In 2021, Grace College's tuition was $24,144 a year.
Tuition increased 3.6% in 2022–from $23,304 the previous year. Usually, college tuition goes up about 3% every year.
Remember, the "sticker price" of tuition doesn't always give you enough information to determine the actual cost of attending any given college. Many students owe far less than the total tuition after grants, scholarships, and tuition discounts are awarded. And, student loans can make thecost of college more manageable until you've finishing school and found a job.
Grace College is a private, religious institution, which means it has the same tuition for residents of Indiana 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.
Attending a college where you are eligible for the reduced tuition offered to state residentscan drastically reduce the cost of tuition, as well as loans and interest owed. Take the time to verify your state's requirements for in-state residency. 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 additional requirements too, depending on where you live.
Explore other Indiana colleges
Tuition at Grace College is the same for all students.
International students are not eligible for federal financial aid, but may be eligible for private or Grace College-specific grants, scholarships, and other funding opportunities.. International students with need may be eligible for the following types of financial support at Grace College:
•Grace College-specific scholarships
International students without financial need may be eligible for merit-based institutional scholarships.
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 Grace College.
Room and board at Grace College costs $9,976 a year. This number includes the cost of living in dorms or other on-campus housing, plus a meal plan that allows you to eat all or some of your meals the Grace College's on-campus cafeterias and dining halls.
Meal-plan 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 real 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 used textbooks and materials.
Most schools also have fees to offsets cost associated with maintaining facilties, like the computer labs and libraries, athletic facilities, and more.
Keep in mind, there could also be other costs associated with participating in certain activities, like Greek Life, or participating in sports or other extracurriculars. Most colleges offer resources so that those with demonstrated need to get help covering these fees.
The total 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 walkable? Do you own a car, or are you planning to use public transportation? All of these questions can drastically impact your estimated cost of transportation. 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, transportation in an urban area might be pricey, but cities may offer more buses, trains and low-cost flight options to actually get to school. Grace Collegeis in a small town setting in Indiana.
When estimating your budget for college, be sure to leave some room in your budget for 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 look at the breakdown of all expenses, to get a better idea of the actual cost of attending Grace College.
What will the cost of attending Grace College be? Here is a breakdown of tuition and expenses.
|2022 Total Tuition and Expenses|
|Room and Board||$9,976|
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 Grace College undergrads use financial aid to finance their education. In 2022, 1,191 of the 1,587 undergrads enrolled received financial aid.
The average financial aid package for a full-time, first-year student is around $19,833 a year.
|Most Common Loans for Grace 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 Grace 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, Grace College awarded 1,191 need-based scholarships to students, giving away total of $14.2 million to help students with financial need cover the cost of school. An additional $4.3 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 Grace 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.
The average amount of financial aid received by a full-time first year student with demonstrated need at Grace College was $19,833 in 2022. By substracting the average financial aid package from the estimated costs, we get a number that may make the cost of Grace College seem more manageable.
|Estimated Net Cost for Full-Time Students|
What will attending Grace 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 Grace 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.
Students cannot pay tuition in installments. Contact the financial aid office to verify this and discuss options.
Schools sometimes waiver tuition for certain groups, to make attending more affordable. Some schools offer tuition waivers for employees and their family members, underrepresented students, or military students. Even if you qualify for a waiver, other expenses and fees are the responsibility of the student.
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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