bible Institute:
•On-campus jobs •Moody Bible Institute-specific scholarships
International students without financial need may be eligible for merit-based institutional scholarships.
Tuition is not the only cost of attending college; room and board, books, transportation and fees are also costs it consider when budgeting for college. Let's take a look at what impacts these costs, and what to expect at Moody Bible Institute.
Housing and campus dining at Moody Bible Institute is $12,820 a year. This number includes the cost of living in dorms or other on-campus housing, and a dining plan that enables you to eat in the Moody Bible Institute's on-campus cafeterias and dining facilities.
Meal-plan costs can depend on the number of meals you intend to eat on-campus
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 what kinds of books and materials they require. To save money, many students choose to use books from the library or buy books from students who have already taken the course.
The majority of colleges also have fees to help cover the cost of facilties, like the computer labs and libraries, athletic facilities, and more.
There may be other costs associated with participating in special activities, like joining a fraternity or sorority, or playing on an intramural sports team. Many schools offer ways so that those who may struggle to participate because of cost can get help covering these costs.
The total cost of transportation in college can really vary. Will you drive, fly, or take public transportation to school? Is on-campus parking free, or will you need to budget for parking? Is the campus walkable? Do you plan to bring a car or are you planning to use public transportation? All of these questions can drastically impact your estimated cost of transportation. At Moody Bible Institute, freshman are not allowed to park on campus.
The location of a college or university can impact 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 flip side, getting around in an urban area is often expensive, but cities may offer more trains, busses and low-cost flight options to actually get to school. The Moody Bible Institute campus is in a city in Illinois, near Chicago.
When budgeting for college, be sure to factor in personal expenses, like movies, takeouts, furniture or appliances for your dorm or housing, and essentials like laundry detergent, toothpaste and toilet paper.
Now, let’s do a rundown of all of the costs associated with college, to get a better idea of what is really costs to go to Moody Bible Institute.
What will the cost of attending Moody Bible Institute be? Here is a breakdown of tuition and expenses.
|2023 Total Tuition and Expenses|
|Room and Board||$12,820|
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.
Moody Bible Institute’s tuition and fees change based on: •Academic program for both full and part-time students
The majority of Moody Bible Institute undergrads use financial aid to to cover the cost of tuition. In 2023, 1,016 of the 1,753 undergrads enrolled received financial aid. Moody Bible Institute meets 62.25% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $12,467 a year. Around 52% of Moody Bible Institute undergrads take out student loans to cover any remaining costs. Moody Bible Institute graduates who have student loans graduate with an average of $25,477 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Moody Bible Institute-Specific Loans||$27,611|
|Most Common Loans for Moody Bible Institute 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 Moody Bible Institute 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 2023, Moody Bible Institute awarded 990 need-based scholarships to students, giving away total of $12.2 million to help students with financial need cover the cost of school. An additional $4.38 million in merit-based scholarship money was awarded to students without demonstrated financial need.
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 Moody Bible Institute 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 Moody Bible Institute was $12,467 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Moody Bible Institute seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Moody Bible Institute 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 Moody Bible Institute'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.
Students cannot pay tuition in installments. Contact the financial aid office to verify this and discuss options.
Schools sometimes offer tuition waivers to certain groups, to make attending more affordable. Some schools offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even if you qualify for a waiver, other expenses and fees are the responsibility of the student.
Moody Bible Institute 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.
An endowment is the total value of a school's investments, donations, and assets. Endowment is not necessarily an indicator of the quality of a school, but it can give you a sense of how much money a college can afford to invest in expanding programs, improving facilities, and supporting students.
Moody Bible Institute's endowment was valued at $43.5 million in 2023, compared to a national average of $905 million. For each full-time student, Moody Bible Institute spends about $9,051 a year.
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