In 2021, tuition for full-time students at Southern Methodist University was $53,464 a year.
In 2021, tuition increased 2.9%–from $51,958 the previous year. On average, college tuition rises about 3%ba year.
If this makes attending the college of your dreams seem daunting, remember, the total cost of tuition isn't necessarily what you will have to pay to attend a school. Many students pay far less than the sticker price after grants, scholarships, and tuition discounts kick in. Plus, student loans can make the amount you do have to pay for college until you're done with college.
Southern Methodist University is a private, religious institution, so it has the same tuition for students from Texas as it does for students who live in other states.
Public schools receive funds from the state to help them cover costs. Public, state schools can offer lower tuition for students who meet the requirements for in-state residency..
Choosing a school where you are eligible for the reduced tuition offered to state residentscan drastically reduce the overall cost of college. Take the time to check your state's rules for as an in-state resident. Each state has different requirements to qualify as in-state resident. Most states require students to have resided in the state for a certain period of time before qualifying. There may be other criteria as well, depending on where you live.
SMU has the same tuition for international students as for those from out of state.
International students usually do not qualify for for federal financial aid, but should research private or SMU-specific grants, scholarships, and other funding opportunities..
International students without financial need may be eligible for merit-based institutional scholarships and athletic awards.
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 SMU.
Housing and campus dining at SMU costs $17,438 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 SMU's on-campus cafeterias and dining halls.
Board costs can depend on how many meals are included in the plan you choose.
The cost of books often surprises first-year college students. 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.
Most schools also have fees to help cover the cost of facilties, like the library, gym and computer labs. Full-time undergrads at SMU pay $6,772 in fees each academic year.
Keep in mind, there could also be other costs associated with participating in certain activities, like joining a fraternity or sorority, or participating in sports or other extracurriculars. Most colleges offer ways so that those with demonstrated need to find ways to lower or eliminate these 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?. 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 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 impact transportation costs. 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 a city is sometimes pricey, but there may be more trains, busses and affordable flights to actually get to school. The Southern Methodist University campus is located in a urban setting in Texas, not far from Dallas-Fort Worth.
When you're planning for college, don’t forget to take into account 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 SMU.
|2021 Total Tuition and Expenses|
|Room and Board||$17,438|
|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.
In 2021, 1,962 of the 6,827 undergrads enrolled received financial aid. SMU meets 85% of the demonstrated financial need for undergraduates.
The average financial aid package for a full-time, first-year student is around $47,014 a year. Around 31% of SMU undergrads take out student loans to cover any remaining costs. SMU graduates who have student loans graduate with an average of $33,575 of student loan debt.
The average debt for each loan type varies.
|Average Debt By Loan Type|
|Most Common Loans for SMU 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 SMU 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 2021, SMU awarded 1,475 need-based scholarships to students, giving away total of $71 million to help students with financial need cover the cost of school. An additional $79.99 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 SMU 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 SMU was $47,014 in 2021. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of SMU seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending SMU 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 SMU'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.
SMU does not have guaranteed tuition.
SMU 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 faculty, staff, and their families , underrepresented students, or military students. Even with a tuition waiver, students are usually responsible for housing, meal plans, and other expenses.
SMU 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.
Choose one of the options below to find out more about about SMU:
Visit the College Confidential forums to join the conversation about SMU