In 2022, Mount Mercy University's tuition was $36,606 a year.
Tuition increased 3% in 2022–from $35,540 the prior year. On average, college tuition goes up about 3% every year.
Remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students owe far less than the total tuition after grants, scholarships, and tuition discounts kick in. Additionally, student loans can make thecost of college feel more doable until after graduation.
Mount Mercy University is a private, religious institution, which means it has the same tuition for residents of Iowa 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 save significant money on the cost of tuition, as well as loans and interest owed. Be sure to confirm your state's requirements for in-state tuition. Every state has its own rules about what makes someone eligible for in-state tuition. In many states, students must have lived in the state for 12 months before starting school to qualify for in-state tuition. There may be additional requirements too, depending on the state you and your parents currently reside in.
Mount Mercy University has the same tuition for international students as for those from out of state.
Students from outside of the U.S. are not eligible for federal financial aid, but may qualify for private or Mount Mercy University-specific grants, scholarships, and other funding opportunities..
Tuition is not the only cost of attending college; room and board, books, transportation and fees are also costs it consider when estimating the cost of attendance for college. Let's take a look at what impacts these costs, and what to expect at Mount Mercy University.
Housing and campus dining at Mount Mercy University is $10,428 a year. This number covers the cost of living in dorms or other on-campus housing, plus a meal plan that enables you to eat all or some of your meals the school dining halls. Students who live off campus but still want to use the dining facilities can choose to be on a meal plan. The cost of a mean plan, or board-only, is $4,050.
Board costs can depend on the numnber of meals you intend to eat on-campus
The cost of books often surprises first-year college students. The actual 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 used textbooks and materials.
The majority of colleges also have fees to offsets cost associated with maintaining facilties, like the library, gym and computer labs.
Keep in mind, there could also be additional fees associated with participating in special activities, like Greek Life, or playing on an intramural sports team. Most colleges offer resources so that those with demonstrated need to get help covering these costs.
The total cost of transportation in college can really vary. Will you take a subway, car or an airplane to get 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 will you need to use public transportation? All of these questions can drastically impact your transportation budget. Keeping in mind, first-year students are allowed to park a car on campus.
Where are a college is located can also have a big effect on transportation costs. 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 usually pricey, but there may be more trains, busses or low-cost flight options to actually get to school. Mount Mercy Universityis in a suburban setting in Iowa.
When you're planning for college, be sure to consider 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 go over all of the costs we've covered, to get a better estimate of the actual cost of attending Mount Mercy University.
What will the cost of attending Mount Mercy University be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$10,428|
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.
The majority of Mount Mercy University undergrads use financial aid to finance their education. In 2022, 855 of the 1,290 undergrads enrolled received financial aid. Mount Mercy University meets 73.46% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $27,194 a year. Around 76.03% of Mount Mercy University undergrads take out student loans to cover any remaining costs. Mount Mercy University graduates who have student loans graduate with an average of $42,907.47 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for Mount Mercy University 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 Mount Mercy University 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, Mount Mercy University awarded 852 need-based scholarships to students, giving away total of $19.8 million to help students with financial need cover the cost of school. An additional $4.18 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 Mount Mercy University 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 Mount Mercy University was $27,194 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Mount Mercy University seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Mount Mercy University 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 get a better idea of the actual cost of attending that school, based on their financial situation. You can find the Mount Mercy University'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.
Mount Mercy University 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 offset the cost of attending. Some schools 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.
Mount Mercy University has some full or partial tuition waivers available for: - Employees or Children of Employees
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