In 2022, tuition for full-time students at Olivet Nazarene University was $36,950 a year.
Tuition increased 1.37% in 2023–from $36,450 the prior year. Usually, colleges raise tuition about 3% each year.
Remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students find the actual cost of college is far less than the total tuition after grants, scholarships, and tuition discounts kick in. And, student loans can make thecost of college feel more doable until after graduation.
Olivet Nazarene University meets 92% of the demonstrated financial need for undergraduates. First-year students that attend Olivet Nazarene University full-time are awarded $34,775 a year in financial aid, on average.
In 2020, students graduated with an average of $30,351 in student loans for each student with debt.
Olivet Nazarene University is a private, religious institution, which means 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. These institutions offer reduced tuition for those who qualify as Illinois residents.
Choosing a college where you qualify for in-state tuition can cut the cost of college tuition. Don't forget to confirm your state's rules for in-state tuition. Each state has different requirements to qualify as in-state resident. 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 other criteria too, depending on where you live.
Tuition at Olivet Nazarene University is the same for each student.
Students from outside of the U.S. are not eligible for federal financial aid, but may qualify for private or school-specific aid and scholarships. International students with need may qualify for the following types of financial support at Olivet Nazarene University:
•On-campus jobs •Loans from outsideOlivet Nazarene University •Athletic Awards •Olivet Nazarene University-specific scholarships •International Students Tuition Waivers
International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.
In addition to the cost of tuition, 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 Olivet Nazarene University.
Room and board at Olivet Nazarene University is $9,790 a year. This covers the cost of living in dorms or other on-campus housing, plus a dining plan that enables you to eat in the school dining facilities.
Board costs may vary depending 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 and supplies 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.
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.
There may be optional fees associated with participating in special activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges have ways so that those who may struggle to participate because of cost can find ways to lower or eliminate these fees.
The cost of getting around 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 easy to get around on foot? Do you own a car, or are you planning to use public transportation? All of these factors can drastically impact your estimated cost of transportation. At Olivet Nazarene University, freshman are allowed to park 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 getting around in an urban area might be costly, but cities may offer more trains, busses and affordable flights to actually get to school. The Olivet Nazarene University campus is in a town in Illinois, near Chicago.
When estimating your budget for college, be sure to leave some room in your budget for the cost of things like entertainment, clothes, furnishings and toiletries.
Now, let’s do a rundown of all of the costs associated with college, to get a better estimate of the actual cost of attending Olivet Nazarene University.
What will the cost of attending Olivet Nazarene University be? Here is a breakdown of tuition and expenses.
|2023 Total Tuition and Expenses
|Room and Board
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.
Olivet Nazarene University’s tuition and fees change based on: •Course load for part-time students
The majority of Olivet Nazarene University undergrads use financial aid to finance their education. In 2023, 1,875 of the 2,651 undergrads enrolled received financial aid. Olivet Nazarene University meets 92% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $34,775 a year. Around 80% of Olivet Nazarene University undergrads take out student loans to cover any remaining costs. Olivet Nazarene University graduates who have student loans graduate with an average of $30,351 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type
|Most Common Loans for Olivet Nazarene 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 Olivet Nazarene 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 2023, Olivet Nazarene University awarded 1,871 need-based scholarships to students, giving away total of $50.7 million to help students with financial need cover the cost of school. An additional $13.71 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 Olivet Nazarene 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 Olivet Nazarene University was $34,775 in 2023. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Olivet Nazarene University seem more manageable.
|Estimated Net Cost for Full-Time Students
What will attending Olivet Nazarene 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 Olivet Nazarene 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.
Olivet Nazarene University does not have guaranteed tuition.
Olivet Nazarene 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 waiver tuition for certain groups, to offset the cost of attending. Some colleges offer tuition waivers for faculty, staff, and their families , underrepresented students, or military students. Even with a tuition waiver, other expenses and fees are the responsibility of the student.
Olivet Nazarene University has some full or partial tuition waivers available for: - International Students - 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.
Olivet Nazarene University's endowment was valued at $57.7 million in 2023, compared to a national average of $905 million. The school spends $7,826 for each full-time student enrolled.
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